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Velocity Network: The Future of Background Screening

  • July 11, 2023
  • Zach Daigle
  • Approx. Read Time: 3 Minutes

Did you know 49% of employers surveyed by Cisive cite turnaround time as their biggest background screening challenge?

Today, employers across industries face many hiring roadblocks–specifically when it comes to managing background checks and credentials.  Is there a way to reduce turnaround times and frustrating discrepancies? And maybe even ease your applicants’ privacy concerns in the process?

 

Introducing the Velocity Network…

Velocity Network is a revolutionary way to use Web3/blockchain technology to transform the way you screen candidates and monitor employee credentials.

It’s a decentralized, digital “Internet of Careers” which allows applicants and employees to claim and manage their verifiable career credentials, and then share them with others. In fact, 83% of individuals surveyed by Cisive said they highly desire owning their credentials.

Plus, employers can then rely on trusted, immutable, and verified employee and candidate data, reducing the risks and costs of hiring.

This new approach utilizes Web3 technology ensuring security, privacy, and control for all participants, making it a game-changer in the human resources and recruitment industries.

 

What are the benefits of Velocity Network?

Velocity Network gives recruiters and hiring teams access to verified, reliable data about potential candidates. This not only increases the speed and efficiency of the hiring process but also significantly reduces the risk of costly hiring mistakes.

  • Trusted and Verified Data: With the Velocity Network, employers can rely on trustworthy and verified data for their potential hires. This significantly reduces the risks associated with hiring, as inaccuracies or misrepresentations in the candidate’s credentials are drastically minimized. In fact, 46% of background checks analyzed by ADP resulted in discrepancies in applicants’ employment, educational, and reference checks.
  • Cost and Time Efficiency: The process of verifying candidate data can be time-consuming and expensive. Velocity Network, by automating and streamlining this process using blockchain technology, introduces significant cost and time efficiencies into the hiring process.
  • Data Security and Privacy: Leveraging Web3 technology, the Velocity Network ensures superior data security and privacy. Employers can confidently access and utilize sensitive candidate data without worrying about breaches or unauthorized access.

 

Utilizing blockchain technology, the Velocity Network ensures that the data is secure, tamper-proof, and trustworthy. This means that employers can confidently rely on the information they receive, leading to more informed hiring decisions and a more qualified workforce. Additionally, the Velocity Network promotes transparency and fairness in the hiring process, values that are increasingly important in today’s business environment.

 

Who should use the Velocity Network?

The Velocity Network can be a boon to various industries, particularly those where validation of credentials is crucial.

  1. Healthcare: Hiring in the healthcare industry requires stringent checks to ensure each professional’s qualifications and experience are authentic. The Velocity Network can facilitate quick and reliable verifications, crucial for an industry where time is often of the essence. In fact, one of the nation’s largest health systems has already launched with the Velocity Network through Cisive’s partnership.
  1. Finance: The finance industry requires professionals with a verified skill set and a spotless reputation. The Velocity Network’s immutable data storage ensures that records cannot be tampered with, providing reliable background checks.
  2. Transportation: Transportation companies constantly seek drivers with specific, verified skills. The industry requires license management, and often multiple employment verifications per driver. The Velocity Network can streamline this process, speeding up the time to get drivers in seats.
  3. Education: Schools, colleges, and universities can use this platform to validate the credentials of potential teaching staff. Similarly, students can share their verified academic records with prospective employers.

 

In essence, any industry that values speedy, accurate, and efficient verification of potential employees’ credentials can significantly benefit from the Velocity Network.

 

Want to join Cisive as we revolutionize background screening?

Connect with a Cisive expert today to discover how we can help you become an early adopter of this innovative technology.

 

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