If you check the recruitment industry then a massive change can be observed from the last two decades; from printed advertisement to online and even remote work opportunities which was impossible to think even in dreams. Hiring people is no more considered as small activities though this was not but become tougher day by day where searching a candidate is like looking for water in the sea because of obvious reason as unemployment is high but lack of skilled people make the situation worse. During the early 2000s recruitment system-specific people are required for the specific post, but the current scenario is different where you are selected for one position doesn’t guarantee the work related to that position only. The dearth of jobs with intense competition between the jobseekers encourages the recruitment industry to become more specific for recruiting by splitting into multiple sectors. For example, some companies are recruiting only for IT companies whereas some are working for retails. The real problem comes when companies are verifying the authentication of employees, and there is no conventional way to believe all the data that has been provided by the candidates as chances of faking experiences are more, and most of the candidates are doing this. And the most depressing part is the verification process consumes a lot of time and money as some companies are doing this job and charging a hefty amount for this but still, unable to provide 100% accurate data. Thanks to the emerging technology like Blockchain, the verification process becomes easy and cheap, and the good news is the data can’t be tamper.
But first, you should know that what is Blockchain?
It is a growing list of records that are linked and secure using cryptography, and each block contains a cryptographic hash of the previous block, timestamp and transaction data. That means each block has a record of previous and if someone tries to change one then the other blocks will verify by checking the previous data available in their blocks and if it doesn’t match then the modification will not happen. So no matter how hard a hacker tries to manipulate the data; it won’t be possible as this is impossible to hack all the computers manually that is operated in different parts of the world. Pardon me if I make any mistake as I try my best to explain in a non-technical way.
How Blockchain will change the recruitment process
In Blockchain, candidates’ data will be public. That means his/her educational qualification, professional experience, companies’ reviews and professional courses can be viewed by anyone and will be secured through a digital key though strong control of ownership is not the best way to secure the identity but the combination of authorization from different parties can solve this which is the fundamental purpose of Blockchain. So there is no chance of tampering the data. The process helps the companies to verify each data of a candidate without depending on the third party which saves a lot of time and money. As the data are already available, so the verification process will be relatively cheap. Still, most of the companies are not using it except few. Recruitment portal Job.com announced that it will use Blockchain-based recruitment process with $50 million ICO and Indian recruitment startup Mintly is already doing it from the last three years without any external funding.
The process is new but has the potential to change the recruitment sector. Technology is changing and the only way to become productive is to improve ourselves with it unless you are living in a cage, there is no way to deny this.