Job.com Recruitment Blockchain: Company & Candidate Benefits?
Finding a job or an employee can be a nightmare on both sides of the equation. Many people in our society have a hard time finding the right job and many companies struggle to find the talent they are searching for. So much effort is wasted and the end result is often employing the wrong person for the wrong job.
What if there was a way to eliminate uncertainty, unnecessary spending, and offer complete transparency throughout the hiring process? Job.com is trying to do just that. They are attempting to use blockchain technology to not only reward those who are seeking a job opportunity but also those who are hiring them. Furthermore, Job.com will be able to offer full transparency throughout the process which will successfully eliminate any secrecy or smoke which is often present.
Job.com is also able to offer something else for both parties. Instead of the traditional and generally accepted 20% payment by the hirer, Job.com only charges 6%. But they didn’t stop right there, they also decided to take 5% out of the initial payment of 6% and offer it to the candidate who is applying for the job if they get hired. Getting paid 5% of your annual salary for landing a job sounds like more than enough to start looking for the job of your dreams!
Job.com Recruitment Blockchain In-Depth Look
The worldwide recruitment industry is worth just shy of $638 billion annually. Out of those $638 billion, roughly $150 billion is spent in the United States. A recruitment company usually charges companies in the USA about 20% of the candidate’s salary once a successful placement occurs, as we mentioned above. The problem is that our technology has grown to such a great extent that we no longer need recruitment agencies, which means that not only do companies get to save money while they look for the right candidate to fill their positions but the candidates themselves can be rewarded for finding the right fit for their talent.
How Job.com Recruitment Blockchain Works For The Company
The process is relatively simple. The first thing your company will need to do is register on Job.com and post the available job position onto the portal, which is free of charge. The site’s sophisticated technology starts sifting through the applications on the portal and delivering the ones you want straight to you.
Eventually, you find the right candidate and hire them; once this is done they start their probation period. Note that no charges are made at this point. If the company decides that you have found a good match and the probation period is passed with satisfactory standards, Job.com charges you 6% of which up to 83% is offered to the candidate as a signing bonus.
On a rare chance that the person you have chosen doesn’t pass their probation period, you pay absolutely nothing and can continue seeking other candidates.
How Job.com Recruitment Blockchain Works For The Job Seeker
Just like with many other job-seeking portals, the first thing you do is upload a resume. Job.com matches what you are looking for and delivers those matches to you. Everything on your resume and all the information associated with you is kept completely private. The database on Job.com is completely sealed and there is no way for anyone to search it.
Once you find the match you are interested in you can go ahead and apply for the position. The communication is done between you and the client. You both arrange the interviews and negotiate the salary as you would through any other platform.
Once you have started your probation period at the company you interviewed with, your wallet is updated with the signing bonus that you are offered. After you complete your probation period and your employer is satisfied and intends to keep your as an employee, the bonus is unlocked.
Job.com Recruitment Blockchain Road Map
The platform of Job.com is estimated to be launched on April 19th, 2018. Once the platform is launched, all of Q2 of 2018 is reserved for testing and preparations steps to ensure everything is functioning properly and the blockchain is being utilized correctly.
During Q3 of 2018, the platform will be integrated with the MyJobMatcher algorithm which will utilize matching technology to find the candidates and companies which are the best fit for each other.
In Q1 of 2019, the Job.com App will be launched and introduced to the users.
Q2 of 2019 will be reserved for optimizing and fixing various bugs and potential issues that might arise in both the portal and the app.
Lastly, in Q3 of 2019, once everything is verified to function as flawlessly as possible, Job.com will begin a global rollout of their portal and app.
Job.com Recruitment Blockchain Conclusion
The first thing we must ask ourselves is whether this is viable? After looking at everything that the blockchain has to offer and some of the numbers involved in the global recruitment industry, the answer is most likely yes.
The ability to eliminate the middleman when seeking for the right job and when looking for that special candidate offers multiple benefits to both job seekers and companies. The main one is complete transparency. Human beings aren’t exactly perfect and many of us fall to this little thing we call greed. One example of greed can be a hirer choosing to offer a job to a person who might not be fully qualified for a position for various reasons and some of those reasons might be due to money or financial benefits that the candidate might be offering to the hirer in question. Of course, this is a very specific example but no matter how much we would like to think that there is no way this happens, the reality is that it happens every day.
The other huge benefit of using the blockchain technology is the ability to save an enormous amount of money for the companies looking for these employees. Even further, being able to offer some of that money to these candidates is a huge benefit over the standard job seeking process. Nothing is better than getting a little bit extra when you get hired and find the perfect job.
In short, we think Job.com can definitely accomplish everything they seek to do. It’s about time someone rewrote the recruitment rulebook.