Blockchain - A catalyst for background screening

Imagine an unhackable ledger system that could be used to record details about employment history.

Vivek Khanna
Blockchain_-_A_catalyst_for_background_screening.jpg

The awareness and importance of screening backgrounds is growing at a rapid pace due to the surge in crime and fraudulent cases across various sectors and designations.

When it comes to hiring a new employee there are a number of expenses involved in the process from recruiting to training and salary. We all know, ‘time is money’ and the time spent on reviewing resumes, conducting interviews and other related tasks are just the tip of the iceberg.

The goal of hiring shouldn’t be to simply fill an empty position as quickly as possible rather focus on a candidate’s experience and long-term success within the organization. An offer letter or induction of a new employee isn’t the end of the process as the employers need to continue to track the quality of the hire.

Before selecting a candidate, the employer needs to screen the prospect hire on the basis of qualification and certifications listed on the resume. Enterprises are lately investing heavily into verification, and thorough verification costs both time and money. To the world, sourcing and interviewing are the main steps of hiring a candidate. However, the toughest part in the hiring process is verifying the credentials presented by the candidate. 

... Using Blockchain to screen candidates will help reduce manual processes, duplication of paperwork, cut costs and provide effortless background checks. Not only does this mean- a better hiring process, it means the hiring process will take less time and be less expensive. It will not only make the job of a hiring manager easier, rather make them more efficient, effective and productive.
Vivek Khanna
Managing Director, First Advantage, India Region

A basic employee verification includes: 

•    Employment- Checks to obtain information related to employment history and past experiences. 
•    Education- Checks to confirm the qualification of the employee and the genuineness of the university and the certificates furnished by the candidate.
•    Address- Checks to verify the address of the employee to validate his or her personal details.
•    Criminal Record- Checks to ensure the hired candidate does not have a criminal background to maintain security at work.

The above screening steps are not only time consuming, it’s an imperfect process. If this process could be automated, hiring managers could focus on getting to know candidates. This means more time spent determining whether or not candidates are a good match for the company culture and assessing soft skills. Due to technological advancements, the idea of an automated screening process will soon be no more just a fantasy.

Technology is truly a game-changer that has crept into every single aspect of our lives. Advancement in disruptive technologies like blockchain, AI and internet of things is ushering in Industry 4.0- which in turn is changing the manufacturing landscape.

Talking about blockchain technology, it is one of the most incredible innovations and has the power of disrupting industries that allows for fast, secure and transparent peer-to-peer transfer of digital goods including funds and intellectual property without the need of a third-party intermediary. Basically, there will be no middle man anymore. It will be a transparent market for the transaction of goods and services without the time it takes to log transactions and the cost and labor that comes with this. 

Blockchain was first introduced to the world as a technology that underpins digital currency, but it is not confined to crypto-currency, and other industries are also looking to reap business benefits from it. One such example is blockchain’s possible application in the background screening industry.

Imagine an unhackable ledger system that could be used to record details about employment history. A resume verification system that can help employers develop sophisticated employee profiles—essentially an HR ledger—that could verify performance, work history and a host of other data that would be helpful in determining whether or not a candidate was a good hire for the company. Such a system could cut out a significant portion of the time it takes for hiring a candidate. All of the above could be possible if blockchain is integrated into the screening process in the near future.  

A lot has to happen first before this is a reality, but things are already starting to emerge. Close to home the Indian government has adopted a technology for initiatives such as IndiaChain and Land Records. With IndiaChain, the plan is to start issuing digital certificates on the blockchain for students graduating in 2019 and onwards. IndiaChain will allow for instantaneous verification of these certificates once the holder approves access.  

Blockchain is emerging in every field transforming all businesses and their processes from traditional to digital and it will also soon become more apparent in the hiring industry. Using Blockchain to screen candidates will help reduce manual processes, duplication of paperwork, cut costs and provide effortless background checks. Not only does this mean- a better hiring process, it means the hiring process will take less time and be less expensive. It will not only make the job of a hiring manager easier, rather make them more efficient, effective and productive.

Vivek Khanna is Managing Director, First Advantage, India Region

Disclaimer: This article is published as part of the IDG Contributor Network. The views expressed in this article are solely those of the contributing authors and not of IDG Media and its editor(s).

