The verification industry has a lot of moving parts within any process, including applicants, businesses, regulators and the issuing authorities such as universities and colleges. In the third and final part of our interview series with Sunil Kumar, the DataFlow Group’s CEO, we discuss the current challenges within the verification industry and how TrueProfile.io aims to help improve current processes.
In our previous interview with Sunil, we talked about the importance of digitisation within primary source verification (PSV) and we continue on this theme by exploring the impact that revolutionary technology will have on the HR industry.
CEO, The DataFlow Group
Stephanie McKee (SM)
SM: What sparked the decision to introduce TrueProfile.io to the verification industry?
When we started looking at TrueProfile.io we approached it in the same way we have with several of our other products. Whenever we look at creating a new product we look at what problem that product will address and why there is a requirement for this. You really have to define the need statement. If you consider TrueProfile.io then who are the stakeholders for this service? One is the regulator, their role is to decide the law and everyone involved needs to adhere to that. Second is the employer and their role is to hire people. Then there is the applicant who is seeking a new job or opportunity. Finally, there are universities and what we call ‘issuing authorities’ – they are providing, teaching and creating alumni who are eligible for opportunities offered by employers.
So, what are the pain areas for each?
– Regulators: the only pain area is if an employer, applicant or issuing authority voices that the laws aren’t working in their favour and are becoming a roadblock for them. When the public starts challenging the law, it comes because PSV is taking too long or prevents opportunities.
– Employers: their pain area is if they cannot hire in time. They know they need to hire but are sitting waiting for the PSV to arrive; meanwhile, the position is open and they need someone in that role ASAP. Then this really becomes a social issue.
– Applicants: of course, their pain area is when they are waiting and don’t know if they are going to be hired. The 94% who don’t falsify information are suffering, their employment process is being delayed. If the verification takes a month then they are losing a month’s salary and opportunity – plus, the employer could find someone else in between.
– Issuing authorities: their pain area arises when their alumni aren’t getting opportunities because of these issues and they get negative feedback from former students which could damage their reputation in the future. The employability of their alumni is important for their reputation.
So, it’s a whole ecosystem and that’s where TrueProfile.io solves current issues with the time taken to process verifications by sitting in the middle of each party.
SM: So what are the benefits for members (applicants) and business partners (employers)?
TrueProfile.io’s Busines Partners will have peace of mind that the person they are hiring is fully qualified for the role, which safeguards their company’s integrity. They can also hire quicker and deliver a great candidate experience as a result.
And as for members – you know you have the skills. If PSV is done later, there’s always an unforeseen risk that it could come negative for some reason, so you’re living in that uncertainty. You never know how things are going to work so if you are pre-verified you’re not living with that uncertainty – you know that you’ll be positively verified and you’ll get the job.
SM: So overall, where does TrueProfile.io stand within the HR industry as a whole?
With this new technology, we serve the needs of everyone involved in verification and make the process much smoother. For HR professionals, the need for background checks being done over and over is gone. Once documents are verified they are stored on TrueProfile.io forever via blockchain and serves as a professional profile, which gives a competitive edge over other candidates and also helps to get you hired in the role you’ve applied for far quicker.
We know blockchain is going to be the future and we don’t want to be a Xerox, we want to be an Apple in the industry. That’s where we are headed by keeping ahead of the curve and offering a new way to process and handle PSV!
This is the final instalment in the three-part interview series that we have conducted with Sunil. If you missed them, make sure you check out the links below and if you have any other related topics you’d like our commentary on, simply send your suggestions to email@example.com
Interview with Dataflow’s CEO, Sunil Kumar (Part 1 of 3): Global Migration Trends and PSV