Historically Human Resources (HR) departments have relied heavily on administrative tasks to run processes and keep up to date with staffing circumstances so that they may operate successfully.

Although many operations within businesses and organisations are carried out as repeated processes, they often have to be administered in respect of each individual member of staff on a personal basis and therefore can be quite time-consuming processes, especially in much larger companies and organisations where there are hundreds or even thousands of staff registered.

With the implementation of HR blockchain technology together with AI automation, this process could change for the better this is because blockchain can assist with automating processes whilst enhancing how information is stored.

 

Benefits of HR blockchain technology

  • Candidate / Staff data / personal information would be stored securely through water-tight encryption
  • Employee contracts and task requirements / agreements on job roles and / or career progression
  • Background checks is a process that is carried out each time an employee joins an organisation. If this information was available through a centralised HR service, then the time taken to carry out checks could be reduced.
  • CV’s could be centrally stored to represent candidates to their maximum potential, with an opportunity for businesses looking to find the right candidate the freedom to access far more easily.
  • It is foreseen that blockchain is far securer that current IT network platforms, this means that preventing fraud will drastically increase as details cannot be intercepted or copied.
  • Managing holiday and leave, plus how that transpires into wages could make processes easier to administer.

Is your company embracing blockchain technology or looking at ways to improve digital business processes so that your company may operate more seamlessly? At Crendon Insurance we support companies with a technology insurance policy which appropriate to their business.  Whether you are handling data or launching new innovative technology products, we have a technology insurance solution to suit your business.

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