In 2017, the recruitment service market size worldwide has reached 417 billions euros. There are more than 169 thousands of human resource agencies, while Eu- rope(40%) and Asia Pacific(25%) is accounted for the majority. The world wide human resource market is growing at a compound annual growth rate of 8%. In the past 3 years, Venture capital investment in the field of human resources and labor management technology providers invested 5.5 billion. Although it has great poten- tial for growth in the market, it is still necessary to see the many problems that human resources have in development and management. And here’ s the analyze:
1. Data privatization led to data duplications.
Currently in the global scope of human resources enterprises are intermediary, plat- form operation.There is a certain competition between human resources agencies, information sharing can not be achieved.Recruiters need to cooperate with different recruitment platforms and pay the corresponding fees; at the same time, job seekers also need to deliver resumes on different platforms, easily lead to data duplication.
2.Job seeker information can not be verified, resume fraud is unverifiable.
Human resources enterprises generally do not have a proper system of fraud warn- ing, can not verify the authenticity of user data. There is a large number of user pro- files are not true, imperfect and so on. The time costs and labor costs incurred during this period will bring losses to recruiters.
3.Personal information is not secure. Easily lead to leakage.
Human resources company is a fully centralized intermediary, personal information can not be completely transparent. And all recruitment platforms in the world have the risk of selling or leaking user information, resulting in easy loss to users.
4.High recruitment costs
Due to the recruitment agencies, HR companies can not achieve the full sharing of information. Recruiters need to publish job listings on different platforms, greatly in- creasing the cost of recruiters.
As a result, many human resources companies are planning to respond to market changes and organizational changes by developing new technologies. Moreover, the combination of blockchain technology and human resources can fundamentally become a new solution to improve the efficiency of organizational forms.The decen- tralized blockchain feature gives the entire network enough flexibility, which will con- nect everyone, including the decentralized transaction, and provides a common technology and a global solution that automates the allocation of physical and human resources.
Why use Blockchain
Blockchain can provide a distributed database chain. This database chain is open and transparent, traceable and can not be tampered with. Unlike ordinary distributed databases, the blockchain has one important attribute: timestamp. The data infor- mation stamped with the time stamp is encapsulated in one of the blocks. Once it is maliciously tampered with, the contents of the subsequent blocks will not be matched. With this feature, the blockchain has great uses in the field of human re- sources. With timestamp, the data will not be tampered with, and will be permanent- ly preserved.