Blockchain became popular due to cryptocurrencies, especially Bitcoin. But it can be applied not only in finance. Blockchain can check and automate information stream and is a great system of database storage. That means it can change many business areas, especially HR. Everything will become much easier: job search, employment, career planning and taxes calculations, team building and psychological climate control, new department building based on compatibility of future colleagues e.t.c.
CV created on its own
Blokchain will easily compete with traditional job search engines and headhunters' bases. You will no longer have to write a new CV for each vacancy and add lines about the new experience after each job completed. The whole history of your career successes will be simply recorded in blockchain.
Let’s agree, only this alone can completely transform the way of finding a new job or candidates invitations by the company. HR departments will not have to check everything. Nobody will have to ask an applicant to provide references, information about previous jobs, copies of diplomas and other endless details.
A transaction of a chain of blocks can even store information about the contract termination reason and achievements of an employee. So, interviews will not be needed either. You just go online, enter the name of the potential employee, get information about him, analyze it, make conclusions and take a decision.
It will be almost impossible to hide any unpleasant details. However, dear applicants, do not get upset too fast, blockchain works in both directions. That means that employers will also have to monitor whether their employees are satisfied and fulfill all the promises.
Do you think the future described above will not come soon? Then let us intrudoce you: Evolution blockchain platform, created for solving HR problems. The platform has a special "currency", the confidence index. It consists of two parts: assessments of former colleagues and employers and the activity of the user by himself. This index can really replace any CV.
Taxes calculate themselves
No one likes write-offs, estimations and income taxes. It is hardly to find today any country where employees and employers are free from this headache. And by all this we mean a kind of ordinary stable everyday work.
And now try to imagine. You work for australian company and have an hourly rate of about $20 per hour. But suddenly you got an incredible inspiration and have created something special which was estimated by your employer for $100 per hour. Do you know, that australian tax system will right away calculate such income tax, as if you always work for $100 per hour. You can get adjustment one year later but who will be happy about that?
Let's conduct one more experiment just to make it clear. Right now, close your eyes and remember what amounts and for what you were getting, and what you bought this year, how much you bought and where are all the checks for the purchased goods. Do you have any problems with it? It’s much worse when it comes to file a tax return. Of course you have to monitor your own incomes and expenses, but for sure you want to delegate this to someone reliable and incorruptible.
Well, soon this desire will come true, since the blockchain system is a fair and accountable system, where nothing can get lost or tangled. It can track the income of each employee, automate the calculation of taxes in a real time mode, take into account company's incomes and expenses, calculate vacation pay checks, sick leaves and other trifles that are difficult to retain in human memory.
Tedious work is done by itself
Everything will become more effective, starting from from reporting to payroll. Moreover as it is well-known this technology allows to instantly and safely make money transfers anywhere across the world without using a bank as an intermediary and without additional taxes and fees applicable. And of course, any company can only profit from it.
But the most pleasing opportunity for employers is a fantastic opportunity to save human resources, that is one of the most expensive resources. Just add to the blockchain the technology of smart contracts which can automatically fulfill pre-defined conditions. For example, smart contracts can calculate the number of hours spent by each employee and compare them with wages. Both for the employee and for the employer it will be easier to provide supervision over the activities and nobody will have to prove and re-verify anything. In fact, the work of numerous supervisors, timekeepers and accountants can be completely covered by smart contracts.
Blockchain is not like CRM because it creates fundamentally new conditions and opportunities, while CRM is simply an improved version of already existing algorithms. Now employees and employers have to spend a lot of time on it and there also many manual actions they have to perform so it becomes very easy to make a mistake while using such programs. Blockchain will allow to automate processes without the need to re-check employee or employer.
Blockchain is easier. Blockchain is cheaper. Blockchain can be tailored to specific tasks and needs and automate processes so that they do not need to be reconsidered once again. Blockchain is able to simplify the implementation of tasks for both accountants calculating taxes, and for ordinary employees. That is why it’s just a matter of time that blockchain will be used in HR.