Today, technology is ubiquitous in our daily lives. We use it for everything from organising our daily lives to doing our online banking- and today, we’re apply it to the way we work, too. The recruitment sector has, of course, also moved with the times and adopted technology-based recruitment methods, with recruiters headhunting candidates on social media platforms like LinkedIn, attracting them with advertising banners and even sending out email mailshots to attract fresh talent.
However, bigger changes may be on the horizon, in the form of blockchain. Blockchain originally emerged onto the scene as a technology aimed at making financial transactions more secure, using a digital ledger that tracks and files online transactions in a way that places emphasis on security and on background checks. However, recruiters are now starting to see how this approach can be applied to the recruitment industry. And it’s starting to take off: last year, IT recruitment agency Technojobs partnered with APPII, the world’s first blockchain career verification platform, to create ‘verified career profiles’ for them to use on their site.
But what is it- and why is it so revolutionary?
The potential for applying blockchain to recruitment- and to HR- is huge. One of the key issues when it comes to hiring potential candidates is checking that their background data is all viable, and that they are who they actually say they are. This is by far the most time-consuming part of any hiring process, and blockchain offers recruiters the chance to cut this time in half- for candidates as well as recruiters, who often spent vast amounts of time filling out large and cumbersome forms to prove their identity and credentials. The result? A quicker and cheaper recruitment process.
This can be done by tracking a candidate’s ‘digital ID’ in a way similar to a blockchain transaction, letting employers and recruiters see the entirety of a candidate’s history online, from their school marks to their work experience and job history, all verified by their respective employers, schools and universities- thus even removing the need to check for a reference, allow people to focus on matching candidates to the right jobs. Thanks to technology, this data would also be automatically uploaded to the database every time a candidate starts a new job, takes a professional development course or more.
This accuracy could even be applied to verifying a candidate’s CV, letting universities, employers and schools verify every point in their CV and therefore eliminating the danger of accepting candidates with out of date, or fraudulent, documents. In the future, these could even be stored directly on this blockchain, creating a standardised career profile, and ensuring an easy and simple application process for candidates and for recruiters, who are in effect responsible for passing these candidates on to prospective employers. Some are even talking of introducing biometric ID verification processes , thus further ensuring the legitimacy of a candidate.
A blockchain-oriented approach to recruitment may even pay off in the future: though the fact that it’s on an online database means that information cannot be deleted, candidate data can be retracted, meaning that this approach is essentially GDPR-compliant.
Blockchain promises huge benefits for recruiters. In addition to ensuring security- as information, once added, can’t be altered or deleted- the promise of easily-validated content means that recruiters will be able to find and recruit a higher quality of candidates to various vacancies. By extension, that also results in higher levels of confidence in those same candidates, as increased transparency within the system will ensure that everybody starts out on a level playing ground- and who know that they have the right qualifications to succeed in a role they’re applying for.
Love it or hate it, blockchain is shaping up to be the future. With improved security, ease of use and the potential to reduce the amount of fraud in candidate applications, it’s being touted as the next big thing in recruitment.
Time will tell.
At Attrax, we pride ourselves at keeping up to date with the changing market so we can create careers sites that are designed to thrive whatever the circumstances. For more industry tips and insights, why not take a look at our blogs?