22 June, 2018
The job market has become more and more difficult to navigate over the years. For employers, finding the right candidate for a position can be quite a daunting task. Sorting through all of the applicants is hard enough, but then verifying the information provided by those who seem ideal is another obstacle in itself.
According to HireRight, 85 percent of HR representatives have reported finding a lie on a job application. 46 percent of employers claim to know someone who has misrepresented information on a resume—mostly in regard to experience, past job duties, and education.
With blockchain technology implemented in the recruiting and hiring process, however, job recruiters can find the right candidate while avoiding falsehoods and unverified information on resumes.
Since the VeriToken platform is based on blockchain technoloy, all personal data—like the information included in your resume—is securely stored and can only be shared with the owner’s explicit consent. And before data can be published, it must first be verified by previous employers, educational institutions, or any other official entity that can confirm your information is accurate.
This eliminates the need for recruiters to conduct costly and time-consuming background checks for every candidate they are considering.
The advantage of VeriToken
We know that blockchain offers a level of security that gives both recruiters and job seekers peace of mind in the job market, but VeriToken takes that to a new level. By using our platform, job seekers who grant prospective employers one-time access to their personal data can be compensated with our cryptocurrency token in return.
This gives users an incentive to share more information, and the payment they receive for granting access to their data works as a way to ensure their information will not be seen by third parties or anyone they have not first approved. It’s also a great way to ensure that an employer is truly interested in that specific candidate.
And for employers, paying this small fee directly to the candidate they’re interested in boosts engagement and allows them to avoid having to verify resume information themselves.
Image via Pixabay.