Current recruiting and hiring practices don’t show the full capability and potential of candidates – but with the application of blockchain technology, they could. Blockchain can save time in recruiting, improve the quality of data, reduce bias, and widen the playing field for underrepresented groups, writes Ike Bennion, principal product marketing manager at Cornerstone OnDemand and Board Proxy for Velocity Network Foundation.
It’s no secret that the ways organizations currently evaluate talent in the recruitment process are less than ideal. The World Economic Forum states that where you went to school and how you performed there is the number one predictor of your career trajectory. The irony is that this traditional way of thinking has poor predictive power of performance in the workplace.
So, why are data points like this still being used? It’s certainly not talent acquisition’s fault. The pressure to hire quality candidates quickly defaults us to the things that get us close: job history combined with as much insight as you can glean through the interview process. As a result, the recruiting space is a dizzying blur of assessment solutions, chatbots, scheduling solutions, video interviewing, and more to create an experience that isn’t terrible for the candidate while collecting as much data as possible.
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