The Evolution of HR in a Blockchain Future.
25 Sep 2019
Today we are going to look at how blockchain technology is going to impact HR and the way we work. Modern Human Resources is continuing to change quickly with the role expanding into different areas as the workplace evolves. HR professionals are no longer simply responsible for hiring, compliance, and assisting with payroll. They are now on the hook for creating robust policies that protect both employees and the employer.
They’re responsible for finding candidates who aren’t just qualified, but are also a good culture fit and will be able to support the overall mission-critical objectives for the business. HR leaders and executives also need to create policies that help grow a business culture that retains employees and increases productivity. All of these objectives require a new way of looking at the HR business and blockchain is poised to disrupt it all.
Let’s look at the areas where it will have the most effect.
· Verifying and assessing the skills, education, and performance of potential candidate while enabling those recruits to be allocated to the most appropriate roles.
· In turn, by giving people a comprehensive, trustworthy blockchain-based record of their education, skills, training and workplace performance.
· The process of compliance and checking data and records made simpler and more streamlined. Since the data in blockchain technology is already accurate and validated, it’s an incredibly useful tool for businesses to use in their compliance and auditing procedures.
· Boosting productivity, with automating and reducing the burden of routine, data-heavy processes like administration and payroll.
· Enhancing fraud prevention and cybersecurity in HR, including both employees and contractors. Blockchain databases could give HR an accurate way to keep records and ensure compliance across the business.
· HR is a business process that has many repetitive tasks and is filled with record keeping and both data processing and storage. Automation software has helped many businesses increase efficiency in processes, but blockchain could be the thing that revolutionizes processes completely.
Another way that blockchain could disrupt or change HR is in how time and attendance are tracked for employees. Some blockchain technology already exists that allows for the storage of bio-metric data like fingerprints that organizations could use to store unique employee identifiers to better track attendance that would increase accuracy in playing wages or claims. HR would have access to real-time records that couldn’t be disputed for accuracy, decreasing pay errors and frustration for both HR and payroll employees.
And this is where VeriDoc Global has a finished solution that shines.
With VeriDoc HR the technology has been applied to tracking and verifying employee start and finish times.
Employees use their personal mobile device with two-factor authentication (2FA) to clock in and clock out so that colleagues can’t clock in on their behalf.
Time and location stamps on the blockchain are immutable, providing a trustworthy audit trail if time-sheet records need to be inspected. Employers are given access to a URL which displays a dynamic QR code for employees to scan. The QR code can also be sent to an employee’s phone for them to scan at job sites or you could create an employee id with their own QR code on it.
Try the technology for yourself and scan the QR code with your phone with any free QR Reader on the employee id in the image above.
Location data is used in addition to timestamps to ensure that employees are clocking-in and clocking-out at the correct location as you will see when you scan the QR code.
Employers save time and money lost each year due to time-sheet fraud and employees have an easy and quick method of clocking on to their time-sheets and seeing a record of all their hours worked which shows transparency on both sides.
VeriDoc HR is a highly versatile software application that can work with any other software. APIs can be used to communicate directly with payroll software which can be implemented swiftly and in a timely manner and speed up the whole process with automation.
To use the software for yourself and try the technology today, contact email@example.com to arrange access and we will gladly show you the advantages VeriDoc HR Solutions can give your business or organization.
As more companies embrace blockchain technology for their everyday tasks and overall strategy, blockchain implementation may be a crucial element of business technology that helps businesses stay competitive and successful and VeriDoc Global is here to help you do just that.