ResourceVerified is a Blockchain technology platform reinventing the process of verifying employee credentials ultimately automating a big component of the hiring process, thereby creating significant economic value and efficiencies for any employer.
The key challenges facing most organization on the hiring front are:
• Employee turnover rate – average 18% and higher in some industries leading to increasing hiring costs
• The Gig Economy – leading to an increase in contingent workforce
• Cost of a Mis-hire – is 5-27x the base salary primarily driven by a bad hiring decision
In addition to targeting the two key issues of high employee turnover and the Gig economy that will impact any large employer, the ResourceVerified solution will also address the industry-wide macro challenges of high cost and the time consuming process of verifying candidate credentials, particularly in light of the falsification in resumes and the growing contingent workforce.
ResourceVerified started working on this initiative three years ago and is a live platform that gives employers the ability to receive verified credentials (education, employment and any licenses) and this verified data is immutable, irrevocable and 99.9% reliable. ResourceVerified can further rank the candidates by matching the verified data to the job specifications making it more efficient for the hiring manager. This innovative approach makes the current verification process transparent, automated, efficient and can reduce costs and can be incorporated with minimum disruption into any process.