HRO Today June 2018 - 57

HR Technology
BLOCKCHAIN
in
Blockchain is radically changing the world as we know
it. The technology, best known for its role in recording
Bitcoin transactions, is an encrypted digital network of
information that is organized into groups of data called
" blocks " and easily accessed by everyone in a " chain. "
Blockchain provides an effi cient and secure way to store
and share personal data, creating an infrastructure of trust
that will impact personal lives, business, and government
across the globe.
It is expected that this disruptive technology will
specifi cally transform transaction-based industries such as
fi nancial services, supply chain, healthcare, and real estate.
Not only will HR teams need to provide strategic support
to their companies' blockchain endeavors, but HR must
also prepare for the possibility of adopting blockchain
technology into HR processes. For instance, blockchain
is anticipated to augment background screenings by
validating employment records and education credentials,
optimizing effi ciency and ensuring truthfulness of data.
While the emergence of blockchain is exciting and
companies are working to understand how this technology
may disrupt or revolutionize their businesses, the demand
for qualifi ed blockchain talent is exploding amid a
[56]
HRO TODAY MAGAZINE
|
JUNE 2018
The biggest challenge to blockchain
adoption is fi nding highly skilled workers.
By Monique Black
limited global talent pool. In today's labor market, the
greatest roadblock to a company's adoption of blockchain
technology may be the inability to source, attract, hire,
and retain qualifed talent. In fact, soon it may be easier to
hire an astronaut than a blockchain developer!
According to a global freelancing website Upwork, 53
percent of hiring managers surveyed report access to
key skills as the biggest hiring challenge. Job boards
are already inundated with advertisements seeking
blockchain talent for companies ranging from Microsoft
and IBM to smaller start-ups just entering the space.
LinkedIn, for example, has more than 2,200 job postings
where " blockchain " is identifi ed as a keyword in the job
description. Likewise, the job board Indeed hosts almost
1,700 blockchain job advertisements.
With such rapid adoption of this technology in a
relatively short timeframe, it is clear that there is not
enough developed talent to meet the growing demand.
This skilled labor shortage, in turn, is driving candidate
salaries to astronomical fi gures. For example, according
to Forbes, the average salary for a blockchain engineer in
Silicon Valley is $158,000 compared to general software
developers who earn a approximately $105,000, according
Beta

HRO Today June 2018

Table of Contents for the Digital Edition of HRO Today June 2018

HRO Today June 2018 - 1
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