11 April, 2018
The modern hiring process can feel pretty antiquated sometimes. Applicants resent scouring the endless pages of generic job boards and uploading their carefully crafted resumes, only to spend the next half-hour typing out their professional histories on the very next page. For employers, the recruiting process can be laborious and expensive—and a distraction from their day-to-day work.
One possible solution lies in blockchain technology. While it may take a couple of years for mass adoption of blockchain to happen, the hiring process stands to benefit from a number of its features. A blockchain is a public ledger of “transactions” that must be verified by the network at large. In terms of the hiring process, we can imagine a digital ID that reflects our professional development: when someone finishes college, a transcript is digitally added to her personal blockchain; a link to her article in Nature can be found as soon as it’s published; a background check will be recorded when she asks for one. She also has complete ownership of all of this information, which means she can send it wherever she wants, whenever she wants, assured that everything is in order.
Businesses also stand to gain from using blockchain technology. According to U.K.-based recruiting technology consultant Andrew Spence, “The big advantage of having verified candidate qualifications is to reduce the administration of doing background checks, to reduce fraud, and to put more trust into the hiring and recruitment market.” Jasmine Ye Han states in Bloomberg that “seventy-five percent of human resources managers report having caught a lie in a resume.” In a recruiting climate where resumes neglected online quickly fall out of date and the gig economy makes it more challenging to verify credentials, blockchain offers a solution by serving as a cryptographically secured, validated, one-stop-shop for managing much of the recruiting process.
At the core of this hassle is how to prove our identities and credentials are legitimate, and blockchain is especially equipped to handle exactly that. As technology develops, so too will the hiring process. In time we may see blockchain emerging as an essential tool for the job market of the future.
Featured image via Flickr.