The global pandemic has changed hiring practices and workplace norms for everyone. Both individuals and organizations alike are now working in new ways. Businesses have been adjusting to working from home, hybrid work, and quickly preparing their teams to do the same. “The Great Resignation” threat has also seen major staff turnover with organizations losing team members in record numbers.
The above market factors have also created an environment where false certifications are more common. As businesses try to quickly address labour shortages caused by the pandemic, many candidates will falsify their qualifications to secure a job.
The impact of candidate fraud is a real area of concern. 78% of candidates admit they have or would lie on job applications, and 66% of hiring managers admit they are willing to accept these lapses in ethics simply to fill positions.
Aside from the criminal aspect, false employee documents have serious safety implications, putting lives at risk. While it is common for degrees or certificates to be checked, many candidates will get away with false information on their resumes. Employers often don’t find out until the candidate is under performing in their position. With the average cost of a bad hire costing up to 30% of the employee’s first-year earnings, it can be an expensive misstep.
The post-pandemic realities have changed the recruiting landscape for good. What worked in recruitment in the past may no longer be right for today. Successful recruiters must evolve to accommodate those shifts. Workers are also re-evaluating their priorities, values, and goals for their careers. Their needs are more complex, their priorities are more nuanced.
In the post-pandemic workplace, anyone can work for any company, anywhere. Recruiters can expand the scope of their candidate search beyond traditional geographic boundaries. With potential candidates originating from international markets, recruiters will encounter different types of professional information, including university degrees or business licenses from international issuers.
In this new working model, digital identity has finally come of age. A new study shows that the number of worldwide digital identity users will reach 6.5 billion by 2026. Accelerated by the pandemic, this trend highlights the big impact digital identity will have on all business sectors, including recruitment.
As the digital world continues to amplify our online footprint, recruitment processes need to keep up. An emerging data standard called verifiable credentials is already advancing this idea. Verifiable credentials are the digital equivalent of the traditional paper documents that we’ve used for years to prove who we are in the physical world. In short, they are simply digital objects, like certificates and training documents, consisting of claims made by an issuer, like educational institutes, training companies or government agencies.
With verifiable credentials, the verification process can happen instantly across secure global networks. They give the individual credential holder the right to completely control the personal or professional information inside.
Candidate qualifications will be available for recruiters to review and instantly verify, saving you time, money, and energy. No more wasted background checks and mis-hires, making a better, more effective hiring experience for both you and your candidates.
One of the key ideas that verifiable credentials support is the concept of self-sovereign identity. On a general level, self-sovereign identity is intended to preserve the right for selective sharing of different aspects of anyone's identity and the various components contained within.
Self-sovereign identity also refers to the idea that individuals keep control over their data and, to a certain degree, over their identities within a particular identity management system.
This requires giving them the ability to establish who has the right to access specific pieces of information about them, with a high degree of detail.
Credivera builds digital identity solutions that return power and control into the hands of the individual, allowing each to own our personal and professional credentials, whether in person or online. We put the value of verifiable credentials to work for everyone.
For individuals, recruiters and issuers alike, verifiable credentials offer secure, tamper-proof and independently verifiable information using globally accepted data standards. In combination, these key components boost the visibility, confidence and control you have over your recruitment process, regardless of what type of role you’re seeking to fill (full-time, part-time or contract).
For individuals, we provide visibility and control into their valuable skills and background. Anyone can share and, just as importantly, withdraw, their digital certifications if they choose.
For issuers, we bolster alumni visibility and good standing confirmation, maximizing the reach of people and programs while maintaining certifications on an ongoing basis.
For employers, operating in a tight labour market, we empower them to act quickly with confidence when hiring. The employer experience is enhanced by reduced workplace friction and risk as they are always operating in full compliance with employment laws and polices.
By joining the Credivera Exchange, your recruitment processes will become more efficient. You will automate due diligence and administrative tasks related to verifying a candidate’s credentials in real-time. As a member of the Exchange, you will be able to fully direct your energies on the needs of the client and the professional qualities of candidates.
With our candidate-centric approach, you are empowering your talent pool, allowing them to consolidate and control their credentials in a verified digital wallet. We connect you to candidates in a way that is both sticky and brand building, creating the conditions for positive future working relationships and placements.
We also support good governance. Credivera’s real-time disciplined approach to verifying credentials gives employers full confidence in the quality and qualifications of the candidates you provide. This level of transparency and assurance reduces risk and supports executive-level focus on proper governance practices. This is essential in complex work environments, regulated industries, and public agencies.
In the recruitment industry, speed is a uniquely competitive advantage. As a member of the Credivera Exchange, you can focus on verified candidates upfront with no surprises or wasted effort. Successful candidates can be placed immediately, free from any final hurdles or administrative checks.
We’re ready to assist with your business needs as you face the new challenges the changing digital landscape presents for the recruitment sector.
Learn more about our innovative digital identity and compliance solutions with a one-on-one session, hosted by our product experts. Book your demo today at credivera.com/book-a-demo.