PRESS RELEASE: Human Resources Meets Blockchain – Sparks Fly!

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What happens when Human Resources – an important yet under-served wing of a company aces technology? It is quite unimaginable, how people – the most dominant resources of an organization are selected and rejected and how the entire process of recruitment and talent management becomes part of a routine which ignores the important aspects of job matching and description and job fit.

Acquiring a new employee takes a large precious amount of time, shared data, risk, talent sourcing and management between people. With industries becoming sophisticated and thus competitive in every aspect, the requirement of deeply experienced and high-net-worth employees is becoming a must.

Current Issues in Talent Management & Retention

The Talent Management cycle is long and complicated with many moving parts to it. The ultimate aim of the recruitment process is to fit the appropriate person in the right place at the given time. The main challenge is to establish the perfect fit between the job and the individual.

All the aspects of recruitment that were earlier handled manually and even by multiple recruiters can now be taken care of by enterprise-wide HR software. Yet, the entire process of interviewing, employment testing, background checks, and such activities can sometimes be exhausting and the success rate is rather low. There is always a high probability of discrimination equal employment issues for a job applicant that he is fighting against unbeknownst to him/her. Secondly, the issue of the right fit is still looming large. Even after spending so much on recruitment, the global staffing market has a potential market of approximately $643 billion, as identified by the market research group IBISWorld . A large percentage of their people leave their jobs, even after a long recruitment process because of the mismatch of expectations with their jobs or vice-versa.

Enter the Ouna Solution – Ounalyzer

Ouna – the new age blockchain enabled company has developed a proprietary method to assess the motivations of various candidates who register with them and give a detailed mathematical analysis of profile and fit to the companies looking to tap into this pool of talent. Ouna calls it the “Ounalyzer,” which is a “Pyramidal Motivations assessment”. The profiles are recorded anonymously onto the Ouna database and locked into the blockchain enabled smart contracts. Companies, who are clients of Ouna, log into the platform, get the best profile match based only on their skills and locations. The factors which would otherwise affect recruitment decisions such as ethnicity, racial and other demographic factors do not come into play. Thus, Ouna wants to be the HR consultancy which is unbiased in the truest sense of the word.

Advantages to the Candidate

On an average, every job attracts more than a hundred job seekers but only 5-10 can make it through the last round of the recruitment process which is the primary reason for poor job search experience.

The Ounalyzer will help to find the match that suits their competencies and experience. The results will be filtered and matched according to the employee needs. With Ounalyzer, you can reduce the process to 5 days. It can save the organization time, money, and energy.

The candidate can also ensure his strengths and skills are displayed and captured in the form of a “map” with work-related motivations, personality, and work preferences. It helps identify their perfect work environment and areas where they can work on their strengths.

The platform will also work as an advisory to help them negotiate interviews and suggest on upskilling. Assessments can be done in a short duration of 15 minutes.

Advantages to Companies

Companies across the globe can utilize the unique proprietary method to find the best-suited candidates. It is decentralized.

OUNA is the first company to embed its platform with blockchain technology. The OUNA works on a novel algorithm called ‘OUNALYZER.’ The development of Ounalyzer was completed in 2013 after the intense research of 15 years. It was tested in more than 100 real-life case studies to ensure its success and has an 86% success rate of surveyability of the employers at the organization.

The platform enables 7 languages and takes into account multi-cultural sensibilities. The platform has been tested on live cases and Ouna has perfected its algorithm to 86% as the stability of an employee at the organization . It creates almost near perfect employer-employee match.

For companies using this platform helps in drastically reducing the need for intermediaries – headhunters and agents along with the added benefit of reducing the time spent on analyzing a candidate’s motivation.

For more information visit us at Medium

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Sources: https://www.ouna.io/

https://neironix.io/ico-rating/ouna/white-paper

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