We’ve all been there - the long hours refining cashflow forecasts, perfecting the business plan,...
For what feels like decades, many of us have anticipated a seismic shift in the recruitment industry - a change that would finally bring meaningful improvements. As someone deeply invested in driving innovation, there were times when I believed the recruitment model was too flawed to be salvaged.
We’ve witnessed countless trends emerge, only to be distorted and eventually fail, leaving behind disillusionment. Concepts like Recruitment Process Outsourcing (RPO), Master Vendors, and On-site Suppliers all began with promise, but often became cumbersome, creating a disconnect between employers, recruiters, and most tragically, the candidates themselves.
Applicant Tracking Systems (ATS) promised efficiency but instead fostered an era of automation that reduced recruiters to mere vacancy chasers, often at the expense of genuine candidate qualification. Meanwhile, some industry players did everything they could to wring every last penny out of the system, offering services like low-cost, fixed-fee recruitment. Their short-sighted tactics not only devalued recruitment consultants but also turned the candidate experience into a transactional process, stripping it of humanity.
Agreements like Preferred Supplier Lists (PSLs), designed to simplify the recruitment process, often did the opposite, offering little benefit to providers or candidates alike. Many in the industry paid lip service to improving the candidate journey, with very few actually implementing meaningful changes.
Then comes the arrival of Blockchain technology - a revolution that could finally bring about the much-needed transformation. Distributed Ledger Technology (DLT), more commonly known as Blockchain, has the potential to shift the balance of power back to the candidate. It offers them control over their own data, identity, and career trajectory. Recruitment firms must now either adapt to these changes or risk becoming obsolete in a new world where candidates hold the reins.
How Could Blockchain Revolutionise Recruitment?
1. Verification of Academic Credentials
Organisations like Learning Machine are already enabling educational institutions to use Blockchain to create verifiable records of qualifications. Candidates will have control over these records, which can be shared securely and globally. This can be a game-changer for displaced professionals who, under current systems, often face insurmountable challenges in proving their qualifications and skills.
For employers, the benefits are immense - no more chasing academic institutions to verify certificates. Blockchain ensures that fraudulent credentials are a thing of the past, offering an additional layer of security and trust.
2. Identity Verification
Blockchain also offers solutions for verifying identity. In situations where individuals have lost traditional forms of identification - whether due to political unrest, natural disasters, or other disruptions - Blockchain could provide a way to securely store and access personal identity documents. This would be invaluable in a globalised workforce, enabling both employees and employers to easily verify identity, work eligibility, and citizenship rights.
3. Career History and References
One of the most time-consuming tasks in recruitment is verifying a candidate’s employment history and references. Blockchain could serve as a living CV, providing a permanent, secure record of an individual’s professional journey. No more relying on companies that have merged, closed, or lost track of former employees.
Moreover, Blockchain could streamline processes like criminal record checks, which are often slow and labour-intensive. This would be particularly beneficial in sectors like healthcare, education, and law enforcement, where rapid hiring is often critical.
Health Records
When people relocate to new countries, they are frequently required to meet specific health criteria. With Blockchain, individuals could store their complete medical history, including vaccinations and treatments, securely. This could simplify the onboarding process for organisations by ensuring compliance with health regulations while also providing life-saving information in medical emergencies.
The Bigger Picture
Blockchain technology offers endless possibilities beyond those outlined here. In the future, we could see candidates maintaining living profiles that include psychometric assessments, video interviews, and more. All this information could be securely shared with prospective employers at the candidate’s discretion, eliminating the need for repetitive applications across multiple platforms.
Candidates will control who has access to their data, and recruitment will become more streamlined and efficient. Employers, too, will benefit from faster, more secure processes, enabling them to make informed hiring decisions without unnecessary delays or bureaucracy.
The shift is already happening, and those who fail to adapt will be left behind. Recruitment, as we know it, is evolving. The only question that remains is: will you embrace the change?
