The rise of the blockchain in HR processes

The blockchain is a distributed and reputedly tamper-proof registry system in which all transactions between its users are recorded. Exchanges are carried out without a central control body. The two entities involved in a transaction (people or organisations) are represented by digital keys. In the HR processes optimisation, the blockchain will take on an increasingly important role. 

Successive transactions are grouped in blocks and validated by the network itself according to a protocol that depends on the type of blockchain. In a context where 97% of the HR managers consulted by Markess by exægis highlight the importance of ensuring the confidentiality of the company’s employees’ data, the alliance between the blockchain and the HR processes become very interesting. 

The blockchain benefits 

The blockchain also helps to create a business model that is less hierarchical and more cross-functional. In other words, a system in which would optimize cross-functional collaboration by promoting and accelerating data sharing. This approach aims to optimize the employee’s involvement in the company and to develop his or her sense of belonging to the organisation. While only 6% of respondents plan to invest in this technology in 2017, 47% consider it useful or even essential in 2020.

The blockchain could even optimize the recruitment process, which has already been profoundly modernized by digital technology during confinement. This technology will enable to check candidate data more efficiently by cross-checking the sources of different servers.

The blockchain and the electronic signature 

The use of electronic signatures has spread with the pandemic. This technology is one more example of the benefits of the blockchain. As a result of this union, we obtain less expensive and restrictive possibilities compared to traditional technologies.

Among other things, the electronic signature makes it possible to speed up certain processes by facilitating the signing of certain documents (the balance all counts in the off-boarding process, for example). Scanning or timestamping of documents such as invoices is optimized by the use of the blockchain.