Digitech Insights. 25 Mar 2022
When you first think of blockchain, you may think of cryptocurrencies or other decentralised platforms. But blockchain technology is becoming more widely used in a variety of industries these days, with one of them being recruitment.
Blockchain has the ability and the power to totally transform the recruitment process and significantly enhance talent search and hiring processes for recruitment agencies and employers.
One of the main benefits of blockchain technology for the recruitment industry is the high levels of security. With the transferring and storing of large amounts of personal data from date of birth to employment background and academic achievements, security and data protection are crucial to the recruitment process.
Blockchain technology could help to increase data protection within recruitment and even revolutionise the way sensitive information is transferred and stored. It can also make checking backgrounds, references, visa status and other personal information quicker to obtain and verify.
Blockchain can provide both the candidate and the employer secure real-time access to verified records, which provides confidence for the candidate that their data is safe and enables employers and recruiters to authenticate documents in an instant to ensure candidates truly hold the qualifications and experience required for the position they have applied for.
False or embellished information on a CV can be a problem in the world of recruitment, and is also fairly common. But blockchain technology has the power to significantly reduce this, helping recruiters and employers ensure they are hiring the best candidate for the role they are filling.
The adoption of blockchain technology for recruitment could also significantly reduce the admin burden of recruiting and onboarding new hires.
Employment contracting information such as electronic signatures, payroll details, security access codes and even performance reports can be held on blockchain and assigned in an instant, freeing up time for recruiters and employers to focus on communication with candidates and other high-value activities.
While the use of blockchain technology within the recruitment industry isn’t currently commonplace, its use is expected to grow in the coming years. With more and more industries and businesses accelerating their digital transformation strategies, blockchain is certainly a technology that has the ability to transform the recruitment industry.
The transformative powers of technology have disrupted traditional business models. Every business is now a digital one. To ensure continued growth, stability and longevity, businesses need to source the best tech talent.
Digitech became an early adopter in the transformative technology space. We have built up an enviable client and candidate base through strong relationships, hard work and keeping abreast of industry development. If you are searching for tech talent, get in touch to see how we can help.