Breaking Down Blockchain: Redefining Recruiting and Credentialing with a Verifiable, Permanent Network

Ike Bennion

Director of Product Marketing, Innovation and Strategy

Editor’s Note: In our four-part series, Breaking Down Blockchain, ReWork explains the potential of this promising new technology in the world of HR. Check out our previous piece, on how blockchain is transforming resumes, here.

HR executives know this well: the challenge of recruiting is a delicate balance of moving quickly, but vetting thoroughly. First, hiring managers must find a selection of highly-qualified candidates and schedule interviews for them with key decision-makers. Then, HR teams must also verify candidates’ accomplishments and accolades. This step is crucial since resumes can be ripe with falsities, but it has to happen efficiently to avoid hiring delays and risk losing the candidate. Meanwhile, even the most accurate resume may not fully represent an applicant’s skill set and experience. Sifting through the noise to find the truth—and to accurately determine an applicant’s unique assets—can feel nearly impossible.

Cue blockchain. Blockchain, a digital ledger system composed of "blocks" of data arranged in an unchangeable sequence, has found its way into the talent acquisition space. Earlier this year, Cornerstone joined the Velocity Network, a nonprofit organization committed to supporting research and development of applications for transformational blockchain technology and promoting global adoption of a network for verified career credentials.

How exactly does blockchain make recruiting and other key HR functions simpler across the board?

For one, it provides a possible solution to the resume conundrum by offering a verified collection of facts available on a network. But there’s additional potential, too: From speeding up credential verification for employers, to taking the stress out of proving qualifications for employees, blockchain promises to make recruiting and onboarding more secure and thorough for employers, and provide a more consistent credentialing process for employees.

With Blockchain, Verifications Come First, Not Last

Blockchain use cases in recruitment involve the verification of various claims. This can range from diploma verification, to confirmation of past employment and other elements included on a resume. For example, in the hiring process, a background check usually happens as the last phase, sometimes even after an offer is extended to a candidate. These checks can be costly and time consuming, delaying and raising the cost of an already expensive and potentially lengthy hiring process.

But with blockchain, an applicant’s entire academic and employment record is already stored on the blockchain network. That means recruiters can simply access employees’ records with their permission early on in the application phase, and weed out any candidates that don’t meet a company’s requirements or needs.

"There’s complete trust at the very start of the process," explains Elina Cadouri, a California-based COO and co-founder of the data network company Dock, which provides a range of blockchain tools that enable businesses and developers to create and verify credentials.

Because blockchain is an unchangeable data chain, employees’ records are verified and standardized—a fact that even makes internal hiring and mobility simpler, says Cornerstone Director of Product Marketing, Innovation and Strategy Ike Bennion. "Now I can hire with more certainty, quicker, which is that Holy Grail in a very fragmented market that everyone is trying to take advantage of," Bennion says.

Bennion describes an individual’s blockchain data as a digital passport that employees can carry from one place of employment to the next. And so, employers can look at these passports to compare candidates on a level playing field: the data is verified before a company consumes it.

Additionally, blockchain allows for verification of work on projects or the development of specific skills. An employer can give workers stamps for certain achievements and efforts. That way, companies can see exactly what the candidate has done in past positions—and they don’t just have to take their word for it.

Blockchain Keeps Credentialing Accurate During Onboarding—and Beyond

Once the hiring process is complete, there is opportunity to use blockchain in other ways as well. For example, a company can honor blockchain credentials to ensure that past learning experiences are carried over into new roles so that development can continue.

"[Having] these records [enables workers to] continue to show value and continue to be used throughout someone’s career, and maintain that value," Cadouri says. As employees work to grow their skills at a company, blockchain credentials and microcredentials become significant incentives. Courses taken through a learning management system (LMS) are no longer just valid at their current organization—they instead become verifiable achievements that workers can take with them throughout their careers.

"It’s a way to present or to give employees some sort of reward for learning on the job, and to continue to support their growth while they’re at the company," Cadouri says. "It’s something tangible. It’s not just a pat on the back."

This can change the way individuals treat their own learning and development as a company employee, Bennion says. Having a digital "diploma" to bring from place to place creates incentive in and of itself to develop. Employees no longer have to "reset" with each new job, he explains.

Onboarding Blockchain Itself

Implementing blockchain can seem a daunting task, especially for HR departments with longstanding traditions of set-in-stone hiring practices. "A lot of people get stuck on the tech and they’ve heard of bitcoin and crypto and these concepts feel very kind of futuristic." But the blockchain industry is focused on adoption right now, Cadouri says, and this means an emphasis on user experience.

