Digital Verification and Blockchain - The Perfect Pair
<p>Often candidates in the hiring pipeline undergo mandatory digital verification where they are requested to submit their identity documents and credentials for verification. Many companies adopt this standard, specifically high-risk industries such as healthcare, education, IT, finance and engineering. As 2020 surprised us with unprecedented changes and events, the world adapted to various strategies and methods for long-term personal and professional survival.&nbsp; Similar to a ‘domino effect’, once borders closed and travel was restricted, talent professionals had to reconsider how they sourced talent and conducted their hiring processes.&nbsp;</p> <p>While many industries experienced mass unemployment, one industry that suffered from a severe staffing shortage was the healthcare industry. Throughout the year, global headlines about the pandemic highlighted the strain on current healthcare providers and staff, the burnout from overworking, and the negative toll it had on mental health collectively. Despite the obstacles, <a href="https://businessblog.trueprofile.io/top-tips-for-recruiting-remotely/">remote recruiting</a> became commonplace to source talent from a broader global pool of skills&nbsp; for continuous business growth.&nbsp;</p> <p>During the sourcing process, however, companies must request their candidates to undergo mandatory digital verification. Why? The global war on talent is raging as companies look to hire the best talent and candidates compete for vacant roles. As <a href="https://www.trueprofile.io/businesspartner/solution">6% of educational degrees are forged and 53% of job applications contain false information</a>, overlooking a mandatory verification process could <a href="https://businessblog.trueprofile.io/cost-of-making-a-bad-hire/">cost your company dearly.</a>&nbsp;&nbsp;&nbsp;&nbsp;</p> <h2>Blockchain Supporting Secure Digital Verifications</h2> <figure class="wp-block-image size-large"><img loading="lazy" width="1024" height="535" src="https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/shutterstock_1098007427-1024x535.jpg" alt="Digital Verification and Blockchain" class="wp-image-10890" title="Digital Verification and Blockchain" srcset="https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/shutterstock_1098007427-1024x535.jpg 1024w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/shutterstock_1098007427-300x157.jpg 300w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/shutterstock_1098007427-768x401.jpg 768w, https://production-prod-trueprofile-blogassets-origin.s3.ap-southeast-1.amazonaws.com/uploads/2021/03/shutterstock_1098007427.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <p>You may have come across blockchain in the context of digital verification, but how exactly does it work? In standard terms, digital transactional information known as the “block” gets stored, decentralized, in a public database which is known as the “chain”. This means that no central party controls the block’s content on the chain, which responsively means that the block&#8217;s content cannot be modified or meddled with. Each party involved in these blocks can check the history of record changes. Having an applicant or employee verify their credentials and have those credentials securely stored on the blockchain inspires employers with trust and confidence while expediting hiring decisions.&nbsp;</p> <p>Although often associated with financial transactions, our use of blockchain for digital verification involves storing a user’s validated identity documents and credentials on the Ethereum blockchain, which the record owners (candidates/employees) can share with governing bodies, issuing authorities, employers, companies and more. Decentralized technology like blockchain provides individuals with the tools they need to have total control over how and when their identifying data is used. Engaging with job applicants whose verified credentials (passports, qualifications, good standing certificates, work experience etc.) are stored on the blockchain eliminates authenticity concerns for talent professionals. It also cancels out repetitive verifications, processing delays and reduces expenses.&nbsp;</p> <p>As the world moves towards a digital-first future, data security should be at the forefront of processes and client considerations. In addition to securely storing an applicant’s digital verifications, the emergence of blockchain to help streamline recruitment processes has been a key player in tackling other healthcare-related challenges such as staffing shortages, <a href="https://businessblog.trueprofile.io/the-true-value-of-verification-in-the-telemedicine-industry/">delivering telemedicine services securely</a> and rolling out secure digital identity standards for global travel and movement.</p> <p>If you are looking to hire pre-verified staff or want to find out how to verify new employees:</p> <p>– visit our dedicated&nbsp;<a href="https://www.trueprofile.io/businesspartner" target="_blank" rel="noreferrer noopener">Business Partners</a>&nbsp;area</p> <p>– or request your free 7-day trial of&nbsp;<a href="https://lp.trueprofile.io/recruit-medical-staff-free-trial/" target="_blank" rel="noreferrer noopener">TrueProfile.io Recruiting</a>&nbsp;today.</p>