According to a survey from CareerBuilder, 56% of 2,500 hiring managers have caught job candidates of being dishonest with their resume. A quarter have encountered potential employees claiming to have worked for companies they never really worked for. With numbers like these, how can staffing agencies ensure that they are giving a job to the right people, especially when safety and productivity are at risk?
How does blockchain work?
The blockchain is a revolutionary technology that continues to disrupt many major industries. Organizations involved in finance, education, healthcare, and most importantly recruiting are witnesses to the benefits of using blockchain technology. As extraordinary as it sounds, most people are still at a loss about what it is. How exactly does blockchain work?
To put it simply, a blockchain is a digital log that is decentralized and encrypted making it balanced and secure. To make it even more simple? For example, you borrowed your friend’s car for the day and promised to return it with a full tank of gas. Once both of you agree on the terms, it is placed on the blockchain and the verification process is traced across a decentralized network (everyone can see it!). Later on when you fill up the gas tank, a program confirms that the car’s tank is now full and adds it to the transaction. Since the transaction is not stored in a central database, both parties are unable to change it.
Redefining the resume
Employers spend hundreds of dollars to find the perfect candidate for a role. Not only that, but they also pour many hours into the lengthy process of verifying information a potential candidate gives. However, this process is more complicated for staffing agencies that employ hourly employees and warehouse workers that are usually not equipped with a resume. Other technologies such as applicant tracking systems which rely on keywords to sift through resumes have also pushed candidates to alter their work experience to make the software’s cut.
What if the blockchain can allow job seekers to create a virtual resume where universities record degrees, institutions can store skill certifications, and organizations can document work experience and performance evaluations all in one secure digital log. The best part of it is the employees also has ownership over their information, giving employers access to it when needed. Not only does blockchain eliminate the need for a paper resume, but it presents the most accurate picture of a candidate’s credentials before being hired.
Recruiters that deal with high level resumes are already beginning to feel the impact of new technologies such as automation and blockchain. However, we believe that blockchain’s influence will also slowly make its way to the blue-collar industry. Staffing agencies spend more time validating work experience, identities, and employment eligibility. If anything, the blue-collar industry will benefit more from the security and efficiency blockchain technology entails.
Why should you embrace the blockchain for recruiting?
Blockchain technology is still very young in some industries, some may still be afraid of jumping into the blockchain pool. It’s scary but it’s worth it. It is the most secure data log to verify a potential candidate’s education, skill certificates, and work experience minus the headache of verification. The more accurate the data recruiters can retrieve from candidates, the better they can match them to the right jobs. Most importantly, storing this information and actually placing ownership in the hands of the employee can minimize the risks data-privacy regulations entail. New technology is always difficult to embrace, but what’s important is recognizing technological innovations and understanding how they can elevate your business.