Blockchain is the magical internet of the future and has already gained a lot of popularity. The practical usage of this technology is also limitless and have already been applied to various industries. Most of the companies who have embraced Blockchain are from finance and banking but even education, farming and governments sectors are using it for their benefits. Staffing and recruiting industry has also realized the potential of this technology and have started using it left and right. Some of the most impactful usage has been in the back office processes. Below is and account of top 3 ways it is revolutionizing back office solutions.
Reducing volume of repetitive work
Most of the usage of Blockchain as a technology is to authenticate financial transaction. In turn the miners who authenticate the transactions by solving a tough mathematical task are rewarded with some transaction fee or through Bitcoins. This is why most of the people associated this technology to Bitcoin; which however is just a use case and not all of it.
So, in case of recruitment the first thing how it is revolutionizing back office solutions is by reducing the volume of repetitive work. By very nature of the technology, it authenticates facts, figures, things and put it to an immutable and incorruptible chain. Which implies that once a query has been authenticated it does not need to be verified ever again. This helps in reducing the volume of repetitive work which is such a nuisance in case of recruitment back office tasks.
Whenever a candidate fills a form to submit documents related to proof that they are eligible for an open position and the staffing business takes too long to authenticate it; the trust of the candidate fades away and he/she loses interest in the position. However, with Blockchain, the authentication can be done as quickly as in 10 minutes. And this is possible due to vast reduction in repetitive work and enhanced trust due to this technology.
Use of Blockchain as has impacted other industries by helping reduce cost of authenticating values and data has similarly helped staffing industry to reduce the cost incurred in dispensing the repetitive and voluminous recruitment back office tasks. The cost reduction comes from combined benefit of quick turnaround and lesser need for human resource.
However, for the staffing businesses in the US the problem pertaining to recruitment back office assistance seem to be still looming large. The newfound problem is lack of Blockchain resources and even they are able to find one, the viability and cost of keeping such costly resource in-house is outdoing the gains of the technology. This is why, majority of staffing businesses are still keen to engage QX Recruitment Services USA as the best recruitment outsourcing companies India. QX helps US staffing agencies through its delivery centers in India where it has best of AI and Automation tools along with Blockchain technology to help staffing companies scale their business and profitability without worrying about cost factor of recruitment back office solutions.