Blockchain In HR & Recruitment – What Role Does It Play? Pt. 1
It’s 2020 already and we still cannot get over blockchain. It’s not even a puzzle to solve or an unknown mystery to unfold. In fact, it’s a saviour that has a crucial role to play in countless domains; Human Resources and recruitment being a few of them. Not like we have achieved a disruption in HR or recruitment with blockchain but there’s still hope, scope and copious potential. The gigantic shift from writing paper to digital notepads, literally in all spheres of life, is more than enough to prove this. Further, and a more concrete proof, is the pioneering of Google Jobs in the US market. Coming back to blockchain..
.. if you (still) don’t have much idea about what blockchain is
It is a huge database of digital records that is stored and managed by many computers. Every time there is a change in any data, these computers confer and make a note of it. Instead of replacing the previous information with the new one, they create a new ‘block’ to store this new information and label the previous information as obsolete.
Moreover, since a number of computers are involved there is enough proof that the transaction has happened. Therefore, everything is on record.
So how will blockchain in human resources and recruitment bring the much needed change?
Let’s look at the major areas where blockchain can become the biggest sigh of relief for HRs and recruiters-
More validation in candidate profile screening
There is no doubt in the fact that people lie in their resume. And why not? Because if they don’t then someone else will to get the job. It’s like the famous fish example-
You live in a village with 1 other person and the village has a pond populated with fish. If you hold back from excessive fishing thinking that it may harm the environment and disrupt the economy then you are at a loss. Because the other person will step over the line and do it anyway.
Karl Marx had a different opinion around this thought, however that’s not really the point. The point is to overcome the challenging part where recruiters have to segregate genuine resumes from the superficial, fraudulent ones that try to be evasive.
Blockchain in Human Resources will bring more validation to the candidate profile screening process because the updated candidate data will already be present in the blocks. Further, HRs will save a significant amount of time in background check as the blocks will already have the educational details, qualification, work experience, skills, hobbies and interests, everything actually. The blocks will be enough to cross-verify candidate information.
So even if a candidate would like to exaggerate and create an outlandish impression, it won’t work because the digital records will remain forever. Having said that, there is still some uncertainty in the technology but there exists a resolution. The Applicant Tracking System (ATS) that peopleHum provides is an exceptionally helpful tool for HRs and recruiters.
And who doesn’t want that?
Reducing the cost of the payroll process
Employers can actually use blockchain to process cross-border payments and abandon the monthly hassle of processing recurring remuneration. We know how costly exchange rates and other charges can be so it’s most definitely cost-effective if the process is automated and controlled by blockchain in human resources and recruitment.
This process will remove any third-party involvement and reduce the overall cost. In fact, the process will become more efficient and transparent. The candidates working remotely will be able to view the deductions, if any, and everything will already be on record. Therefore, there wouldn’t be any need to provide proofs and documents separately.
Improvising certification, training and performance management
As soon as new candidates get on-board, the next step for the HR is to ensure that they undergo felicitous training. Many organisations make their employees apply for certifications so that they can learn more about the job. Further, performance management is another key area where HRs spend most of their time to conduct fair evaluations.
It sounds this cumbersome and time-consuming, no wonder how much time is actually lost in implementing all of it. In the end, it’s all about managing and recording the progress to assist the candidates better. Blockchain can totally facilitate the process and create indisputable records in no time. Towards the end of year before the performance management cycles, the HRs, team leads and managers can make use of this recorded data to plan just appraisals.
Blockchain, therefore, works wonders
When it comes to confirmation, validation and authentication of values, events and activities. The reason why most of these modifications have been introduced in the first place is because there has been an extreme shift in the scenario that has further transformed the millennial demeanour.
They are hungry and curious because of which they ask too many questions. They are restless and therefore, want quick answers. Moreover, they don’t want to wait for things to happen that’s why they go ahead and make things happen. If they see no results then they have the tendency to move on to the next, bigger and better, project. But is it for the better? Is it going to bring more complications?
Let’s go with the more controversial question-
Are millennials just so high maintenance or do we really need blockchain for creating a better recruitment process?
The generation that we call ‘millennials’ today is different from how people of the same age group were a decade back. Like how my mother puts it – people were different before technology took over us with the sorcery of laptops, iPads, iPhones, and whatnot..
But my question is, why not?
Millennials have always had access to technology while growing up. Social media is easily accessible that is like the millennial emotional escape. Online shopping and chatting have become a favourite stress buster. Food, Uber, movie tickets, vacation bookings, etc., are only a click away. So, why not make something as crucial as a job opportunity an easy reach that makes them feel like they belong to that organisation? Of course, good things come with time but what’s the harm if good things want to come early on their own?
So basically, I answered my own question
We do really need blockchain for creating a better recruitment process. Not just for millennials but each and everybody, who wants to make it big in the corporate world. Even if millennials are trying to create a corporate web out of a corporate ladder, no big deal. Technology has gifted us enough power to deal with this fast-paced life. However, because of this we overlook interpersonal development at times. Hence, it becomes all the more important to train the machines to automate our tasks, to tap on the potential of blockchain to automate HR processes.
However, there is still time in order for the technology to get completely established. We know how important automation is and that’s the reason why peopleHum is providing that platform to organisations already.
This will ensure that we have enough time to connect and provide the mental and emotional support that we all need as humans. If you’d like to have more time for your colleagues and friends at work, try peopleHum. It will help you automate a lot of your tasks-
- Scheduling interviews and feedback sessions
- Setting goals for achieving targets
- Sharing ideas on a large platform for collective discussions and feedback
- Conducting effective performance management sessions
- Giving credit and appreciation to the hard-working, outperforming teammates, and more
- Analytics (19)
- Business Automation (12)
- Candidate Sourcing and Engagement (5)
- Change Management (9)
- Customer Centricity (1)
- Digitalization of Workplaces (5)
- Diversity and Inclusion (6)
- Employee (61)
- Employee Empowerment (2)
- employee engagement (61)
- Employee Experience (2)
- employee motivation (16)
- Employee Well-being (1)
- Essential Series (28)
- Evolution of workplaces (1)
- Future of business (31)
- Future of work (1)
- General (33)
- HR (87)
- HR Strategies (5)
- HR technology (76)
- Innovation (7)
- Leadership (40)
- Leadership Development (23)
- LeadersHum (13)
- Millenials (40)
- Millennial Workforces (2)
- Nurture (15)
- Onboarding (1)
- Organizational Cultures (16)
- People Centricity (1)
- performance management (20)
- Team work (4)
- Recruitment (9)
- Recruitment and Hiring (11)
- Talent Management (16)
- Development (1)
- Testimonials (1)
- Uncategorized (10)
- Nurture (2)