1)What problems can the blockchain solve for the human resources industry?
Blockchain can simplify human resource management by providing secure and transparent platforms for companies to manage employees.
2)Why does the human resources industry need blockchain?
The current system of human resource management is complex, costly, and unreliable. Blockchain can make any human resources department more efficient, save companies time, money, and help them get the most from their employees. A distributed digital ledger provides reliable employee authentication for a smooth recruitment process. Digital identities are also owned by the employee as opposed to third parties. Smart (self-executing) contracts also enable easy employee performance evaluation, the automation of routine tasks, dispute resolution, and more.
3)What are the top use cases for blockchain in human resources?
The top uses cases for blockchain in human resources.
- Payroll management: Through the use of smart contracts, triggers can be set so that employees are paid in accordance to the conditions of the employment agreement. This can eliminate human error and the need for complicated and expensive payroll software.
- Job candidate vetting: Storing records on the distributed digital ledger can address common issues employers deal with when vetting job candidates, such as upskilling and providing other inaccurate information. Employes will be able to access to a job candidate’s employment and job performance history, education, and other relevant information.
- Digital record management: Blockchain offers a simple and reliable system for storing employee data, drastically reducing paperwork.
4)What are the top companies using blockchain to disrupt human resources?
Among the top companies that have adopted blockchain solutions for human resources are Bitwage, Peoplewave, OUNA, and Xref.