<h1 style="text-align: justify; margin-bottom: 11px;">Why Modern Enterprises Should Incline Towards Digital Credentialing?</h1>

Even before the pandemic took hold, the rapid evolution of Digital Technology aka The Fourth Industrial Revolution has resulted in massive changes in the way a business operates, and this must also be attributed to the ever-changing consumer behaviour. A NASSCOM report stated that since the coronavirus outbreak in 2020, technology service providers are witnessing an 80% jump in cloud spending, a 30% growth in digital deals, and a 15% rise in customer experience spending. However, there is a shortage of niche digital skills in the Indian IT sector and this is leading to a war for talent among firms.

The new-age digital skills that are in great demand include emerging technologies such as artificial intelligence (AI), machine learning, big data analytics, cloud computing, cybersecurity, robotics and internet of things (IoT). 

According to McKinsey Global Survey in 2021, 87 per cent of companies admitted that they are facing a serious skill gap in the workplace and the quest is on for finding effective ways to upskill the current workforce to close the widening gap. Meanwhile, multiple factors like work-life balance and virtual collaborations have forced companies to shift from the traditional hour-based, face time workday to a “get the job done” mentality. Dwindling the usual format of work hours, the focus has shifted to results, fulfilling the requirement, follow-through, and effective communication.

This structure is what management consulting firm, McKinsey terms as “distance economy” and not surprisingly, it is causing enterprises to re-think about the soft and hard skills necessary to thrive. To maintain resilience for the future, organizations would also benefit from investing in long-term remote working foundations and adopting an agile approach to strategic workforce planning. 

Also, in the emerging post-pandemic era, companies need to attest that the new hires have the relevant knowledge and skills to get the job done without being micromanaged in the workplace.

Amid this scenario, digital credentials can be a vital ally to start with and going forward. Bringing trust, data, and consistency to skill recognition and human capital decision-making, they can save big bucks for organisations on marketing, recruiting costs, and human resources. This is where credential verification and authentication platforms like Veri Once come in handy. Leveraging Blockchain technology, the state-of-the-art portal empowers students, job seekers, education providers, and employers with transparent document evaluation. It makes sure that the certificates, once verified, can be stored online in an immutable form for further reference, and provides tamper-proof concealment to the existing certification system.

<h1 style="text-align: justify; margin-bottom: 11px;">Bridges the gap between Fresh Graduates and Employment</h1>

Digitally verified credentials can help bridge the gap between freshers and employment by going beyond a traditional transcript that has been a dated process. Instead of extraneous factors, recent graduates will be solely judged by hard data and facts with verified documents in their armoury. This mode of skill-based hiring levels the playing field among candidates and makes it easier for hiring managers to identify skills, eliminate bias and hire efficiently.

Digital credentials provide employees with verified digital badges that detail the skills mastered to earn the credential. These are backed by metadata. When shared on resumes and social media platforms, these badges send clear signals to recruiters -- helping earners find a job or get a promotion.

On a conclusive note, witnessing digital credentials on a resume will trigger employers to quickly cut through the sea of applicants and identify the people who are best qualified for the job. Also, offering the opportunity to earn digital credentials for upskilling, signals commitment and stability to current employees who might be unsettled and unsure after weathering the pandemic.