According to PwC’s Human Resources Technology global survey, which took into account the views of 600 HR leaders on 6 continents, more and more companies will increase their investments in technology over the course of this year.
Which are the main concerns for HR representatives in 2020? Attracting top talent and keep them, developing everyone to reach their potential and improving people’s work experience, primarily by automating tasks are the top three issues highlighted by PwC’s Human Resources Technology global survey (key findings, here). In order to solve these challenges, 74% of the respondents said they intend to increase the investments in technology and 79% plan to use artificial intelligence for HR processes by 2022.
When it comes to the technologies they plan to use, HR representatives gave the following answers: 49% talent acquisition, 48% improved user experience for employees, 46% skills mapping/career path tools, 45% intelligent recruiting, 45% processes automation and 36% tailor learning journeys. According to the same survey, 82% of the companies struggle with adoption challenges when it comes to the technology in their human capital portfolio. To solve that, they are thinking about incentives and gamification to increase tech adoption rates, as well as strategies of digital upskilling.
Commenting on the survey, Ionuț Sas – Partner, People and Organisation Leader PwC Romania – stated: “The current generation of HR tech has a solution for every point in the employee journey and to monitor every dimension of work, bringing huge benefits. Though, in a true digital transformation, adoption of emerging technologies is just one part. The bigger goal is developing a workforce and culture open to innovation and change. Thus, the real challenge is the adoption of technologies by employees who must be supported in this endeavour with trainings and other incentives.”
HR problem, meet solution: blockchain!
Can blockchain revolutionize the field of recruiting and HR processes? We believe it can! Nowadays, the tech world moves at a fast pace, which means that talent development is a constant concern at innovation hubs around the world. Even though the size of the tech worker shortage is debatable, everyone agrees that such a shortage exists, particularly in specialized skill areas. In many cases, a deep knowledge of the blockchain is not a requirement to get a job. Instead, companies are looking for people with a willingness to learn and genuine interest in the market.
Plenty of people aspire to fill these roles and get a job, but they often lack the education to do so. Many take classes and other skill development opportunities to bulk up their resumes, then try to condense a rather long list of credentials and accomplishments into one readable page.
But these resumes have long been a source of headaches in the tech-recruiting world. The rise of digital job search platforms means that many tech companies who post an opening get flooded with resumes, many of them from unqualified candidates. Hirers must read hundreds of resume PDFs to sort out genuinely qualified people. Contacting references is a tedious yet necessary step for checking that job candidates were truthful on their application.
Blockchain – a great opportunity for HR professionals
Blockchain transaction ledgers could allow a new kind of resume, one that automatically records educational credentials and professional accomplishments. Job seekers could instantly share blockchain resumes with recruiters and hirers, and hirers could use blockchain’s accessible format to filter out candidates lacking specific credentials immediately. Blockchain resumes needn’t stick to one page, and they’re also far more difficult to falsify than credentials on a traditional paper or PDF resume.
“Blockchain is a great opportunity for HR professionals,” thinks Monique Black, Head of Talent and HR services at investment firm Maco.la. She describes blockchain as “a tamper-proof system of record, adding: “Blockchain can be instrumental in making HR processes more effective, whether it’s identifying job candidates or validating credentials.” Young blockchain enthusiasts are open to new ideas in the tech space and ready to learn new concepts. Companies and tech education platforms that smartly integrate crypto components are more likely to attract this pool of innovative workers and learners.