Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Blockchain Technology: The Emerging Human Resources Challenge

Version 1 : Received: 1 May 2021 / Approved: 5 May 2021 / Online: 5 May 2021 (11:33:40 CEST)

How to cite: Michailidis, M.P. Blockchain Technology: The Emerging Human Resources Challenge. Preprints 2021, 2021050035 (doi: 10.20944/preprints202105.0035.v1). Michailidis, M.P. Blockchain Technology: The Emerging Human Resources Challenge. Preprints 2021, 2021050035 (doi: 10.20944/preprints202105.0035.v1).

Abstract

The impact that new technologies have on all aspects of our lives, work, and businesses is significant and growing over time. Blockchain and artificial intelligence, among other innovative technologies, are having a profound effect on practically all business functions, including most human resources (HR) tasks. The HR sector is currently facing a variety of challenges as HR departments invest many hours in vetting candidates' applications and authenticating records to decrease the chances of imperfect recruiting. Nowadays, more technologically based processes are utilised for talent search, selection and management, as well as for accumulating, retaining, and integrating new talents into a company. These HR practices are far more effective compared to traditional methods but can also be more expensive if the transactional costs are considered. This paper consists of two parts. Following an introduction, the first part discusses the trust and confidentiality that can be attained, while the second part examines security, fraud prevention and the productivity gained from using blockchain technology in HR activities. Finally, there is a concluding section, discussing the implications of blockchain technology for firms who choose to employ it.

Subject Areas

Blockchain Technology; Blockchain Trust; Security; Fraud; Human Resource (Hr) Management

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