Business

How blockchain impacts HR management

Wyser, a multinational company belonging to the Gi group which offers “Executive Search & Selection” and “Assessment & Cultural Transformation” solutions, organized a Masterclass on the impact of Blockchain and its application in talent management and human resources .

With the help of more than 50 people, the lecture, given by blockchain expert Antonio Rodrguez Furones, touched on basic concepts of technology, through its value as a business tool to affect the different applications that she may have in the area of ​​Human Resources.

We assume that Blockchain is much more than a cryptocurrency, seeing itself as a distributed network that facilitates the storage of valuable information by registering it in different nodes that prevent malicious access, making it a methodology highly secure. Its main advantages are that it is an immutable, distributed, non-attackable, programmable and universal technology.

One of the most interesting applications of Blockchain is Smart Contracts, which facilitate, secure, enforce and guarantee the execution of registered agreements between two or more parties.

With the arrival of the pandemic, Blockchain processes have accelerated, and its effectiveness has been proven in different fields and projects; because it is a very transversal technology which is very useful in all sectors. This adaptability was decisive in this stage that we had to undergo.

Likewise, Blockchain is helping to redefine business models and processes, and that’s where HR comes in, because to change processes you have to reach out to people and their work.

In this sense, Blockchain technology makes it possible to simplify processes, avoiding intermediation, since it provides a “security” and “guarantee” value that intermediaries have traditionally provided.

As a result of this simplification, by reducing intermediaries, costs and delays are reduced, which is very interesting. But despite all these advantages, Blockchain technology has certain weaknesses such as those related to technological capabilities, its high energy cost, the risk of bifurcation in public blockchains, certain limits related to the legal framework and resistance to change both internally and externally.

Despite the fact that, according to Gartner, there are still a few years for Blockchain to be considered a fully mature technology, its implementation has already been shown to have a positive impact on the Human Resources sector, as with the ‘Digital Identity, much more secure and powerful than a digital certificate, which allows us to register all our securities thanks to Blockchain technology; in order to simplify the training verification process.

Likewise, it is very useful for assistance management, since all the information that is loaded into the Blockchain remains unchanged and cannot be manipulated or falsified; which becomes fundamental in a process, taking into account what is written therein, a proof constituted with notarial value.

In addition to the ease of speeding up the verification of our training courses, Blockchain technology is also very useful for data protection, the selection and identification of profiles or the management of payroll, hours and leave.

In short, Blockchain is a technology that can and will change things, but for that we have to change the processes, where people intervene.

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