A world-first smart CV that’s powered by the latest Web3 technologies has been launched to revolutionise an outdated and broken recruiting process with a much-needed modern, fairer, efficient and trusted hiring ecosystem.
The CV Wallet app has been developed to help overcome the challenges associated with traditional hiring, which include data privacy and security breaches and risks, high application drop-out rates, inconsistent referencing and interview bias.
Despite its long-discussed demise, and without any other viable alternative, the CV continues to dominate a hiring process that is unfair, inefficient, costly and untrusted…until now.
Richard Collins, co-founder of CV Wallet, said: “The root of the problem within the recruitment industry is that HR technology and the hiring process are woefully outdated and unfit for purpose in a post-Covid world of work.
“Unbelievably, the traditional CV has barely changed in 400 years, and the recruitment industry has built a hiring process that has become unfair, inefficient and untrusted off the back of it.”
The advent of Web3 technologies has allowed serial HR tech entrepreneurs, Richard and Beverly Collins, who co-founded programmatic job advertising platform, ClickIQ, which sold to Indeed in 2019, to apply this new technology to the traditional CV and launch their free CV Wallet app.
“By using technologies, including blockchain, decentralised wallets, digital identities and verified credentials, it became clear that CV Wallet can significantly improve the entire job seeker experience. It also has the potential to transform the entire hiring process, making it fairer, more efficient and trusted,” Beverly adds.
In addition to creating a better job seeker experience, by moving the CV from the desktop to the mobile, CV Wallet’s use of Web3 technologies will transform the hiring process by making it:
- Fairer – by enabling skills-based hiring. Skills-based hiring is the future of recruitment because it’s about finding people who can do the job, rather than focusing on their background or which school they went to. It’s built around testing and assessments, which reduces bias, improves the size and diversity of the talent pool and increases the likelihood of positive outcomes
- More efficient – no more advertising in the hope that the right people might apply, then rejecting 99% of them. CV Wallet makes it simple to find and directly approach the right people (who can remain anonymous) with the right skills
- Trusted – no more need referencing. The days of not believing what people have written on their CV is coming to an end, as with verified credentials, trust is automatically built-in