Since its discovery in 1991, blockchain technology has continued to unleash its impact on various industries- including industrial staffing. The recruitment process for the industrial sector has often been riddled with traditional and outdated technologies. Blockchain’s transparent, decentralized, and secure structure was the perfect match to optimize processes for a high-volume workforce such as the industrial staffing sector.
What is Blockchain’s Role in Industrial Staffing?
In the staffing technology space, there’s always a new platform at every turn. From Artificial Intelligence to Machine Learning, there’s always something new. However, blockchain technology has been a consistent buzzword in the industry over the years. Now more than ever, blockchain technology is once again at the forefront of the digital revolution in the staffing industry.
Workforce management systems for industrial staffing involves several parties, such as employees, vendors, and clients that need transparency with each other during high volume transactions which require a complete audit trail”, said WurkNow CTO TJ Sehmi, “We utilized the power of blockchain technology to help solve challenges in transparency and alleviate disputes within all the parties involved in the workforce ecosystem.
What IS blockchain? In general, it’s a digital ledger. However, that can be broken down into three words that are critical to understanding its role in staffing and recruitment: Shared, Distributed, and Encrypted.
1. Shared. Everyone that is authorized has access to the ledger and all the recorded information within it. In the blockchain, the power of holding certain information is distributed equally. From candidate information to timesheet data, it can easily be shared within a system of authorized users.
2. Distributed. Blockchain technology is transparent in nature. However, transparency does not mean it can easily be altered. Despite having data distributed across a network of authorized users, not one of them can alter information such as injury reports or timesheet data within the ledger. This protects the source of truth at all times.
3. Encrypted. Storing confidential information such as employee data is kept secure within the blockchain. The data is kept secure by a series of digital keys that keeps those outside of the authorized circle from accessing data.
Verifying candidate credentials has always been an exhausting part of the recruitment process for staffing agencies. So, remember when we talked about the secure digital ledger that is blockchain? Well, having a filing system that is completely secure and transparent makes it easier to store and view information such as academic credentials, employment history, and work authorization forms.
Moreover, modern technology has taken storing and owning this information up a notch. Here at WurkNow, we’re utilizing blockchain technology to allow non-resume individuals to store accumulated data such as employment history, learned skills, and client feedback. In essence, storing these in the digital ledger acts as a digital resume for workers, eliminating the need for a paper resume. This also gives candidates ownership over their data, which they can keep secure and share with employers when the need arises.
Trust and Traceability
For industries like the industrial staffing sector that is used to traditional and outdated technology, the main challenge is often receiving limited information. Organizations within the industrial sector often include important players such as staffing suppliers, warehousing facilities, and candidates that all need to be connected to one another in a seamless fashion.
By utilizing blockchain technology, organizations can add a rocket fuel of trust and traceability within their system. Trust can be ensured through immutable records that can easily be traced and verified. Traceability, in turn, is evidenced by having a single shared ledger that all authorized parties can turn to for data visibility and a single source of truth.
Giving Yourself An Advantage
Embracing digital transformation is a must for any industry. It’s here, it’s happening. Using modern technology such as blockchain, artificial intelligence, and machine learning streamlines and future-proof processes. Not only are you ensuring a highly-skilled talent pool, but you are also creating a secure and transparent environment for everyone.