SJV Data Solutions, the largest independent wholesale data provider in the background screening industry, will host a panel discussion at PBSA in Anaheim, CA at 1:00 pm PT on September 14, 2021 on the Future of Automation in Employment Verifications. Panelists include Bill Wilder, COO at SJV, Kirill Klokov, CEO at Citadel ID and John Hartigan, Lead - US Healthcare at Velocity Network Foundation with moderation provided by Nick Fishman, CMO at SJV Data Solutions.
Employment verifications have always been a core service offering in the employment background screening business. Traditional employment verifications have been a manual process, largely conducted by telephone because all the information required doesn’t exist in a consistent online form or in a single database. Exacerbating the manual nature of collecting the data for employment verifications is the fact that each employer requires different information, such as length of employment history, in different formats. Because verifications are manual and custom, each CRA tends to have its own staff, trained to provide the type of employment verifications its customers require, and in numbers just sufficient to meet average demand for its clients because idle staff reduces profit and insufficient staff stymie growth. It’s a precarious balancing act and a wrong decision can destroy profitability, alienate customers or hamper growth. As a result, CRAs are often very conservative in their approach to employment verifications and often accept that it will never be a very profitable part of their business.
In the aftermath of the COVID pandemic of 2020, huge numbers of employees are either returning to work with new employers or actively changing jobs in a phenomenon known as “the Great Resignation”. Many of these jobs require employment verification. Massive demand combined with urgency to fill empty positions has pushed CRAs' conservative stance on employment verifications to the brink. They can’t hire and train fast enough to respond and if they did, how long would employer demand justify their investments in hiring and training? Long-simmering in the background, the question: Will employment verifications ever be automated? If so, when?, is now top of mind with CRAs and employers alike.
The PBSA panel discussion aims to explore three different approaches, currently, in early market adoption, that may crack the marketplace for automated employment verifications; all have the distinct possibility of disrupting the industry in a positive way. Each method has a corporate champion, and panelist, competing to disrupt the marketplace for employment verification and garner a portion of the massive revenues associated with standardizing and optimizing an automated process for collecting and reporting employment verification.
CRAs stand to benefit because automated employment verification will be far more profitable and present less constraint on growth. Employers win because they can drastically reduce turnaround times and make quicker hiring decisions and job-seekers win because automation speeds up the hiring process. So the stakes couldn’t be higher. Join us on Tuesday, September 14 at 1:00 pm PT to find out.