Blockchain - A catalyst for background screening

Imagine an unhackable ledger system that could be used to record details about employment history.

Vivek Khanna Jun 03rd 2019
Blockchain_-_A_catalyst_for_background_screening.jpg

The awareness and importance of screening backgrounds is growing at a rapid pace due to the surge in crime and fraudulent cases across various sectors and designations.

When it comes to hiring a new employee there are a number of expenses involved in the process from recruiting to training and salary. We all know, ‘time is money’ and the time spent on reviewing resumes, conducting interviews and other related tasks are just the tip of the iceberg.

The goal of hiring shouldn’t be to simply fill an empty position as quickly as possible rather focus on a candidate’s experience and long-term success within the organization. An offer letter or induction of a new employee isn’t the end of the process as the employers need to continue to track the quality of the hire.

Before selecting a candidate, the employer needs to screen the prospect hire on the basis of qualification and certifications listed on the resume. Enterprises are lately investing heavily into verification, and thorough verification costs both time and money. To the world, sourcing and interviewing are the main steps of hiring a candidate. However, the toughest part in the hiring process is verifying the credentials presented by the candidate. 

... Using Blockchain to screen candidates will help reduce manual processes, duplication of paperwork, cut costs and provide effortless background checks. Not only does this mean- a better hiring process, it means the hiring process will take less time and be less expensive. It will not only make the job of a hiring manager easier, rather make them more efficient, effective and productive.
Vivek Khanna
Managing Director, First Advantage, India Region

A basic employee verification includes: 

•    Employment- Checks to obtain information related to employment history and past experiences. 
•    Education- Checks to confirm the qualification of the employee and the genuineness of the university and the certificates furnished by the candidate.
•    Address- Checks to verify the address of the employee to validate his or her personal details.
•    Criminal Record- Checks to ensure the hired candidate does not have a criminal background to maintain security at work.

The above screening steps are not only time consuming, it’s an imperfect process. If this process could be automated, hiring managers could focus on getting to know candidates. This means more time spent determining whether or not candidates are a good match for the company culture and assessing soft skills. Due to technological advancements, the idea of an automated screening process will soon be no more just a fantasy.

Technology is truly a game-changer that has crept into every single aspect of our lives. Advancement in disruptive technologies like blockchain, AI and internet of things is ushering in Industry 4.0- which in turn is changing the manufacturing landscape.

Talking about blockchain technology, it is one of the most incredible innovations and has the power of disrupting industries that allows for fast, secure and transparent peer-to-peer transfer of digital goods including funds and intellectual property without the need of a third-party intermediary. Basically, there will be no middle man anymore. It will be a transparent market for the transaction of goods and services without the time it takes to log transactions and the cost and labor that comes with this. 

Blockchain was first introduced to the world as a technology that underpins digital currency, but it is not confined to crypto-currency, and other industries are also looking to reap business benefits from it. One such example is blockchain’s possible application in the background screening industry.

Imagine an unhackable ledger system that could be used to record details about employment history. A resume verification system that can help employers develop sophisticated employee profiles—essentially an HR ledger—that could verify performance, work history and a host of other data that would be helpful in determining whether or not a candidate was a good hire for the company. Such a system could cut out a significant portion of the time it takes for hiring a candidate. All of the above could be possible if blockchain is integrated into the screening process in the near future.  

A lot has to happen first before this is a reality, but things are already starting to emerge. Close to home the Indian government has adopted a technology for initiatives such as IndiaChain and Land Records. With IndiaChain, the plan is to start issuing digital certificates on the blockchain for students graduating in 2019 and onwards. IndiaChain will allow for instantaneous verification of these certificates once the holder approves access.  

Blockchain is emerging in every field transforming all businesses and their processes from traditional to digital and it will also soon become more apparent in the hiring industry. Using Blockchain to screen candidates will help reduce manual processes, duplication of paperwork, cut costs and provide effortless background checks. Not only does this mean- a better hiring process, it means the hiring process will take less time and be less expensive. It will not only make the job of a hiring manager easier, rather make them more efficient, effective and productive.

Vivek Khanna is Managing Director, First Advantage, India Region

Disclaimer: This article is published as part of the IDG Contributor Network. The views expressed in this article are solely those of the contributing authors and not of IDG Media and its editor(s).

Edited By : Mansi Joshi