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Recruitment without the recruiter?
As with all things tech, the first thing we really want to know is, „Will this put me out of a job?“.
We’re of the camp that believes that in most cases, technology makes humans more relevant, not less.
But let’s get real. Technology this transformative will have an impact on your career as a recruiter. More specifically, blockchain experts predict that smart contracts will have the biggest impact on the role of the middleman in recruitment.
What are smart contracts?
Like a vending machine, smart contracts are created from any automated action that is initiated on the blockchain after certain criteria are met. You put something in, you get something out.
This means transactions and workflows can be automatic, reducing the need for human input.
For example, when onboarding a new employee, you and your IT department has to dole out various passcodes, payroll numbers, login credentials, etc. Plus, you have to go back and forth between various departments, documents and emails to collect and verify the info you need to complete the employee’s profile and get them added into your system.
The blockchain ledger will let you skip this process completely by instantly adding employee info that is totally accurate and transparent.
Here’s how blockchain could disrupt recruitment:
Faster Referral and Background Checks
Work is no longer limited to a single location. Global travel, the gig economy, and the rise of the on-demand talent economy have totally changed the way we work and a candidate’s professional background is becoming increasingly tough to track and verify.
But in the future of blockchain, this process can be completed in an instant.
With blockchain technology, all our personal and professional information can be held on a one simple application, including anything and everything from previous addresses, social security number, employment history, education certificates, compensation data, visa status, and more. Basically, if you ever filled in a form field with it, you can find it on the blockchain.
As soon as the hiring authority receives secure verification of the candidate’s information submitted via blockchain (this happens in a blink of an eye), they can hire with the full confidence of knowing that 100% of the candidate’s info is true and accurate.
Extremely Fast Employee Contracting
Blockchain can also hold employment contracting info such as your electronic signature, payroll details, security access codes, performance reports and even psychometrics.
In theory, a candidate could be employed immediately and even get their contract and payroll number assigned in an instant.
For recruiters who thrive on the paperwork aspects of the business, this could spell trouble. But for those who want to eliminate the admin burden and focus on things like employer branding and improving communication with candidates, blockchain technology can seriously free up your time so you can focus on some of the more creative, high-value activities.
The End of the Traditional CV
Is blockchain going to kill the CV? There are two things to consider here.
First, recruiters spend a lot of time and money using job boards to find CV’s. But these CV’s can be old and outdated or even falsified. Let’s be honest, some are totally fake. It happens way more often than it should. Take, for instance, Scot Thomas, former CEO of Yahoo, who resigned shortly after being hired as he had lied on his CV about having a degree in computer science.
Fraudulent education claims are an even bigger issue when companies operate across multiple locations worldwide. With a global workforce, many employees will have studied and worked in different countries, making it extremely difficult for recruiters to verify their qualifications, especially if it involves having to translate information.
Second, candidates currently have zero control over their resumes and CV’s once they’re posted to centralized job boards. But with blockchain in the mix, candidates can have full control over their info via centralized resume databases. Got a fancy new training certificate to show off? Candidates will be able to instantly update their credentials via a blockchain-backed cryptographic profile, which gets automatically updated throughout their career.
A live, fully updated and completely validated CV? Sounds like a win for both recruiters and candidates.
No More Job Boards?
One area where the middleman is pretty likely to be eliminated include job boards.
There’s still a lot of speculation and at this early stage, it’s tough to tell exactly how this will play out but places that hoard data, such as large centralized social networks, could easily be disrupted by blockchain.
Imagine a situation where, rather than paying a job board to access CV’s, you pay (the best) candidates directly in order to download their data or contact them. Those with the best resumes are rewarded with a micro-payment.
This may sound super strange and transactional but by acknowledging a candidate’s value you automatically create a more respectful, value-driven dialogue between you and them.
What about GDPR?
Information on the blockchain cannot be deleted.
So what does this mean for GDRP compliance?
According to Technojobs Director Anthony Sherick, “the platform will be able to retract candidate data.” So the GDPR’s ‘right to be forgotten’ can still be applied, meaning that in most cases blockchain technologies will not automatically be considered GDPR compliant.
Only time will tell how this plays out. In the meantime, be careful before adopting any new blockchain technology, and never assume it’s compliant without first doing your due diligence.
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