How Blockchain Can Benefit the Recruiting Industry

All recruiters are familiar with the business of trying to place someone in a company or trying to find someone for an open position.  Part of that process involves vetting and qualifying candidates for these positions.  This is often a very arduous task for recruiters or HR managers and some feel that Blockchaining can help streamline this process, saving valuable time and money.

 

What is Blockchain

William Mougayar, a blockchain specialist, compares blockchain to Google docs. Any party that has access to the document can edit its content and all parties can see the changes in real time.  This keeps the information constantly up to date and reduces the need to have multiple copies of documents showing different versions.

How Can Blockchain Benefit Recruiters

Vetting and qualifying candidates is arguably the most time consuming task for a recruiter. Often, credentials are lost, stolen or faked. Trying to ensure that candidates’ credentials are legitimate requires multiple phone calls and in depth background checks. Blockchain could streamline this process by storing any information a recruiter would need to know online.  This information would be properly vetted and available to recruiters with just a few clicks. Imagine the time and money that could be saved. 

Onboarding is another process that requires a lot of time and human resources. Keeping a new hire’s prevalidated credentials on the blockchain, could reduce the amount of repetitive paperwork that HR professionals spend doing. Tarshina Charagi, VP of corporate strategy at ADP believes that blockchain will also reduce the incidents of fraud in the recruiting system as more information becomes easily verifiable. 

 

Unlike current social networking sites, blockchain gives more control to the owner of the content. Using a cryptographic key, owners can directly transfer data with no middleman. Candidates can determine what information is shared which could lead to less bias in the recruiting process. Searches can focus on education, credentials or other job relevant details, all which can be easily verified by the blockchain.

 

While blockchain is just starting to be utilized in this way, as the technology proves itself, it will become a useful and powerful tool in the recruitment process.


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