Keeping companies honest

The benefits of a more open and transparent hiring process aren’t limited to recruiters – there are also clear advantages for candidates. Companies aren’t the only ones who want more accessible and trustworthy information throughout the hiring process. Candidates need to know if a company’s claims about salary and benefits, the hiring process, internal mobility, and many other issues are accurate.?

According to a 2022 survey of 2,000 American workers, one of the top pain points for candidates is a “lack of clarity on salary.” Salary transparency is the top candidate priority for job postings, and almost a third of respondents say the failure to provide this information makes them assume the company is hiding something. One of the main reasons candidates are so focused on accurate salary information upfront is the time they often waste going through the entire hiring process only to discover that the salary is nowhere near high enough to accept the job – an experience that 54 percent of candidates reported having.?

Candidates value their time, and companies should respect it. The aforementioned survey found that another major source of frustration for candidates is the fact that the hiring process too often takes place “over multiple weeks or even months.” Candidates also complain that there are too many stages of the interview process (just about everyone has had the experience of feeling like they performed well on interviews one and two, struggled on interview three, did okay on interview four, and so on). A 2022 survey of candidates from around the world found that almost a third have abandoned a recruiting process because it was taking too long. Companies can’t afford to lose promising candidates by exhausting them.?

The hiring process can be streamlined in many ways, and technologies such as the blockchain can drive this shift. For example, another candidate pain point is the need to update resumes for each application – a problem that’s all the more pressing when independent work is on the rise. A recent McKinsey survey found that 36 percent of employed respondents (58 million Americans) identify as independent workers – a drastic increase from 27 percent in 2016. This means portfolios contain a wider range of individual projects, client referrals, and so on. When this information is on the blockchain, recruiters will be able to conduct sufficient due diligence on candidates and ask about work experience, certifications, and completed projects that are directly relevant to the role in question.?

Trust has to go both ways. Just as employers have every reason to ask candidates to be fully transparent about their qualifications, candidates have a right to all the information they need to decide whether the company is the right fit.

#recruiting #futureofwork #ai, #blockchain, #startups, #hiring, #technology, #entrepreneur