BLOCKCHAIN - WILL IT REVOLUTIONIZE HR & RECRUITING?
Do you ever wonder how many hours are spent in verifying the credentials of candidates – many of whom have already been employed and have previously been vetted? While no one has an accurate figure, hundreds – even thousands - of hours per year are wasted in firms with even moderate hiring volume. Wouldn’t it be wonderful if there were a way to eliminate the need for constant re-verification? Wouldn’t it be nice to quickly know with certainty that the skills, qualifications, and experience the candidate lists are what they actually have?
Blockchain may come to the rescue – at least some leading edge thinkers are placing bets on its importance to the future of HR and many other disciplines.
The blockchain is best known as the platform for buying and selling Bitcoins. It was developed for that purpose and has a short history of securing financial transactions. But it is also being used in other areas ranging from the law to HR. It is one of the ways being explored to verify credentials such as education, previous employment, skills, and other data frequently required by employers. Blockchain could eliminate resume fraud and increase the integrity of the recruiting process because it is inherently secure.
Here are a series of articles that discuss and illuminate a topic that has many scratching their heads in confusion.
Blockchain for Recruiting
Raghav Singh discusses how it might work and what benefits it could deliver.
The financial world may be all aflutter about Bitcoin and Etherium, but HR could actually use blockchain to improve recruiting and hiring efficiency in these three ways.