The latest reports from the Office for National Statistics (ONS) revealed that the number of job vacancies in February to April 2022 rose to a new record of 1,295,000, meaning that, for the first time, the number of vacancies was greater than the number of people unemployed in the UK. Responding to this, leading background screening and identity services firm, Sterling, has highlighted why these figures will drive greater demand for Digital Identity Solutions.
Steve Smith, Managing Director EMEA, commented:
“The fact that vacancies are continuing to break records across the UK, surpassing our unemployment rate, shows that employers are still struggling to find and hire staff – and will continue to do so for the foreseeable future. It’s been no secret that businesses are facing a concerning dearth of talent while also having to scale up recruitment to a level that many haven’t faced before. In this environment, the risk to firms increases, with speed and urgency putting quality and compliance at risk.
“While Sterling would always advise businesses and hiring teams to ensure they do not compromise on compliance when employing new staff, we also recognise the need to speed up processes to support this demand. It is key to balance speed with the confidence for organizations to take the next step to build teams and cultures rooted in trust, safety, and authenticity. That’s why we believe that the latest announcement from the Home Office of the permanent introduction of digital identity screening is a positive one for the employment market.
“We saw, during the emergency measures that were put in place during the height of the pandemic, that digital right to work checks work well for employers and applicants alike, enabling completely remote hiring and faster onboarding processes for both employee and candidate.
“The need for innovation and technological evolution in the recruitment process has never been more critical and the shift to digital identity will be a real enabler for businesses looking to quickly and compliantly source new resources to meet the current demand.”
Wanda Rich has been the Editor-in-Chief of Global Banking & Finance Review since 2011, playing a pivotal role in shaping the publication’s content and direction. Under her leadership, the magazine has expanded its global reach and established itself as a trusted source of information and analysis across various financial sectors. She is known for conducting exclusive interviews with industry leaders and oversees the Global Banking & Finance Awards, which recognize innovation and leadership in finance. In addition to Global Banking & Finance Review, Wanda also serves as editor for numerous other platforms, including Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.