Blockchain in Recruitment

Though it sounds trendy, the use of technologies in the recruitment process has been started long ago before the global pandemic when the world was normal. Recruitment was a pretty tough job at that time too, like today’s scenarios. Yes, it is right that it has been tougher than those times, as nowadays everything we do, we have to take help from technologies. And remote staffing has been a new normal in the recruitment process while a maximum percentage of the working population is remote workers and the businesses are running through the work from the home process. At this time, there are only technologies that keep us connected. When it comes to technologies, there are most of the information technologies which have already been used in recruitment, but what about the blockchain? Have you ever thought of using this in the recruitment? If I already made you think about it, then let’s start the discussion.

Blockchain in Recruitment

Blockchain is a digital ledger technology that provides uneditable and recordable transactions between two bodies. It is a group of interlinked blocks using cryptography, visible to everyone in the form of nodes. Blockchain consists of several blocks connected with a chain, having a rigid personal hash which makes it impossible to alter the contents of the chain. Blockchain made its great wave of change in the finance sector after being invented by Satoshi Nakamoto in 2008 when it was being used in the public transport ledger. Blockchain is a rigid record which cannot be altered, which gives a positive potential in the future. It has the bedrock and the ability to keep millions of data.

Now if you think of the workplace, you will eventually find out that the most important aspect of an organization is its employees, but while coming to the questions of trusting the new hires, most of the time they fail. This may happen because of the lack of verification process about the candidate’s resume. Since we were into the blockchain discussion, now let’s think this way, you get an applicant’s resume which may look like a perfect fit for your job vacancy, but due to the situation you may not be able to do a manual background check of that candidate and you blindly hire them based on their CV and the interview responses but turns out to be a bad hire. What then you can do? Let’s have a little peek into if the blockchain process can help us in this scenario. Let’s see how it will change the recruitment scenario in the coming years.

Blockchain Provides Validated Applicant Verification

It has mostly been observed that a considerable percent of the job applicants put false information in their CVs. This seems almost impossible to verify due to the lack of interlinked events. In HireRight’s 2018 employment screening benchmark report, almost 84% of the companies caught their employees lying in their resume. This is a major concern for businesses as most times. Involving Blockchain in credential verification of the candidate is an effective way to mitigate this issue. Information in the blockchain cannot be forged and it will always be available to all. Millennials do job hunting more often, hence verifying their credentials through mails and phone calls are very tedious and time-consuming. Therefore blockchain not only eradicates the issue of fault-proof-verification but also saves the valuable time of the HRs which the organization can utilize for other in-house beneficiary programs or more profitable purposes.

Blockchain Provides Genuine and Unaltered Data

Many sensitive data of the employees are accessed by the organizations, and these data need to be maintained with a stronger security system. Most organizations tend to upload their data on cloud providers by thinking that it is a safe practice, but it also exposes the data if hacked through advanced technologies, which leads the data to be breached or damaged. But this can be avoided if these data are stored in a ledger system. Being a digital ledger technology, Blockchain can fragment the data into blocks and distribute them over the network, which can only be accessed if you have the right key to access the data. Also, the user has to use authorized devices to access the data which makes blockchain the utmost impossible to get virtually hacked and this makes it so much technologically desirable and secure system to store the valuable information. Now, let’s imagine, you got an application from a candidate who looks like a perfect fit for your job role, based on his/her CV but came out to be a bad-fit while checking him/her background through a ledger technology like Blockchain, and through this, you just saved your company from making a bad hire.

Blockchain Provides Smooth Onboarding and Improved Employee Efficiency

One more tedious job for the HRs is the long hours of onboarding. This job does not bring any profit to the organization and also consumes a lot of time. It includes password shares, key card access, email account sharing, etc, which can be classified and streamlined if implemented with blockchain technology. Also, Oracle has applied for the patent of blockchain technology to increase the efficiency of employees. Therefore we can expect blockchain will be used to improve employee efficiency in the coming future.

The use of blockchain in the recruitment process will be more helpful with tools like Biometric Identification, QR codes scanner, etc, though it is still in the infant stage. The development of its long journey is yet to come. But comparing the progress it made in 12 years, it can be estimated that there will be no need of implementing more persons in the hiring teams if implementing the digital ledger, as the system can automatically identify the potential and legit candidates for the company’s valuable and precious job positions. The technology is set to change the complete outlook of future recruitments. Also, when we are unsure about this remote working new normal life, blockchain can be a very helpful tool in recruitment if implemented properly.

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