Building Trust in the Recruitment Industry with Blockchain

Thanks to a decentralized blockchain-based network that has a trusted ledger, recruiters can validate applicants' resumes, monitor evaluation scores, and assess their skills.

Blockchain first made its entry in the financial sector and now is gaining popularity across various industries, and the recruitment industry is the latest one to benefit from this promising technology. The recruitment industry is adopting blockchain to address critical issues that are difficult to monitor.

Since employees are the real asset of any organization, choosing the right candidates is a huge hurdle for any recruiter. As the demand for smart employees is growing, recruiters are turning to technology for help. The technological disruption in recruitment, which started with the introduction of professional networking sites and job boards, is only going to escalate with blockchain. But, with the rising role of technology in recruitment, concerns about data security and reputation management are also surfacing. Building trust in the recruitment industry is essential.

Challenges Faced by the Recruitment Industry

With the rise of advanced technologies such as artificial intelligence, big data and deep learning, the recruitment industry is seeing a shift from the traditional paper-based recruitment process to an e-recruitment approach. But, there are several issues that the recruitment industry is facing with e-recruitment. Amongst the top concerns are confidentiality and security of candidate data. Since applicants upload their CVs online, there are high chances that the resumes are getting duplicated. If this happens, the time and effort invested by a recruiter to find the right candidate will go wasted.

Besides, recruiters have to undertake thorough verification of a candidate’s educational background, past medical records, and certificates. The process of data verification is lengthy, tedious, and time-consuming, as recruiters have to scan through each document minutely.

Blockchain to Build Trust in the Recruitment Industry

Blockchain offers a decentralized network, where candidate resumes can be uploaded. Not just that, even information like open positions, job descriptions, expected CTC, and employer details too can be saved on the network. As blockchain provides a trusted, validated, and secure keeper of digital assets, the recruitment industry can save time, efforts, and resources wasted in viewing a fake profile. Besides, blockchain eliminates the labor-intensive scanning of documents. With blockchain, recruiters can validate the authenticity of documents, such as work experience certificates, medical records, tax data, educational certificates, and several other documents.

The recruitment industry requires exactly what blockchain offers - reduced cost and the selection of trustworthy candidate data. There are already blockchain-based networking sites in the market, helping recruiters carry out trustworthy validation of candidate documents. A few years from now, we might see blockchain-based recruitment apps. These exciting apps will help the next generation of recruiters in identifying qualified employees in no time, as well as finding a trusted pool of candidates that they can choose safely.