Finding People - A Risk Management View of Hiring

Report 5 reframes hiring as a risk management challenge in today’s volatile labour markets. Employers increasingly rely on outdated proxies—degrees, certifications, and references—that fail to predict job performance, creating inefficiency, bias, and uncertainty. With only 20% of occupations supported by clear competency frameworks, most hiring remains ad hoc, excluding capable candidates and reinforcing inequities.

The solution is a Labour Market Passport: a dynamic, decentralized, open, and harmonized system for verifying competencies, experiences, and credentials. By providing transparent, real-time competency data, this model reduces hiring risks, improves equity, and strengthens productivity across the human capital ecosystem.