A recently launched immutable CV built on a blockchain is considered to be first in the world as pioneered by entreprenuers and veterans of the workforce management. The program is designed to make a new assessment on the professional world while addressing a higher risk on fake qualifications for resumes.
Samsonite CEO Ramesh Tainwala recently resigned from his position when it was later found out that he faked his resume to make it seem more desirable. Tainwala was later on replaced by a luggage maker’s CFL Kyld Genreau with which the launch of WorkChain.io cane after.
“Did you see the story that’s all over the news about Samsonite CEO quitting because he got caught lying on his resume? Feels like a good opportunity to tell the story of yet another reason why the world badly needs the blockchain and its immutable data,” said Workchain communications director Seb Kipman in an e-mail interview.
He also added that the workID of the company uses blockchain technology in creating immutable CV that only handles trusted and verified data. This new found system is considered to be revolutionary for giving employers more ability in hiring with certainty as employees showcase their true ownership of their identities.
Kipunan cited a study on HireRight, a recruitment consulting firm that showed a number of people who lie on the LinkedIn profiles where recruiters even admitted on catching a candidate lying on their resume.
On a HireRight suvey, 85% of the employers exposed lies on applicant’s resume as they are finding more on these times than when rate five years ago was only on 66%.
“For example, although current employees present significant ongoing organizational risk due to their access to company assets, customers, and other employees, the HireRight survey found that 48% of employers do not rescreen their personnel post-hire – surprisingly only a 5% decrease from five years ago (53%), despite the opportunity that rescreening offers organizations to reduce their operating risk. For those businesses that do rescreen, the majority do so when employees are promoted or change roles. Just 10% of respondents rescreen contingent and/or contract workers – down significantly from 31% in 2013,” HireRight stated on its study.
WorkChain.io CEO Ivan Petrovic said that in today’s working world, employers stand no chance when it comes to trying to vet candidates.
Ivan Petrovic, Workchain.io CEO said that nowadays employers don’t have a chance on vetting their candidates.
“A line in a resume can be easily made-up, and LinkedIn is unreliable because more than a third of people lie on their LinkedIn profile,” he said.