As an HR or business owner, you find potential candidates, manually screen resumes, and hire the best ones. But after a few weeks, you fail to identify a perfect candidate for the job. So, you repeat the process.
Sometimes, you come across the right talent pool but may not have enough time to hire and onboard them. And so, the recruitment process becomes highly frustrating.
That's where blockchain for recruitment comes in!
From spotting candidates with the skills and experience required to ensuring a hassle-free hiring process, blockchain can revolutionize your entire recruitment process.
Are you interested in learning how?
Before going into the how's and whys, let us understand blockchain and how it can help streamline our recruitment.
Blockchain is a digital ledger that stores different types of data across multiple peer-to-peer ledgers. It is a decentralized system that ensures every piece of information is stored in various locations and is connected, making it completely fraud-proof.
So, with such security in place, no hacker can get their hands on the data stored in a blockchain system.
You may have heard about the use of blockchain in cryptocurrency and financial transactions. So how does it work in recruitment? To understand how blockchain can transform your recruitment process, let's first look at the steps involved in a standard hiring process.
Suppose you wish to hire a candidate for the Data Analyst role. You will have to follow the steps given below:
The above process may take at least 10–15 days, and all this effort is for just one candidate.
What if you find out after a few weeks that the candidate cannot perform even the essential job roles? All that effort, time, and resources you spent are for nothing!
Now that you've picturized the regular hiring process, let's look at how this process would roll out with the involvement of blockchain technology.
Create a job description manually or use an AI tool to create an automated description. AI recruitment platforms like Notchup can help you create job descriptions within minutes. All you need to do is enter the required skills and qualifications to get a perfectly-written job description.
Once you've entered your requirements, they will match the candidate data stored on the decentralized yet secure blockchain system.
With a blockchain system, candidates cannot alter their background information and other crucial data like license numbers, professional accomplishments, and academic qualifications. That will help speed up your process and save you from multiple phone calls and emails.
A centralized system then stores all the data collected from the interviews and assessment rounds. So, you can quickly analyze the results and select the best candidate without much hassle.
Once the candidate is selected, the blockchain allows you to update the new employee's profile automatically. Since you already have all the data, you can instantly create digital employee contracts and give them the payroll number.
Using tools like DFINITY, BurstIQ, and MediaChain, you can easily create Smart Contracts to store them on the blockchain.
So, the process is much quicker and less time-consuming than a standard hiring process. Blockchain hiring comes with several other advantages too.
Blockchain technology can make the hiring process efficient, cost-effective, smooth, and hassle-free for recruiters like you. Here are six sure-shot benefits of hiring in the blockchain.
1. Secure Candidate Data
Candidates can allow selected individuals to access their data stored on the blockchain network. Once you have access to all the candidates' data, you can safely secure it on your decentralized database without worrying about a breach of information.
2. Verified Credentials
One of the best advantages of blockchain in recruitment is that candidates cannot lie about their qualifications. Their certificates, previous work experience, education details, and more are 100% accurate. So recruiters need not conduct background checks.
3. A Better Talent Match
You can rest assured that you're choosing the right person for the job with accurate information. After recruitment, you won't have to question your selected candidate's skills and abilities.
4. Faster Recruitment and Onboarding
Once you've finalized a candidate, you can prepare their contract, update their profile, and complete their onboarding process in a few clicks. So, bid goodbye to the endless paperwork and manual filling of information.
5. Quick Payroll Management
Apart from onboarding, the use of blockchain technology can help you even further down the lane. Even if you have employees from across the globe, you can pay them digitally – in terms of cryptocurrency. They can then easily convert their cryptocurrency into the currency they want.
Enjoy Benefits of Blockchain for Recruitment – Hire with Notchup
We just saw how blockchain could help recruiters in the hiring process. But how can you make use of this technology?
Platforms like Notchup can make it a reality. From using blockchain to store data and enhance onboarding through AI, Notchup can be your one-stop solution for the entire recruitment and onboarding process.
· Outline your requirements and get candidates that match your needs with our smart algorithm.
· The platform provides comprehensive online assessments to analyze each candidate's skills.
· Let our hiring experts interview the top candidates and recommend only the best ones.
· Book an interview time that suits you and hire your next teammate without hassle.
Get your hands on cool features like Digital Contracts, Performance Reviews, Timesheet Management, Online Payments, and more.
What's the hold? Get a demo and explore all the features now!
