If you work in HR, you may be wondering what blockchain has to do with recruitment. After all, we usually hear about blockchain within contexts of Bitcoin; however, blockchain is becoming ever more prevalent in many diverse industries these days. That means that when it comes to recruitment, blockchain technology has huge potential to transform the hiring process.
In this article, we’ll discuss blockchain in recruitment: That is, exactly how blockchain is changing how we recruit—and why it’s a change that can significantly improve how your company finds its new recruits.
What is blockchain technology?
While blockchain is itself a topic worthy of its own blog post, essentially it is a distributed ledger that logs and protects the integrity of the data submitted.
Once the data is logged through blockchain, it is nearly impossible to alter it. As such, it is used for storing information like transitions made with cryptocurrencies to ensure it is protected without needing a central authority, like a bank would.
Because this information is shared on a public distributed ledger, its information is consensually shared across various sites and institutions to ensure a consensus is maintained and no data is altered or added without verification.
While it’s easy to see why blockchain is useful in financial contexts, namely for its protective and democratic properties, it’s becoming adapted to various contexts outside currency.
How can blockchain be used within recruitment?
Blockchain technology is revolutionizing the ways in which hiring agencies and employers view and consider potential candidates.
Namely, with the level of security blockchain provides its users, it can be relied upon for maintaining the integrity of data, such as employment background or academic credentials.
This means hiring agencies and employers can rely on the data being shared, and job candidates alike can share this information without fear of it being tampered with once verified.
So why is this important to you as a talent hunter? According to a study by CareerBuilder, 75% of recruiters noticed lies on the resumes they receive.
While this number is already unnervingly high, these are only the fraudulent resumes that recruiters have noticed, meaning there can be countless more that go undetected.
As well, with the rising popularity of diploma mills and other online resources that make official documents and references very easy to fake, unfortunately, applications can no longer be taken simply at face-value.
With blockchain offering both the candidate and employer or recruiter secure access to authenticated records, applications can now be viewed in real-time with access that relies on the candidate’s consent.
These validated credentials include some of the most important details you need to know about your potential hire, including (but not limited to) their:
· Academic history
· Records of employment
· Driver’s abstract/ motor vehicle records
· Criminal background check
· Professional designations (licences and certifications)
Along with knowing that the candidate is truly qualified for the position at hand, and has not embellished their skills or certifications, talent hunters can also request access to view these secure records in real-time for a faster, smoother hiring process.
As well, these authenticated records can provide HR professionals with valuable information about a candidate’s previous employers or academic references, including names and contact details, so that referencing is reliable and efficient.
Make the switch!
Some believe that blockchain technology will make personal information less secure. However, making use of blockchain technology can actually help you to maintain more stringent security when it comes to your candidates’ information.
Instead of collecting traditional resumes as files on your computer or as hard copies, you can simply access the information about each candidate in real-time online.
With the hiring process becoming so easy and reliable, the traditional CV as we know it may eventually disappear entirely.
Try Workwolf to streamline your hiring process
Workwolf specializes in blockchain HR technology. In fact, Workwolf won the 2020 Enterprise Blockchain Award for most transformational platform and entrepreneurship.
By using our advanced system, you can effortlessly check your candidates’ information to find candidates you can trust, and make your hiring easier for everyone involved.
Try it out for yourself, and start building pre-verified candidate talent pools today.