Forget about the major industries where technology has proved itself! Even the homes have become automated in the recent time. And obviously, all credit goes to the evolution of technology we are experiencing. Is it all hype? Is it indicating us to the next level of technology world? Then what about the HR industry? Is the HR industry also undergoing any such transformation or not? We have answers to all your questions! And if you already had any of these questions in your mind, then this blog is ultimately for you!
Once we are up with the technology trends in the hiring industry, the most recent and latest topic discussed is the involvement of blockchain in the hiring process. How blockchain will bring a revolution to the HR, is discussed below!
What is Blockchain?
Blockchain, known as the backbone of Bitcoin, is a distributed and a cryptographically secure platform. What makes blockchain unique is its decentralized model and giving the full control to its users. The data is stored in encrypted form and stored in "blocks" and forming a chain as the data increases. Now, you would be wondering that what concern does blockchain has with hiring? Or how can blockchain benefit HR Right? Let's go through the impact of blockchain on HR process!
Blockchain for HR and recruitment
is just not confined to banking and capital market sector, rather organizations like IBM, Microsoft, Accenture, etc are equally benefitting from blockchain. You can well imagine how effective it could be if we implement blockchain concept our hiring system. Making hiring more accurate, reliable, and easy will be the step towards the transformation. So, go through the key benefits blockchain will offer to the hiring industry!
- Background verification: The background check has always been a tiring and burdensome task especially for the candidates who have to fill out the authorization forms. Through blockchain, all the documents of the candidate including his identity proofs, previous degree & mark sheets, address proofs, employment history, and other necessary details will be pre-validated and securely kept on the safe platform.
- Talent sourcing & acquisition: Gathering information of candidates through different platforms and get profile matched with the suitable JD is simply not an easy task. Blockchain will suggest referral based connections in the network and therefore improving the hiring.
- Social networks: Unlike LinkedIn, having centralized model collects your information and sells it back to you, blockchain simple remove this concept. Having a decentralized network, it offers the full control to the user and manage the content accordingly.
- Paperless onboarding: Instead of carrying out the long tiring process of validating candidate information such as his address details, employment records, or anything, blockchain allows to carry out paperless onboarding easily and quickly.
Not only this, definitely the organizations are going to benefit from the blockchain involvement. Along with this, it will offer a reliable zone to candidates where they can keep their data safe because no one knows who all will view your profile over the web. So, making a switch to a blockchain based hiring software would be a perfect step towards a smarter future!