Resume Screening Services: Market Analysis

This resume screening services market procurement intelligence report offers actionable information on the global spend potential, regional spend dynamics, and pricing models. Insights delivered in this report will help purchasers to identify cost-saving opportunities while procuring resume screening services.

The global resume screening services market is expected to witness category spend growth of USD 16.99 billion between 2018-2023, with spend momentum accelerating at a CAGR of 8.24% during the forecast period. This increasing spend in the resume screening services market will be primarily attributed to the major lacuna in skilled workforce observed across the critical end-user sectors that are expected to trigger a large-scale recruitment drive among these sectors. The recruitment process is initiated with a detailed pre-screening of online application forms and shortlisting suitable candidates based on job requirements. Such detailing in this process increases the management complexity of organizations while also exposing them to risks like resume frauds and information discrepancies that result in the recruitment of suboptimal candidates. These risks are driving end-user sectors such as the BFSI and IT industries to outsource the resume screening services to skilled service providers. This trend will serve as a critical driver of the overall spend growth of the resume screening service market.

On account of the growing instances of resume frauds in APAC, most of the end-user sectors are outsourcing resume screening services to category service providers to mitigate such potential risks. This is driving the category spend growth in APAC which is currently holding the largest share of the global resume screening services market. In North America, buyers from the healthcare industry are spending on resume screening services to support the large-scale recruitment of staffs in this sector. This will drive the demand growth of the resume screening services market during the forecast period.

Insights Offered in this Resume Screening Services Market Report

Enterprises looking to procure resume screening services can leverage this report to better plan their category spend and identify avenues to reduce excess spend. An overview of the resume screening services buyer and supplier insights, pricing models, category cost structure, and regional spend dynamics is also offered in this procurement market intelligence report.

Our portfolio of reports on the corporate services category help buyers understand:

• Global and regional spend potential for resume screening services for the period of 2018-2023
• Top suppliers and their cost structure
• US supply market scenario
• Incumbent supplier evaluation metrics

Resume Screening Services Market Pricing Trends

This resume screening services market procurement intelligence report contains in-depth pricing insights to aid the procurement process. These pricing insights provide an overview and comparison of pricing models, supply chain margins, and the volume and cost drivers impacting pricing:

• The rise in minimum wages across regions will increase the employee costs incurred by suppliers who are largely dependent on the skills of professionals for sourcing and shortlisting candidates. This will impact the price of resume screening services to a significant extent.
• The increasing adoption of technologies such as AI and ATS by suppliers to streamline their operations and meet the resume screening requirements of buyers will increase the former’s CAPEX. This will be ultimately passed on to the buyer’s in the form of high service cost.
• However, possibilities of entries of newer players will intensify the competition among suppliers that will reduce the chances of any drastic rise in the category price.

Optimize Category Spend for Resume Screening Services

In a market where buyers are vulnerable to high risks of resume frauds, it is highly relevant for them to rely on service providers that conduct a thorough resume analysis of candidates without depending on social media. The services provided by such service providers are reliable as the information is less subjective in nature.

To help category managers optimize spend on resume screening services, this report also covers:

• Resume screening services category management strategies and objectives
• Cost-saving opportunities
• Supplier and buyer KPIs
• Outsourcing category management activities
• Risk management

Build Strategies for Effective Supplier Selection

Service providers are expected to possess extensive knowledge of buyer’s industry in order to identify the most suitable candidates to fill in the vacant posts. Buyers must ensure that service providers are implementing certain procedures during candidate selection which are checking for employment reference and employment history, testing skills of candidates, and verification of educational credentials.

This resume screening services market procurement intelligence report identifies the major costs incurred by suppliers and provides additional information on:

• Supplier ecosystem
• Buyer and supplier KPIs
• Incumbent supplier evaluation metrics

Devise Effective Category Management Strategies for the Resume Screening Services Market

The adoption of online applicant entry platform will save the costs associated with the purchase of paper as well as documents and files for service providers. This will optimize the OPEX of service providers, enhancing cost-saving opportunities for buyers.

Key insights offered in this resume screening services market intelligence report will help the buyers identify:

• Cost-saving opportunities
• Supply base rationalization
• Sustainability practices

This market procurement intelligence report offers comprehensive resume screening services market analysis that informs on the top suppliers and major risks faced while procuring.