Editor’s Note: This is a guest post by Luisa Benton. Her opinions are her own.
You might have thought that blockchain technology can only be used for bitcoin, but, in reality, there is so much more to it. One unexpected use is in employment and recruiting. Blockchain can play a role in your finding valued employees and ensuring that the recruiting and hiring process goes smoothly.
Choosing the right employee is always a difficult task and if you don’t do it correctly it can cost your company both time and money. Implementing new technologies in your company’s strategy can really help you out. Here are a few ways in which blockchain will help you hire the right person for your company’s needs.
Cryptocurrencies like Bitcoin may be the number one reason why people rely on Blockchain. However, that is not its only purpose. Blockchain has uses well outside of the financial sector. It is time to think beyond payments.
A very popular way of using blockchain is through Smart Contracts. These were initially created to control and monitor the exchange of currencies. Basically, they ensure that all parties keep up their end of the agreement as nothing in the contract can be hidden or altered.
Online transactions make a lot of information available to the public. This can keep people honest. However, clarity also matters. A contract’s validity can be called into question if it is not clear. Fortunately, in order to ensure that nothing is left to question, there are many online writing websites to help you out with this task. You should aim at making the contract as easy to understand as possible so that the terms are clear for the other person who signs it.
Smart Contracts can really be useful in any business as they help you rest assured that the other person will carry out all the terms you set. This is very useful if you are hiring consultants or contractors, as the smart contract provides you insurance that they will meet their end of the bargain. If you are hiring W2 employees, a smart contract makes terms of employment quite clear. Written fairly, they can reassure new employees as well.
Digital Identity Protection
Identity verification is an important part of the hiring process. You are obligated to determine that the people you hire are who they say they are and that it is legal for you to employ them. Unfortunately, identifying documents can be lost, altered, or fabricated altogether. Also, once you collect identifying information, you are responsible for storing that safely and securely.
With Blockchain, an identity verification paper trail can be created. This doesn’t just impact official documents, it can cover any type of personal paperwork. Once those ledger entries exist that identity has been verified, there is no need for documents to change hands. Simply check the ledger to verify. Even a photograph can be added to the ledger records.
A potential employee can even store all of their personal and employment application in the cloud. Then, they can pass a key to anyone who wishes to verify that information. They can also permit schools and former employers to do the same. Even better, all of this could be done prior to any interviews. Think about it. Credentials, identity, work history, education, all verified in one place at one time.
How important is a good team?
There are many things that make up a great company. Out of everything though, the most important thing is to make sure that you have a good team on your side.
There are many qualities that make up a great team. Probably the number one thing you would have in mind is how skillful your employees are. But in reality, there is a plethora of skills that can prove useful in a company but is not always taught in a classroom.
Without the use of technology or any extra help, there are a few challenges a company can face when it comes to hiring someone new. First of all, you might not always be able to verify their credentials and qualifications they claim to have. There are many cases where people slip through the cracks and manage to land some high positions in companies, without having the proper skills.
Apart from these more obvious types of mistakes, many big companies tend to mess up by hiring people who are not fit for a job. This usually happens if they are not careful enough to create a clear and thorough job description, or they don’t focus on the right things when recruiting potential employees
While being able to communicate effectively is an important trait, a person’s skills are the most important. You always need to keep track of people who fit and can follow the terms of your company and are responsible and capable of producing a good result. This is the best way to avoid making mistakes that would cost your company a lot in the long run.
How can Blockchain help you with hiring?
Blockchain truly has a lot to offer your company when it comes to hiring someone new. As mentioned earlier, it can help you with verifying your employee’s credentials and making sure that everything they write in their CV is legitimate.
On top of that, if you have a larger number of people applying for a position in your company, you can easily gather all of their personal data and compare them so you come to a better conclusion. This would prove very useful for your company as you will be able to have quick access to their files and go through them in a matter of seconds.
Another very cool use of blockchain is through its university application. To say it in a few words, this will give you the opportunity to keep a file on the transcripts and classes that your applicants have attended; not only their certifications. Thus, in a few clicks, you can find any potential skills that they have acquired and that your company finds fit and can elevate its status.
Another possible usage of blockchain that can prove very helpful is that of keeping track of your applicant’s past jobs, resumes, and recommendations. These are all pieces of information that can help you decide if that person is the right fit for your company and it can also help you avoid hiring people who have shown some problematic behaviors in the past and negatively affected your company’s success.
Possibly the best thing about blockchain is that it is fairly easy to use. Everything works through simple applications and the fact that it is all operated online can make it a lot more user-friendly and easy to handle. If you need some help with getting started, you can always use the help of a blockchain developer who can show you the basics and help you understand how to use it and get started.
Give your business a great advantage
Using the latest technology for your business can not only help you make hiring a safer and easier process, but it can also boost your reputation and help you get better results in the long run.
Not only will you be able to assure that the people you hire are reliable and possess all the qualities they claim to have, you can also create a safer environment for everyone and make all processes run a lot faster.
What do you think is the biggest advantage of using blockchain in a company?
If you want to learn more about what exactly the blockchain is, check out this article.