Reportedly, background screening has become essential for an organisation’s employment process

There is no denying the fact that the era of the COVID-19 pandemic is likely to be bygone, but it has undoubtedly caused an unforeseen upheaval in the corporate arena, which has not only transformed the business landscape but has also altered the hiring process. In fact, as a result of the change, organizations now have more time to fill job opportunities that satisfy their requirements. However, putting out significant effort in selecting the right person for the organization is vital since it will foster a positive working environment and minimize the penalties associated with negligent hiring in the event of an employee’s underperformance, fraud, or criminality. This is where business organizations have adopted background screening of their employees before onboarding them to bring in superior talent with the appropriate capabilities and credentials, mitigating potential workplace misconduct and adopting it as a leading practice in the overall risk and compliance framework.

Over the years, background screening has become essential for an organization’s employment process. It helps to ensure that the hired applicants are trustworthy, reliable, and have the requisite qualifications to perform the job. Traditional background screening techniques, on the other hand, can be time-consuming, costly, and prone to errors. However, the cornerstones of a thriving corporate culture are trust, community, and a team that feels comfortable around one another. These elements are necessary for every organization to develop. This is where new-age technologies such as Artificial intelligence (AI) and blockchain have emerged as powerful tools that can be utilized to improve the background screening process and raise the trust factor between the company and the employee. So let’s look into how artificial intelligence and blockchain can be utilized to improve the background screening process.

AI in background screening

The term “AI” refers to a new age of technology in which computers and information systems exhibit a type of intelligence that mimics how naturally intelligent humans interact with their surroundings. But in addition to other things, the success of any AI-based system also rests on the beneficiaries’ level of faith in the technology. Analytics, data, and models are the three main pillars of AI technology. Blockchain technology may be used to decentralize these three crucial elements, which unquestionably raises end users’ trust and confidence in AI-based solutions. AI has therefore emerged as a viable solution to revolutionize the background screening process by automating the process and decreasing the time and expense associated with manual screening.

Here are some ways in which AI can be used in background screening

Artificial intelligence (AI) can be used to filter resumes and identify applicants who satisfy the requisite criteria. Recruiters will save time because they will not have to review each résumé manually. Second, it can be used to screen a candidate’s social media profiles for red flags like inappropriate behavior or adverse comments about current or prior employers. Third, it can be used to perform criminal background checks on candidates by scanning publically available records and finding any criminal histories associated with them. Finally, it can be utilized to confirm a candidate’s previous employment history by comparing the candidate’s resume to publically available employment records. Thus, the use of AI in background screening can reduce bias and errors, as it relies on algorithms rather than human judgment. This can increase employer and employee trust, as candidates are screened objectively and fairly.

Blockchain in background screening

Blockchain technology is a distributed ledger that may be used to store and verify data. It can alter the background screening process by providing a secure, transparent means of storing and verifying candidate information. In fact, blockchain technology appears to have the potential to tackle a wide range of issues. However, much more is to be discovered as blockchain adoption and investment proliferates. According to Research and Market, blockchain spending in India is expected to expand at a CAGR of 47.3%, from $289 million in 2019 to $4,348.3 million by 2025.

Here are some ways in which blockchain can be used in background screening

Blockchain technology can be used to securely and decentralized store candidate information. This assures that the data has not been tampered with or modified. It can also be used to validate a candidate’s credentials, such as their schooling and professional experience by generating a digital record of the credentials on the blockchain, which the required parties can access and verify. Furthermore, it has the potential to produce a secure and transparent record of a candidate’s employment history. Because companies can quickly verify a candidate’s employment history, this can help lessen the fraud risk. It can also be used to perform background checks on prospects by generating a digital record of the background check on the blockchain that the necessary parties can access and verify. As a result, blockchain in background screening can boost confidence between employer and employee by providing a secure and transparent mechanism to store and verify applicant information.

Technological Advancement: Playing a Major Role in Building Trust

It is not an overstatement to say that the cornerstone of a strong company culture is built on trust, community, and a workforce that feels at ease with one another. This is where the usage of AI and blockchain in background screening emerged as the most significant answer to help improve the employment process’s accuracy, speed, and security. These technologies can build trust between the company and the employee by lowering the time and cost of human screening and providing a secure and transparent means to store and verify applicant information. Thus, in the ever-evolving era, we can anticipate a significant improvement in the background screening process as organizations continue to employ these technologies.

https://www.financialexpress.com/business/blockchain/how-ai-and-blockchain-increase-the-trust-factor-in-background-screening/3056547/