It is not true that many job applicants falsify their resumes to obtain jobs with their desired organizations. Additionally, in rare instances, human resource experts hire the wrong candidate. Regrettably, this results in security, performance, and compliance concerns.
Businesses and customers alike are becoming more mindful of data security and compliance problems. As a result, companies, more than ever, require a properly skilled and trusted pool of employees. How do they determine which applicants are the best fit? Yes, by doing background checks on prospective employees. Companies do standard background checks on employees to verify needed credentials such as educational certificates, residential location, job experience, and criminal history.
However, is the procedure entirely secure? The response is not always positive! The traditional technique of verification has its flaws and is filled with human errors. A candidate can easily hide false information during a traditional verification process. Hiring the right candidate has grown increasingly challenging since over 60% of employees in the United States of America fabricate their CVs to obtain jobs. Why is the figure so large? Over 48% of human resource managers cannot authenticate employee data due to a lack of resources.
A Blockchain framework is an effective answer to all of these difficulties. It has the potential to accelerate the background verification process in a more trustworthy and secure manner.
What is Blockchain Technology
Blockchain technology is a decentralized, unchangeable ledger that streamlines the process of recording transactions and monitoring assets within a corporate network. A physical asset (a home, a vehicle, cash, or land) or an intangible asset (intellectual property, patents, copyrights, branding)and Almost everything of value may track and sell on a blockchain network, mitigating risk and lowering costs for all parties involved.
Certificates Secured by Blockchain
When standard certificates are stored in a public Blockchain system, this is known as a Blockchain ensured certificate. After uploading the professional or educational credential to the blockchain system, an OTP is given to verify the owner’s authenticity. After all, tests are completed, the blockchain-secured certificate is instantly transferred to the public blockchain. And when it is within the Blockchain framework, it is available online 24 hours a day flawlessly.
The certificate is available at any time. All you have to do now is request a Blockchain entry. Upon initiating the request, a digital copy of the certificate with all credentials and transaction information is e-mailed to the user. It’s quite straightforward.
Why is public blockchain technology used?
Users have complete control over the transaction history of blockchain documents using a public blockchain. In other words, you may use its decentralized data architecture for direct data exchange. Because everything is signed up using a cryptographic framework, it prevents the spread of incorrect information. In a centralized system, data theft is also impossible.
Let’s look at some more advantages of utilizing a public blockchain to your advantage.
- Ensure full authenticity with a tamper-proof system
- Digitally transfer/send certificates to anybody
- Certificates are accessible at any time and from any location. Increased transparency and fairness in the verification process
Anyone may utilize the Blockchain-Based Verification Process.
Here’s how different stakeholders may utilize blockchain-based verification for a range of functions:
- Job seekers and freelance professionals may use it to showcase their work, experience, and qualifications.
- Schools and universities can use it to maintain and issue secure certificates.
- Businesses may verify credentials from native sources in only a few hours.
- Prevents candidate bias
What’s in the Candidates Store?
Candidates may apply for jobs using pre-verified documents using the Blockchain solution. A Blockchain-tested resume also appears distinctive and genuine in a stack of numerous applications. As a result, it can undoubtedly improve one’s chances of getting the job. Additionally, hiring managers may quickly choose the most qualified job applications.
Additionally, it aids in increasing the transparency of the recruiting process and promotes fair play among all stakeholders. Nobody can tamper with or change your resume in any way.
Verification Without Contact In the middle of the pandemic
COVID-19 has disrupted established business operations. Organizations may use blockchain technology to make background verification procedures safer for people. Additionally, firms may hire and verify personnel remotely using blockchain-enabled background verification. All you have to do is login and verify the information on a public Blockchain solution.
What is the Blockchain-Ensured Certification Future?
Work-from-home opportunities are becoming more popular, and The gig economy is on track to expand tremendously in the coming years. Employees will do a variety of tasks and offer a variety of experiences. It means that physically verifying all of the data will become a big issue for corporations. In this circumstance, the only way to execute a foolproof verification process reliably is through a Blockchain-enabled verification procedure. You may use it to securely and reliably check documents from anywhere in the globe. And all this will take place at a fair cost.
Due to the efficiency and reliability of Blockchain technology, an increasing number of firms will adopt it for employee background checks. Businesses may also recruit people from various cultures on a worldwide scale to help them grow. Businesses will benefit from Blockchain-enabled employee background verification’s efficiency, reliability, and affordability.