Scrutinizing thousands of profiles, spending hours trying to match the candidate profiles with that of the respective organisation’s requirement, shortlisting a few amongst them, selecting and hiring a candidate followed by the long and strenuous background verification – Only to find out that it has been a wrong hire! This kind of a nightmarish scenario is way too common in the prevalent hiring process practiced by the HR.
Corporate organisations spend millions to hire the right candidates and retain them. They also end up losing millions on the wrong hires. Surveys have indicated that the amount of money that corporations end up losing each year on wrong hires are humongous, not to mention the lash back that they face in terms of client retention, credibility and decline in employee morale.
Eliminating the never-ending loop of wrong hiring or the cumbersome and time consuming process of hiring candidates in general is practically impossible in the current system that the HR works. This is where the revolutionary Blockchain technology comes to the rescue. The Blockchain technology collects and stores data in encrypted blocks. The data remains secured, cannot be tampered with and offers easy accessibility. Maintaining a shared and secured list of records makes Blockchain technology the most coveted and promising shared database provider of the future.
It was in the year 2013 when Ouna came into existence and became a leader in the marketplace. Ouna aims at streamlining and simplifying the HR hiring process, thus, offering a much-needed solution to the existing hiring issues. Combining the Blockchain technology along with the path-breaking algorithm titled ‘Ounalyzer’, OUNA, which is the fully decentralized anonymous human resource marketplace, offers a seamless peer-to-peer application that automatically makes a check run through its database and matches the ideal candidate profiles with that of the organisation’s requirements.
With the advent of Ounalyzer, HR finally has a reason to cheer & smile. Here’s why:
- Since the matching of the profiles with that of the requirement is done automatically by the algorithm, this eliminates any third-party intervention thereby reducing time, cost and undue hassles.
- The records entered are encrypted and cannot be tampered with hence providing security, uniformity and consistency to the entered data.
- The OUNA algorithm provides a unique assessment solution to a candidate’s profile. With the 15-minute assessment details that the candidate is required to enter, OUNA creates a mathematical profile, and maintains a distinct user profile suiting the needs and requirements of every organisation’s hiring wants.
- It is Decentralized – Big companies can share the database with Ouna without worrying about the privacy of data/loss of data.
- The platform provided by OUNA reduces the time taken by current HR practices in shortlisting candidates. With the data entered by the candidate, the ‘Ounalyzer’ algorithm sorts and selects the best candidates for any given role.
- With the use of Blockchain technology other major HR areas like enrolment, payroll and learning to name a few can also be easily streamlined.
The above listed advantages are just the tip of the iceberg. The possibilities are endless and the rewards are stunningly satisfactory. The Blockchain technology and OUNA are on the path of creation to a revolutionary and path breaking HR management & solutions system. With cloud based computing defining the technology of the future, both the Blockchain technology and OUNA are here to stay and shape the world of the future.
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