How Blockchain Could Disrupt Employee Training
Few recent phenomena have attracted as much media attention and investor scrutiny as cryptocurrencies like Bitcoin and blockchain, the vitally important tech that’s driving cryptocurrencies forward while disrupting a myriad of industries. Nonetheless, even amidst the media mayhem surrounding blockchain currently, little thought has been given to how it might disrupt employee training.
So how exactly might blockchain reshape our employee training landscape, and what exactly should today’s investors and company leaders alike to do prepare themselves for its broader acceptance into the mainstream? Brush up on what blockchain is, and how it stands to revolutionize much of the business world as we know it, and you’ll come to see just how seriously it could disrupt current employee training models for the better.
A new way to reward success
All great companies understand the importance of rewarding success, and those which have climbed to the top of the likes of the Fortune 500 list have long since realized that training your employees to succeed by offering extra incentives is the best route to higher share prices. What only the savviest, most tech-minded companies are coming to realize, however, is that blockchain is offering a new way to reward your employee’s success, and could stand to upend everything we know about employee training.
Already, scores of companies are adopting blockchain solutions to meet their existing business dilemmas; so, what exactly is this technology, and how is it different than what’s come before it? To begin with, you should understand that blockchain is essentially a digital ledger that allows a previously unthinkable amount of transactions to occur without the needless interference of any middleman. Blockchain is an extraordinarily democratic technology – it allows almost anyone to make a digital exchange with relative ease, and is currently helping pioneering technologies like cryptocurrencies carve out a share of the market for themselves.
By creating a public record of transactions available to everyone but controlled by no one, blockchain stands to reshape how we train tomorrow’s employees. Blockchain is facilitating the creation of smart contracts, for instance, fostering greater competition for high paying jobs and generally helping information flow freely between companies and prospective employees.
The most important way blockchain could make workplaces go off the rails, however, is likely to be how it reshapes how we reward success. Companies are beginning to view blockchain tech as a fantastic way to ensure employees keep learning outside of the workplace, for instance, and could end up using crypto tokens to offer financial incentives for employees to push themselves to new limits.
Paying for greatness
To disrupt popular models of employee training, blockchain will need to make a serious splash in the corporate world. What many of its detractors, or those entirely unfamiliar with it, don’t realize is that it’s already reshaping how many companies pay for their employee’s greatness; by offering crypto tokens to employees who go above and beyond the call of duty, many companies are starting to realize that they can leverage blockchain to ensure employees stay motivated when it comes to expanding their boundaries and learning new skills.
Becoming an expert in a new, emerging field, for instance, could earn you – the employee in training – tokens that can be spent on digital transactions. Forthcoming ICOs will soon be harnessed by companies to reward those employees who have consistently shown themselves to be more capable than their peers of learning new and complicated subjects, for instance.
As all great company trainers know, incentivization using 7 chakras and their colors is often the most challenging aspect of employee training, and getting your employees to go out of their comfort zones to learn daunting new subjects can seem impossible. By providing a legitimate financial incentive, however, particularly one that caters to the interests of a younger, more tech-savvy generation, companies will soon find it easier than ever before to woo over their employees and get them to train not only on company time, but in their free hours as well.
Recruiting the best talent will become much easier for companies that employ blockchain solutions in their training processes, too, particularly when it comes to companies looking for tech-savvy young workers who will prove vital towards their success in an increasingly digital marketplace. Blockchain’s uses aren’t confined to employee recruitment, retention, and training, however; HR departments everywhere will soon find themselves enlisting the help of blockchain to cut back on cost while optimizing operations, too.
Companies that hope to benefit from ongoing tech disruptions in their industries, rather than suffer from them, should immediately move to consider employing blockchain when it comes to their employee training operations. This exciting digital ledger of the future is rapidly reshaping our business world, and for good reason; with blockchain, a grand training opportunity has appeared, and companies will soon find it easier and more beneficial than ever to push their employees to new limits.
A social media marketing executive and entrepreneur, Alex has led the marketing divisions of some of the UK's leading advertising and PR firms. He specializes in usng the power of big data and business analysis to deliver actionable metrics.
As manager of a large team of digital marketers, Alex is responsible for delivering the training...