There are companies who have started using blockchain technology to carry out the process of hiring a candidate. This has the potential to increase efficiencies in both time and ultimately cost for recruitment agencies. One of blockchain’s core function is to prove that an event has occurred – processes like verification of credentials, educational history, work references etc.
An example of a company looking to bring trust and efficiency to the recruiting process is Jobeum. Jobeum which works similarly to LinkedIn is designed to enhance transparency and speed, with cutting-edge innovation that sets recruiter and candidate activity as a benchmark of value.
Jobeum has the concept of an ‘Educational Passport’, where educational institutions will be able to digitally sign an individual’s credentials on to the blockchain so that they can be verified (with the permission of the individual) as needed. This could be particularly useful for new graduates who don’t have a work history, where a recruiter verifying their educational qualifications is the first hurdle to job consideration.
Since blockchain provides a “ledger” that you can’t tamper with (unless verified transactions), having a verified record of people’s references, career history and qualifications are where we see the future of blockchain going in the recruitment industry.
According to a research paper by HR Technologist, 91% of the modern workforce is constantly searching for new and better opportunities. Recruiters tapping into this supply pool could significantly boost hiring success and candidate-position fitment through blockchain technology.
So are you ready for the change?