Freelancing, a booming economy, demand for talent, and a skill-less workforce are all elements of a perfect storm happening in the US job market. Companies desperately need bodies to fill openings and perhaps are being more than lax in completing the often cumbersome steps in their well-designed centralized selection process.
Even with a well-designed process and plenty of candidates applying for open positions, Talent Acquisition teams consistently report outdated technology, competing offers, and dishonest candidates being some of the biggest persistent challenges to their well-designed processes.
Keys parts of the process are failing:
- Candidates are over exaggerating their resumes
- Candidates are becoming professional interviewers or being replaced in the interview with professional interviewers
- There is no time to verify any of the claims made by candidates
- Time to Hire metrics are looming over many recruiters; forcing them to push through candidates quickly
Can we do better?
The clear answer is YES! There is an opportunity to upend the entire system that continues to fail companies and recruiters alike on many levels. The process ultimately fails the well-qualified and honest candidate who should have been the best candidate for the job.
The simple answer is using a blockchain based technology.
A blockchain is an immutable ledger that both the employee and the certifying agency connect, and that cannot be changed.
Blockchain is better than a centralized database that we have all come to know and love in the form of applicant tracking systems, learning management, and HRIS systems.
Three easy reasons….
- Better Security
- Integrity of Data
- Speed of Verification
These are all great reasons, but ultimately the primary reason is TRUST.
- Trust that the data is accurate.
- Trust the data is secure for the candidate and the organization.
- Trust that the candidate’s information is quickly verified.
Blockchain enables each candidate to present a verified resume of certifications and experiences that is validated by third-party certification bodies. It means that you can trust their data and avoid re-testing and the time associated with verifying credentials.
The process could look like this:
In healthcare, one client has reduced time to hire from four (4) weeks down to 3 days, by having verification of applicant’s certifications happen immediately upon showing interest in the position.
For insurance companies, candidates were able to provide verification of all certifications and work history in minutes, rather than days.
Imagine the possibilities of a trusted process and hiring in days instead of weeks! That is the promise of leveraging blockchain for recruiting solutions.
For more information about how you can speed the time to hire and improve trust in the process, please contact us today.