your password has been reset successfully, Please login again.

Use Block Chain To Find The Right Employee For Your Company

Reckoning the candidates completely is not fair; an employer should consider crosschecking his background so as to ascertain whether the claims that have been made are true.
BY Jaspreet Kaur
Feature Writer, BusinessEx
Jan 31,2019

An entrepreneur needs to synchronize along with workforce to smoothly run a company. The workforce not only upholds the company but also acts as its conveyer in the outside world. As a result, workforce or employees play a crucial role in building relationships with customers. Guiding the employees in the projects and business meets dont yield significant results. It is mainly their behaviour, passion and expertise which are essentials to assess their performance. While hiring the candidates for the position, it is imperative to examine their potential in all aspects, including the backdrop.

Why Is Doing A Background Check Important?

Reckoning the candidates completely is not fair; an employer should consider crosschecking his background so as to ascertain whether the claims that have been made are true. A survey states that 85 per cent HR professionals find fake information in the CVs, which arises critical challenges for entrepreneurs.

The background check mainly comprises the following challenges:

Consumption Of Abundant Time

The background screening process is invariably lengthy and critical for HR professionals. The HR professionals have to devote hours and sometimes, even days to accurately check the details shared by the candidate. The discrepancy can be only sought after scrutinizing the CVs as well as Interview forms deets.

Problems In Checking With Previous Employers

Sometimes, HR professionals could not reach past employers easily which, in turn, extends turnaround time. Suppose, if the previous organization, wherein candidates have worked, closes down then it becomes difficult to check the background.

Difficulty In Tracing The Data

In essence, entrepreneurs or HR professionals need to contact third-party system, as well as verification agencies, to verify a candidates data. Mostly, data is managed by numerous companies at the same time which slows down the verification process and thus, responses are received very late.

Blockchain- A Solution To Quicken Background Check Process

With the emergence of Blockchain, it has become easier to crosscheck candidates profiles. Earlier on, HR professionals need to face a lot of problems while doing so. Now, professionals can do this by adding deets of candidates in the server.

First of all, the professionals have to select a server such as Node.Js server and then, education qualifications and work experience details. Following this, universities and the past organizations receive the information and thus, verify the documents sooner. Lastly, the verified documents get saved on IPFS.

Use Of Storing Documents In IPFS

In essence, IPFS means Interplanetary File System. This file system retains files as well as track versions steadily. Owing to the similarity in blockchain and IPFS, the conglomeration is precise for the use.

How Does Blockchain Help In A Background Check?

Verifying the documents from different agencies require huge costs. In addition, candidates need to authenticate their degrees after job changes which consume time. If the candidates details are saved in blockchain then HR professionals can easily check authenticated details. This process will reduce costs and save time.

Another advantage of using Blockchain is that the platform cannot tamper. The documents in this platform remain secured and authenticated. Everything in this process is automated and thus, requires lesser efforts.

Considering these advantages, Blockchain is notably good for recruitment arena. Nonetheless, some factors avert its use namely, transaction costs, intricacy and network speed. These costs are lesser than the verification costs that the companies need to pay out. So, the companies should examine both the scenarios and reflect on how Blockchain decrements companies expenses.

Please add your Comment
SIMILAR Articles
August 22, 2019
To create a level playing field, the government is deciding to open its online e-commerce platform, ...More
By Jaspreet Kaur
August 21, 2019
To achieve this target, the government emphasised on developing and infusing money in several sector ...More
By Jaspreet Kaur
August 16, 2019
With Series D Equity financing round, the valuation of ShareChat has incremented to $650 million. ...More
By Jaspreet Kaur
August 14, 2019
By making a transaction with Amazon, the Indian retailer plans to increase its valuation by INR 20 b ...More
By Jaspreet Kaur
August 08, 2019
The hyperloop company, Virgin Hyperloop One, and DP World will be developing the line in India. ...More
By Jaspreet Kaur
August 05, 2019
For developing a connection, an employer needs to convey the ‘human consequences’ of a work to the e ...More
By Jaspreet Kaur
August 03, 2019
Apart from RBI’s non-permittance to source data outside India, WhatsApp Pay had a fallback because o ...More
By Jaspreet Kaur
August 02, 2019
The leading food-tech company, Swiggy is trying to close a $700-$750 million round syndicated by Sou ...More
By Jaspreet Kaur
August 01, 2019
The food-tech companies have recently found cloud kitchen as one of the mediums to gain traction of ...More
By Jaspreet Kaur
July 31, 2019
According to media reports, CCD’s founder had leapt into Nethravati River, Mangaluru and after 36 ho ...More
By Jaspreet Kaur
July 30, 2019
The edtech company has raised its bars anew by closing its $150 million round of funding and in turn ...More
By Jaspreet Kaur
July 29, 2019
Amongst all, performance appraisal is one of the most crucial elements to motivate the workforce. ...More
By Jaspreet Kaur