hrtechoutlook

How Blockchain has Revolutionized Employment Verification

HR Tech Outlook | Tuesday, February 01, 2022

Hiring managers will get a log of a candidate's history directly, and the time spent validating CVs will be saved.

Fremont, CA: Blockchain, invented in 2008, is a system that incorporates "chains" of unalterable ledgers, primarily for use in handling cryptocurrencies, most notably Bitcoin. In layman's terms, blockchain is a continually expanding collection of documents known as blocks connected and safeguarded using encryption. It gets controlled through a peer-to-peer network that follows standards for communication and new block validation. It's compelling because it's so unchangeable: blocks can't be changed retrospectively without affecting all following blocks, which needs network majority agreement. However, the blockchain is used for more than simply Bitcoin. The blockchain is also the newest tool in HR's toolkit. Though the technology isn't very new, HR managers have just recently begun using it.

Call it embellishment or stretching the facts, but many individuals lie on their resume. The problem is so common for recruiters and hiring managers that it has resulted in disastrous hiring in certain circumstances. In the case of resumes, blockchain technology can significantly reduce exaggeration. Schools can post degrees and educational details, employers can provide dates and titles, and certifying institutions can make information available. Candidates might then grant employers immediate access to their records. Although blockchain cannot ensure that all exaggerations or defects will get identified, it significantly minimizes instances of fake points and assists employers in obtaining the most realistic image of their candidate's qualifications before employment.

Let's check how blockchain has changed the face of employee background verification.

•  CV Validation

Using blockchain technology, recruiters may have a true database of resumes held by the candidates but where their qualifications and achievements are confirmed and acknowledged by the organizations they previously worked for and the colleges they attended. Hiring managers will acquire a log of a candidate's history, and most of the time spent validating CVs will get removed. As a result, there is no falsification or forgery, and it is a genuine representation of the candidate's accomplishments, education, and credentials.

•  Candidate Confidence

Candidates will profit from blockchain technology because it allows them to apply for opportunities knowing they are eligible for the role and, more crucially, without fear of other candidates submitting bogus resumes and qualifications.

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