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Blockchain in Human Resource

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Blockchain is an immutable hyperledger technology. It records all the transaction to a private or public blockchain network. If human resource starts to accept widely this technology, it will surely alter the way how information and data processing are handled between employees and employer. – PowerPoint PPT presentation

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Title: Blockchain in Human Resource


1
Blockchain in Human Resource
blockchainexpert.uk
2
  • INTRODUCTION

Upcoming trends start to show significant impact
in the field of HR also. Blockchain has a wide
scope in HR management, especially in maintaining
a proper record. This is one of the major issues
in HR management. Migrating to the best
blockchain can solve this hurdle to a greater
extent. HR resource holds large data in relation
to the employee and the employer.
3
  • How blockchain can Help HR?
  • Blockchain is an immutable hyperledger
    technology. It records all the transaction to a
    private or public blockchain network. If human
    resource starts to accept widely this technology,
    it will surely alter the way how information and
    data processing are handled between employees and
    employer. HR management is something that is
    related to as a private thing for a company.
    Keeping this on a public blockchain network wont
    be safe enough. But it's considered to be safe
    when the data is in private network and also keep
    permission-based access that can let the data
    from accessing unauthorized person also.

4
Some major ways in which blockchain can affect
the Human Resource process Blockchain data
management Keeping and maintaining employee
records is very difficult. Chance of data getting
lost is higher. Blockchain thus helps in
maintaining and managing data effectively and
efficiently. If we add data to the blockchain it
turns immutable, meaning one cant alter the
content anymore. Keeping the data and proving the
data to an authorized person can help in
upholding the safety of records. When the data
are stored under private blockchain, it assured
that there is no access even from outside.
5
2. Blockchain Verified Resumes and
Certificates Blockchain verified documents like
resumes will help the HR department in seamless
handling of applicant data. The hiring
proceedings are turned simpler and easier under
the blockchain. Blockchain document verification
will help to prove the authenticity of the
submitted documents like resumes and
certificates. One advantage over the current
method is that through the blockchain platform,
the organization would be able to instantaneously
authenticate resume and other background
information, that is already transformed into the
distributed ledger. Blockchain verification
technology is already available in the
market. Another most important use case of
blockchain is issuing the company certificates
into the blockchain. Suppose one employee is
leaving the current position or job and he is in
need of his experience certificate from the
current employer. Here, the employer can issue a
blockchain verified experience certificate that
employees can use from anywhere at any point of
time, despite any cross border challenge.
Blockchain document verification can be instantly
conducted.
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3. Use of Smart Contracts Smart contracts are
computed programs that help to maintain and
provide access to blockchain related data. For
example, consider maintaining employee work
record or performance record. These records are
very helpful in the future. Smart contracts are
computer programs that are built to control all
the transaction between parties in the
blockchain. They are much similar to those of
standard contracts. Via blockchain technology,
the entire HR processes can be automated. Think
about a smart contract which automatically
distributes wages instantly with no risk of delay
or fraud. 4. Secure Cross Border
Transaction. Securing payment across the globe
has now become so simple via using cryptocurrency
and new blockchain technology. Normally
international payroll demands two or three
intermediaries which are very time-consuming. By
using the blockchain technology in human
resource, the future of cyber securities is
changing to its best state, where every data and
transactions are secured through cryptography
which makes it hard to tamper the data.
7
5. Auditing and Compliance Another main use case
related to auditing of data is- records of the
transaction are easily traceable and it is very
easy for auditing. Around 52 of companies
around the world already started implementing the
blockchain technology to their life-cycle. 6.
Attendance Keeping Now it is easy to store
securely the employee details like biometric data
such as iris scan or fingerprint. The
organization can easily track this data and can
have unique data to track employee attendance and
expenses that can be claimed. HR have a correct
vision to the real-time data and it would easily
remove disputes since the data records are
accurate, will help in strengthening the trust
element in payment authorization. Lastly, it
would decrease fraud and error caused by the
payroll and HR departments.
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In short Blockchain in HR has a wide scope of
possibilities right from document verification to
easy accessing of documents, secondly proving the
authenticity of documents to eliminating the
possibility of any future threats say tampering
or misplacing of data. Blockchain in HR can help
business organizations in setting up a strong,
confidential employee database with no malice or
fraud. In further, the blockchain in human
resource automates the entire proceedings keeping
the workflow simpler and less complicated.
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Click here to read more about Blockchain
in Human Resource
10
Thank You !
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