Throughout the time, Bitcoin has taken the limelight when we talk about the role of blockchain technology.
We are starting to see a rise in innovation as its impact on business has become highly understandable. Blockchain Technology is now adopted by many businesses and governments all over the world. The only industry that has a lot of scopes is Hiring.
I have a friend that has been working in recruitment for a decade. And I just felt frustration and a declining lack of trust in the process that people follow for collecting the references i.e. old process. By outdated process, I mean that references can be manipulated, misused, and abused very easily.
Over these recent years, the numbers of references that recruiters collect have decreased by an astonishing value i.e. two-third.
In the past, references show the real talent and skills of an employee, but according to research by CareerBuilder, utmost 75% of hiring managers find that the employee mentioned a lie about their skills and achievements in their curriculum vitae.
And even, there is a trend that is being followed nowadays, i.e. hiring primarily based totally on the abilities that personnel point out on “Personal Branding” pages like Linkedin.
According to me, this is a poor basis on which we can make an important decision, and unfair for skilled employees, who are truly deserving as they are not able to reach the recruiter.
Although, the traditional approach to background checking can not be budget-friendly, monotonous, and sometimes wrong as well.
According to me, there is no better way than checking the employee’s skills through verified references. And the loss goes on. And be shared in every device on the network, blockchain is the safest and trustworthy way of compiling data and an impeccable way to make sure the qualification of the employee.
Along with reliability, satisfaction, and authenticity of reference moving downwards, I found a chance for the application of blockchain technology to change referencing by eliminating many of the inaccuracies that come with hiring.
Zinc’s automated referencing, feedback, and the task is one of its kind that lets the recruiters gather the screening data with a single click. The recruiters get the employee’s information on the day of the hiring journey, before the starting of the interview.
A technical role of the UK requires on average 12 weeks to complete, by removing the need to reiterate some tasks, like psychometric tests, references, and team fit analysis, Zinc accelerates and makes the process easy.
There are around 2 million technology roles that are available, but somehow need to enhance the speed of the working.
The open-source of Zinc basically makes the process of recruitment really easy by joining and safely keeping the whole history and attitude of the employee and also fingerprint tests.
Entrusting workers is one of the utmost responsibilities, workers in the technology sector will have absolute ownership and control of their work’s prestige and identity, and how they want to share their information. By using the digital work passport, the verification of employees can be done more accurately and that too before the interview.
According to a report, an employee gets the approach of 50 companies through hiring platforms, like Internshala or Linkedin. Also, there is a belief by people that if references are given before the interviews, they would be able to get scheduled for more interviews.
The Posterity of Blockchain in HR
Blockchain-verified credentials bring possibilities for a whole new level of automation and reliability in the process of hiring. In the coming years, I believe that people will keep their information stored on a blockchain, including academic certificates and work history. It will depend on who we share the information with.
In the future, digital and verified records will become the ethics of all industries. It is the infrastructure that has been one of the issues for a long time and now it is identity verification.
This is the chance to bring the existing situation in a better condition using the technology that is ready and available. We are working with the employees, recruiters, and employers to bring their trust back right where it belongs.