Blockchain Recruiting: What Is It and How Can It Benefit You
The concept of blockchain can be pretty difficult to understand, especially when connecting it with recruitment. Classified under the second generation internet, it refers to the encrypted digital database shared by multiple parties in one distributed network. Any transaction that occurs in this space is recorded, verified, and stored in the database.
That also means that any transaction in the network is broadcasted to a particular set of allowed participants. In the end, you could have an unchangeable transaction log you can refer to at any time.
This could be helpful for an HR department that needs a transparent and decentralized method of communication. Since all files are present in multiple databases or locations simultaneously, they are all safe should an intruder or power interruption ruin your database.
The network also allows only specified people to access. Therefore, you can be more confident when you make transactions because you only deal with people you can trust.
How Would the Recruitment Industry Benefit from This?
The network can make any transaction complete, safe, and secure, and the HR department can benefit from this. The usual method is for HR to look over the candidate’s LinkedIn account, request a resume, conduct an interview, and connect to their references.
Blockchain technology can simplify the process and make every step more efficient. The technology enables the following:
- Instant recruitment
- Lets the recruitment team access the potential employee’s entire employment history
- Creates a more thorough verification process by issuing, displaying, and verifying digital credentials preventing misrepresentation of candidates on their resumes
- Access full disclosure about employment history—to see and review details, such as title changes, raises, the reason for dismissal, and more
This technology is a big help in saving people’s time and giving them precisely what they need to see, making the process more efficient.
Introducing the Smart Contract
Another feature that the blockchain network introduced is smart contracts—automatically created contracts based on the arrangements. This process is one way of utilizing technology to improve the process and perform jobs that humans could remove from their day-to-day necessities.
Here is an example for clarity:
Suppose you finally hired someone to fill the position. The traditional process involves a lot of different departments to secure essential data. You need to go back and forth between various departments to confirm the new employee’s payroll number, passcodes, access to the system, company email addresses, essential documents, and more.
Blockchain technology can do this process instantaneously. All the recruitment team needs to do is add the employee information to the system, and the programming will do the rest.
These are only some ways blockchain technology can positively affect and improve the current traditional recruitment process. Any HR department should consider innovating their systems to keep up with changing times. However, you must remember that the technology does not work without the human element.
If you want to improve your recruitment process and look for IT staffing solutions to tap, we can help. Technical Paradigm is your innovative IT workforce solutions powering the growth of our clients and candidates. We employ a strategic approach to your workforce needs, and you can expect a customized solution that benefits you. Contact us today to learn more.