Blockchain HR Network
Case Study
Know Our Patrons:
• Employers- Corporate companies and organizations - who have medium to high amount of recruitment needs
• Recruiting Agencies
• Candidates (experienced & freshers)
• Employees
The Problem
- • Conventional methods of candidate sourcing, verification and assessment are tedious and time-consuming, and costly if outsourced.
- • Lack of traceability of candidate information such as former employer, job role, pay scale, current employment status etc.
- • Possibility of fraudulence in resume in terms of certifications, work experience, personal information, etc.
Challenges
Employers and recruiters across the globe do not have a reliable common platform to source, verify and trace candidates. Often they rely on an outsourcing agency by paying hefty charges to get these tasks done and may still face unsatisfactory outcomes and discrepancies.
Solution
We designed a Blockchain-based HR network that will act as an exclusive, distributed, and decentralized platform accessible to both employers and candidates.
• One Point Access: Companies, recruiters, recruitment agencies, and candidates (both experienced and freshers) can become authorized members of the blockchain HR network.
• Candidate Profile Repository: Employers can seamlessly access and view candidate profiles based on their job vacancies and requirements. Candidate verification can be done easily using the documents and certificates in the candidate’s profile and by virtue of the candidate’s authorization on the blockchain thereby eliminating the need to rely on third-party agencies for the same.
• NFTs: Candidates can retain their profiles and portfolio as digital assets in the form of NFT thereby exhibiting their unique identity as well as marking ownership of the same.
• Candidate Profile Access & Verification: Employers can seamlessly access and view candidate profiles based on their job vacancies and requirements. Candidate verification can be done easily using the documents and certificates in the candidate’s profile and by virtue of the candidate’s authorization on the blockchain thereby eliminating the need to rely on third-party agencies for the same
• Candidate traceability: the blockchain platform allows complete traceability for the candidate apart from the profile by reflecting up-to-date information about the candidate’s employment status & history, employer reviews, former job roles and CTC etc.
• Onboarding & Offboarding Updates: The employer can update the employment status, job role, CTC, and other relevant information to the profile of a hired candidate during onboarding as well as submit reviews and update relevant information during employee offboarding. This data is accessible to all employers on the network and remains immutable.
• HR operations: Blockchain adds functionality for easy payroll processing by automating payments to the employees and allows tamper-proof smart contracts for the workforce hired on a contractual basis.
Benefits & Outcomes
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Enhanced recruitment process quality
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Mitigates chances of fraudulence and validates candidate identity
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Access to a large number of verified and authentic candidate profiles
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Effective candidate verification
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Secure and immutable data
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Eliminates third-party dependencies & reduces manpower needs
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Jobseeker profiles get authorized and authentic exposure to employers
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Complete traceability of candidate
Endnote
Adoption of blockchain is reflected in every sector and it will have a major impact on the recruitment sector. For organizations and companies with bulk recruitment needs, a blockchain-based HR network is the most durable and cost-effective solution to meet their recruitment goals for short-term and long-term.