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DApp in Depth: Hire Vibes

Hire Vibes is an EOS dapp whose self-described mission is “to redirect the flow of wealth going to centralised profit-driven recruitment agencies into a river of financial resources for people and the planet.” In a more practical sense, HireVibes is a decentralized hiring platform that uses crowd-sourced recommendations.

The dapp aims to use blockchain technology to disrupt the hiring and recruitment market, which is reportedly growing by 12-20 percent annually; the global staffing market generated $428 billion in 2016 alone.

According to the HireVibes whitepaper, users who get jobs through the platform are paid in cryptocurrency, receive a 5% bonus on top of their regular pay, 1% of which is an automatic, fixed donation to a humanitarian  or environmental cause.

Employers are also slated to receive certain benefits for adopting HireVibes. Using HireVibes is estimated to cost around 50 percent less than what companies would pay for a traditional, centralized recruitment agency; the dapp describes itself as a “one-stop hiring shop where a hirer can advertise for free, crowdsource candidates, manage CV applications, communicate in-app and later; hire and pay securely all from one single platform.”

Employers can also review their prospective employees based on recommendations that exist within the dapp’s ecosystem. Of course, in order for this to be effective, enough people have to be willing to leave the recommendations in the first place.  

Here’s how it works: HireVibes charges the employer 7.5 percent of the total amount of employee’s earnings (so if an employee is earning $100, the employer will be charged $107.50).

After a certain amount of time has passed, 5 percent of that 7.5 percent will be redistributed according to a few factors: if the employee applied directly to the job advertisement, they will receive 4 percent; 1 percent will go to a cause of their choice.  If the employee was hired because of a referral, the employee gets 2 percent, the person who referred the employee gets two percent, and 1 percent goes to a cause of the employee’s choice.

HireVibes is a platform that could stand to significantly benefit both employers and employees–however, even the most impressive ideas need widespread in order to function correctly and successfully. The HireVibes whitepaper outlines a marketing plan in which the HireVibes ‘Recruiter Team’ will be responsible for sharing the platform across social media, upselling to facilitate the hiring process, and sourcing externally (if necessary.)

More information can be found in the network’s whitepaper or on the official website for HireVibes

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