“82% of respondents said that they are hiring staff with blockchain expertise or plan to do so within the next 12 months (verses 73% last year). That number jumps to 89% when considering only the same kinds of companies we confirmed last year.” -Deloitte Report
This Deloitte report from 2020 surveyed participants across the globe with experience in blockchain. The report found that confidence levels and the into the workspace will continue to grow, meaning that more job opportunities will continually materialize at a positive rate over the next 12 months. As the job market becomes more competitive, it implies that blockchain related fields will require previous experience. 2017 sparked the public’s interest in blockchain and has given applicants time to come into job opportunities with experience and knowledge of the market. Human Resources will now have vast talent pools where they can see the development of projects, business techniques, and blockchain experience.
Companies that are hiring:
Looking at how blockchain has changed the world, it is currently making an impact on a variety of different industries. The global blockchain technology market size was valued at 1,590.9 million USD in 2018 and is expected to grow at a CAGR (Compound Annual Growth Rate) of 69.4% from 2019 to 2025. This upward progress can be seen in the above graph, as it shows a steady increase of blockchain usage by several different industries.
The human resource department in blockchain has a limited number of jobs for hire. As jobs are filled and blockchain become more readily available, the positions will further evolve, setting a new standard for what an HR position will be seen as and what an HR job will require from applicants.
"I think [blockchain is] developing," Wester said. "There's still much we don't know about just how it's going to develop. Honestly, that's OK. The disruptive potential of blockchain is that it will completely change the way in which enterprise software is developed and distributed. A little uncertainty is to be expected."- IDC Research Director James Wester
Due to blockchain’s ability to fill all the new opening positions in businesses, Human Resources itself will see a change. For example, the HR department is given the role of overlooking applicant’s resumes, provided this role means being able to identify whether resumes are falsified. However, blockchain technology is able to detect falsified information content on a resume in a more consistent and methodical way than the average person. In 2017, Recruit Technologies and ascribe created a blockchain system to make resume authentication automated, thus meaning that blockchain could be used to authenticate whether or not a resume was truthful.
The future of the human resource role is beginning to be changed due to blockchain itself. Blockchain could be used to modernize hiring by enabling HR professionals to quickly verify the credentials provided by job candidates, existing employees, and companies. Furthermore, predictions have been made that blockchain can prevent third-party companies from providing inaccurate data about candidates. Being able to falsify records or accomplishments on a job application will be virtually impossible if the blockchain is used to fact-check a resumé.
“Imagine having all your employment related details associated with your electronic signature in one block – security access, insurance, payroll, expenses, work performance, employment history, psychometrics etc. The employment contracting process would effectively be redundant. You could work almost immediately, with quick payment.”-Andrew Spencer HRN blog.