$280 million is a lot of money. It can buy a private island in the Bahamas, three Boeing 737-700 planes or a number of Ming Dynasty vases.

 

It is also the amount of money the resources sector wastes each year on basic due diligence associated with hiring activity. This is according to Bright People Technologies, which has provided workforce compliance solutions to some of the world’s largest resources companies for more than 18 years. In that time it has collected information on over 500,000 individuals, more than two million training and induction records and over 1.2 million qualifications.

 

In analysing this data, Bright determined the following:

 

For every 100 people hired, 19 secured alternate employment within 12 months.

 

In other words, the effort and cost to recruit and select personnel are repeated within a year, arguably when most of the information from the initial process is still valid. The direct costs associated with this repetition is conservatively estimated to be $280 million per annum, according to Bright.

 

In response to this information, Bright set out to change its business with the release of a new initiative – the Cited Network. The Cited Network is a place where individuals can convert their historical employment records held by Bright into a pro le which can be searched by organisations seeking employees.

 

An individual can allow an unlimited number of organisations to connect to their profile and in doing so share verified data, availability and personal updates.

 

Bright recently informed hundreds of thousands of individuals their information was available for access, making it one of the largest personal data democratisation projects in Australia.

 

The objectives of the Cited Network are as follows:

 

1. Remove the cost and duplication of effort for the industry by enabling an unlimited number of organisations to have access to the same, verified source of skilled worker profiles.

 

2. Improve transparency for all parties by enabling individuals to see who they have given access to their information and organisations to see verified, trustworthy information.

 

3. Reduce cost to business by allowing the sharing of verified information with an industry at no additional cost.

 

4. Improve fairness and safety by ensuring the people who obtained and paid for training do not lose out to people with fraudulent qualifications.

 

5. Improve data security and reduce the risk of identity fraud by safeguarding sensitive documents.

 

Over 900 organisations nationally have signed up to the Cited Network, with thousands of individuals already sharing information