Organizations looking to integrate blockchain into their existing hiring practices might look for partnerships with companies developing this technology, including the organizations in the Velocity Network. An emphasis on partnerships means that companies adopting blockchain do not necessarily need internal developers who work with blockchain directly. Adoption becomes much more realistic in this way, Cadouri says. But choosing a partnership and getting started come with details specific to each company.

"It’s tricky because each department’s going to have different needs that blockchain could address," Cadouri says. "I’d say it’s similar to probably sourcing any vendor." Cadouri likens adoption of blockchain technology to the transition from paper to online hiring documents and communication.

"At a certain point, every HR department had to adopt online tools," she says. "As far as technology adoption goes, blockchain is next."

Did you know that Cornerstone joined the Velocity Network to help accelerate the development of a universal blockchain-powered network for HR? Learn more here and follow this series for everything you need to know about blockchain.

Related Resources

Want to keep learning? Explore our products, customer stories, and the latest industry insights.

IDC MarketScape:統合型タレントマネジメントの世界的企業 2021年ベンダー評価


IDC MarketScape:統合型タレントマネジメントの世界的企業 2021年ベンダー評価

コーナーストーンが「リーダー」に選ばれた理由 従業員体験は、企業の生産性、離職率、顧客満足度など、ビジネスの多くの側面に影響を与えます。統合タレントマネジメントは、彼らが体験する日常活動すべてに対する満足度を向上させます。 だからこそ、私たちはコーナーストーンが2021年のIDC MarketScapeレポートにおいて、統合タレントマネジメントの分野でグローバルリーダーの一社に選ばれたことを知っていただきたいのです。 IDCの定義によると、タレントマネジメントが貢献することとして、従業員の興味を引き、彼らの人財育成を支援し、報奨につなげ、人財としての確保を実現していくことが挙げられています。それらの目的は、人財の募集、採用者への初期対応と指導、教育と能力開発、活動評価、報奨の管理、キャリアアップと後継者選択の計画など多岐にわたる作業をコンピテンシーの管理や評価をもとに推進することで達成されます。 このレポートでIDCがコーナーストーンを高く評価した理由は以下のとおりです。 Sabaの研究開発チームが統合され、研究開発チームがさらに強化、拡大された スキルの特定、管理を可能にする機能が業界随一である 人財教育と能力開発の分野における優れた実績と豊富な経験・知識 IDCのレポートをダウンロードしてください。統合タレントマネジメントのベンダー評価詳細に加え、コーナーストーンが業界トップに選出された理由を確認いただけます。 出典:『IDC MarketScape:Worldwide Integrated Talent Management 2021 Vendor Assessment(2021年統合タレントマネジメントグローバルベンダー評価)』、リサ・ローワン、2021年7月、IDC# US45943220 IDC MarketScapeは、特定市場におけるICTサプライヤーの競争力を把握できるベンダー分析モデルです。調査方法として、定量的および定性的な評価基準に基づいた厳密な採点手法を用いています。調査結果は当該市場における各ベンダーの位置付けを示す、1つのグラフィックスによって図示されます。ケイパビリティスコアでは、ベンダーの製品、市場戦略、事業運営の短期的な評価を行い、戦略スコアでは、3~5年の期間にわたるベンダーの戦略が顧客のニーズに沿うものかどうかを評価します。ベンダーの市場シェアは、グラフ上の円の大きさで示されます。

新しい働き方と同じように 進化してきている コンテンツ


新しい働き方と同じように 進化してきている コンテンツ

新しい働き方と同じように 進化してきている コンテンツ ビジネスに貢献でき、成功するために必要なスキルは常に変化し続けています。そのような状況に対応するために、Cornerstone Content Anytimeは、現在最も必要とされてい るスキルを従業員に身につけさせることで、より優れたコミュニケーター、より力強いリーダー、より機能的なチームを構築することを目指しています。最新のコンテンツとそれぞれの学習者一人ひとりに合わせてパーソナライズされた学習体験により、パフォーマンスを向上させます。

コーナーストーン・パフォーマンス CSX


コーナーストーン・パフォーマンス CSX

個人のゴールをつないで組織全体の成果を出す 従業員全員が高いモチベーションを持って仕事に取り組んでいるといいのですがそれを確認するのは簡単なことではあり ません。従業員が自らの業務に目的を見出し、その目的を組織の目標と一致させる必要があります。コーナーストーン・パフォーマンス CSX では、人財の状況をハイブリッドワーク環境下でも 詳細に把握することで、組織の最優先課題を解決するための人財を迅速に特定し、動員することができます。



© Cornerstone 2022