Recruitment Trends to Prepare for in 2019: Blockchain

Recruitment Trends to Prepare for in 2019: Blockchain

The use of blockchain for recruiting will continue to increase throughout 2019. The verification process is tracked and distributed in real time across a decentralized network without a central authority. When recruiting information is sent, a program accesses a ledger distributed across many computers. Each previous transaction may be reviewed but not forged. As a result, blockchain will increase hiring efficiency while reducing costs and the risk of fraudulent behavior throughout the recruiting process.

Increased Transparency

Because many job candidates embellish the truth on their resumes, in their references, during the interview or a combination of the three, employers often do not have a clear picture of their true knowledge and skills. When candidates who are not completely honest get hired, they typically fail within 18 months and end up working elsewhere. This costs the company additional time and money in recruiting another candidate. With blockchain, a secure and unchangeable ledger accurately keeps a record of every employee’s resume, references and work history. Employers could review the information for accuracy, gain a true sense of a candidate’s capabilities, and increase the odds of having a new hire serve the organization longer.

Verified Skills

A resume verification system could help employers develop employee profiles to verify performance, work history and related data to determine whether a candidate is a good fit for the company. Such a system would decrease time to hire and improve productivity. Employers would be able to determine which skills a candidate truly has rather than the ones they list on their resume. Such a system would eliminate the need for interviews dedicated to skill checks and allow more time to evaluate cultural fit, goals and intangibles that contribute to success.

Demonstrated Qualifications

Lower-level workers’ job history may not show their true value to a company. Blockchain could verify their educational history and job qualifications to reduce the risk of fraud and eliminate the need for sending official transcripts to the employer.

Job Transformations

Accounting, supply chain management, legal and other areas involving transactional administration may be significantly disrupted. Smart contracts that track the terms of agreements may eliminate the need for legal help when vendors do not deliver on their obligations. Such disruption would create a massive change in the structure of a company and its staffing requirements. Verification, administrative documentation and coordination of those functions would be unnecessary. As a result, transactional costs would be reduced and productivity would increase.

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