Blockchain technology is primarily used to hold and transfer cryptocurrencies without involving a central entity. However, this technology has many other uses because it enables transparency.
One of the uses of blockchain technology is recruitment. It can help organisations to boost their recruitment process, which presently takes about 28 days in the UK from the day of first contact until an offer letter is given to the candidate.
Enabling procurement recruitment
One of the main attractions of blockchain technology is the ability to create smart contracts. These contracts can undertake specific actions without human intervention.
This feature has made blockchain attractive for recruitment, as it is possible to automate several recruitment processes, thereby ensuring that the entire recruitment process gets completed in quick time.
When CPOs are searching for candidates, they look for procurement professionals who are the right fit for specific roles. This can make it a time-consuming task to access databases to find the ideal candidates.
Thankfully, procurement recruitment professionals can now use blockchain technology to find and validate CVs. The technology can verify educational and work-related qualifications that would otherwise have to be done manually.
As recruiters will be able to verify candidates in quick time, it hastens the recruitment process and ensures that organisations find the right talent in the shortest possible time.
Verifying candidates’ backgrounds
In an organisation, when a candidate is shortlisted for a role, the background verification process begins. However, this can be a time-consuming process as selected candidates first have to fill out numerous forms to begin the verification process.
Blockchain makes the verification process hassle-free and cost-effective. As a result, candidates do not have to be on tenterhooks and can focus on the new role, while HR professionals can concentrate on their core responsibilities.
Blockchain technology has the ability to disrupt procurement recruitment by making the recruitment process transparent and quick. It also ensures that organisations and CPOs can find the right procurement talent for different jobs and roles, making procurement more effective.