Blockchain for recruitment offers a better solution to the antiquated employee acquisition process. From unnecessary cost to the risk of fraudulent behavior throughout the process, the age-old process of recruitment has been riddled with flaws.
However, blockchain has the potential to save all of us from a deeply expensive and inefficient process, or at least that’s the plan. What’s Wrong With the Current Recruitment System Before we can go on to tell you how brilliant blockchain is and how much it’s going to improve everything, we need to get into the detail of what exactly is wrong with the recruitment process in the first place and then identify the cracks this technology is looking to pave.
Some believe that recruitment consultants may even hold onto their best candidates so they can put them in front of clients offering bigger commission payouts or perks. This can result in other candidates getting placed in roles that may not be the perfect fit.
The problem is, until now, there has not been a technology that could slot into the center of the hiring process—a system that could manage, track, and keep a record ledger of everything that goes on from job application to the signing of new employee contracts. How Blockchain Can Provide a Solution It’s simple: companies don’t want to pay the 20 percent fee that agencies charge.
Many feel bound to this service because of the lack of fruitful alternatives—until now. Blockchain for recruitment could finally stitch together all of the other technologies found within the employee acquisition process, harmonizing with syndication, matching, and CRM systems to create an end-to-end solution that is recorded on the blockchain, crystallizing into a smart contract between candidate and hirer. Read more from thebossmagazine.com…
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