Building Trust with Employers: Why Verifiable Education Credentials Matter

The workforce hiring is evolving quickly and employers are constantly seeking ways to ensure that the candidates they hire are trustworthy, qualified, and equipped to handle the demands of the job. One key aspect of this process is verifying the education background of potential hires. However, traditional methods of education verification have often been slow, inconsistent, and prone to manipulation. This is where Verifiable Credentials come into play, offering a streamlined and trustworthy solution for both employers and education institutes.

The Problem with Traditional Education Verification

The current process of education verification involves the candidate submitting their degree or diploma to the employer, who then hands it over to the background verification (BGV) company. The BGV company attempts to verify education credentials, often relying on local agencies to request information from universities or colleges. Unfortunately, the system is plagued with different challenges:

• Third-Party Involvement: Institutes often outsource verification to third-party agencies, raising privacy and compliance concerns. Sensitive data is handled externally without the candidate’s consent, increasing the risk of data breaches and unauthorized access.
• Fake Certificates: There is a growing market for fake seals and signatures, making it difficult for employers to trust the documents they receive. 
• Revenue Leakages: Education institutes miss out on the potential revenue from official verifications due to the prevalence of unofficial processes.
• Compliance Issues: Employers and institutes can face compliance risks when relying on unofficial verification processes.

The Solution: Verifiable Credentials

eLockr provides a modern solution to these challenges through digitalization and instant issuance of education credentials through its powerful Verifiable Credentials (VCs). By issuing verifiable temper-proof credentials to all alumni, education institutes can ensure that their alumni records are accurate, secure and accessible.

Key Features of Verifiable Credentials

Here are some of the key features of verifiable credentials:

• Instant Verification: Employers can instantly verify education credentials without relying on third-party agencies or outdated processes. 
• Electronic Consent: Ex-students can maintain control over their credentials by providing electronic consent each time their credential is verified.
• Tamper-Proof Credentials: These credentials are secure and cannot be altered or falsified, ensuring authenticity for employers and peace of mind for alumni.
• Notifications for Alumni: Alumni receive notification each time their credentials are verified, keeping them informed and engaged.

Read Also: Education Credentials for Instant Verification

 Benefits for Educational Institutions

Here are some of the key benefits of verifiable credentials for educational institutions:

• Avoid Compliance Risks: By adopting a verifiable credential system, institutes can mitigate the risk of being implicated in unofficial verification processes.
• Revenue Opportunities: Institutes can charge a fee for alumni verification, creating a revenue stream while ensuring authenticity.
• Visibility to Alumni Career Path: Institutes gain valuable insights into the career progression of their alumni, enabling them to track and support their graduates over time. 

Why Verifiable Credentials Matter for Employers

Employers face a growing need to ensure that the candidates they hire are genuinely qualified for the roles they are applying for. Verifiable credentials offer several key advantages:

• Trust and Security: Verifiable credentials eliminate the risk of hiring someone based on falsified or inaccurate education records.
• Efficiency: Instant verification speeds up the hiring process, allowing employers to make quicker, more informed decisions.
• Compliance: Employers can rest assured that they are complying with industry regulations by relying on verified, authentic credentials.

The Future of Verifiable Credentials

As more of academia and universities adopt digital verification systems, the use of verifiable credentials is set to expand beyond education. eLockr already supports ex-employment credentials with over 2 million credentials issued on the platform that have benefitted more than 20,000 organizations.

Conclusion

The importance of trust in the hiring process cannot be overstated. Verifiable credentials offer a reliable, secure and efficient solution to the challenges faced by both employers and education institutes. By adopting this innovative approach, institutes can enhance their reputation, prevent revenue leakages, and provide their alumni with a valuable platform for the future. Employers, on the other hand, can enjoy peace of mind, knowing that the candidates they hire have genuine qualifications backed by secure, tamper-proof credentials that are instantly verifiable.