A recent study by Checkster shows 78% of applicants misrepresent their qualifications. There are several reasons resumes don't tell the whole truth. To start, people want to make themselves look a little better. Or, they haven’t renewed their latest certification or maybe they don’t know when it expired. Regardless of the reasons, the consequences of these misrepresentations are costly and risky to employers. If you have an unqualified workforce, you may face liability if something happens on your watch. Enough gloom, let's discuss the hero in this story, verified digital credentials. This technology is helping businesses improve operational efficiency and the safety of their workplaces.
Verified digital credentials are confirmed representations of a person's skills and abilities. They also provide an audit-friendly record of when and where they accomplished it.
With digital credentials, you can verify knowledge, skills, and competence faster from anywhere. Our verifiable credentials follow globally recognized standards, which eases transparency and interoperability, so regardless of where training was received or where someone is now working, its status is confirmed.Verified digital credentials save your business money on recruiting and talent management expenses. The estimated cost of a bad or unqualified hire is somewhere between 1.5 to 3.5 times their annual salary or up to 27 weeks of an organization’s time. All of which impacts your financial bottom line.
Private credentials contain the most sensitive information about your workers. They could include information about personal and health information such as drug and alcohol testing, COVID-19 results, and any other information. The content of this credential is only accessible to authorized persons such as a single HR director. We understand the need for privacy. At Credivera, our technology empowers workers to share and revoke access to their own personal data as their employment changes with the organization.
Digital credentials ensure transparency and trustworthiness since they are traceable and verified by the organization that issued them. The difference between a digital credential being classified as verifiable versus a verified credential is that it can be transferred and accepted using a globally accepted standard. The benefit? The credentials earned in another country or held in another digital wallet can be transported and shared at the individual’s discretion to another employer. Read more about how Canada and Europe are working to support this inter-operability of workplace certifications and credentials for a globally accessible workforce.
The industries or people that benefit from their use include:
As an employer, verified digital credentials provide an added layer of confidence when managing the authenticity of documented skills and certifications for your workforce. Employers that adopt digital credentials for workforce planning, to capture learning and development achievements, and employability engage workers to stay longer and with an improved experience of your organization. This supports your company to stay agile, leverage your entire talent pool and avoid outsourcing when the skills you need are verified to be in-house.
In an age of stale data, it is crucial to verify all claims of good standing with an association. With digital credentials, your members can prove their affiliation, learning, and professional achievements with a verified record. Your association's credibility improves and gains the trust of employers as members share their verified status with them and share it on social media. Notifications and simplified management of renewals can help optimize revenue and support member engagement. Find out how easy it is for your association to issue credentials and support member employability.
As an Issuer, your programs will have a more significant impact with digital credentials. Verified credentials enhance your reputation as your certifications are fraud-proof, alert customers for renewal, and maximize exposure to your target audience within the application as workers look for verified providers to renew with. Here is a recent situation where issuing verified credentials that are tamper-resistant protects an entire industry of workers and businesses.
The immediate benefits of verified digital credentials include:
Organizations can confirm employees’ certifications through a single source of truth for the business including consolidating information from HR, safety, and operational systems. Managers are informed of any immediate needs for training and remove future risks from the workplace. The result is efficiency, safety, and profitability when work is able to continue without lapses due to unexpected expiries of certifications.
Recruitment is stressful for both candidates and recruiters. A recruitment agency such as Recruitment Partners Inc. noted that verified digital credentials support the accountability to their client to validate the skills of a candidate they are placing. They noted that one-third of resumes have mistruths, and simplifying the verification process whether an in-house HR leader or external placement agency saves time, money, and increases confidence in the hire.
Verified digital credentials improve the reliability of an external hire with a Digital Wallet that contains all of the candidate's recognized certifications directly approved by the training and education provider. HR teams are able to see if they can repurpose internal talent for new roles and responsibilities by sorting the organization based on specific credential requirements.Moreover, it eliminates the time and need to request paper credentials, degrees, and certificates from a registrar, association, or issuing body as the hiring manager can easily see the claims are valid and current. For agencies, credentials are shareable to an employer verifying they are about to hire the right candidate for the job. Organizations can reduce risks and liability in the long run by deploying the right talent to the right jobs.
A corporate training and development program supported by digital credentials will improve productivity and reduce turnover. The Human Resources Professional Association shares that to avoid the Great Resignation of 2021, make training programs and resources widely available in your organization. Recognition at work boosts employee engagement, culture, and supports retention as they claim and share their accomplishments to their own professional communities and on social media.
If you are wondering if your organization is ready to integrate technology to manage employee identity and privacy associated with their workplace certifications ask yourself:
If so, with the help of real-time verified credentials, senior executives and managers can reduce risk by seeing that each individual and location is meeting the necessary requirements in mere seconds. Credivera offers a digital identity platform with visual dashboards and secure reporting using blockchain that makes it easy to read, sort, and know if your team follows the site requirements. Interested in learning more? Reach out to one of our team members for a quick consult.
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