How blockchain can benefit your business

Everyone is talking about blockchain in recent years. Lots of words can confuse newcomers and the main thing to know for starters is that new technologies are often hard to estimate in terms of usefulness in their early years of adoption. While industry enthusiasts set overwhelming goals for the future, we've gathered a few benefits blockchain can bring your business right away.

Payroll personnel with crypto

Crypto payments are good to go when it comes to the gig economy. Many of your workers may work from different parts of the world and paying them using the traditional banking system may take days and significant fees. Even if all of your staff works at an office, crypto payroll still solves fee and speed issues as well as gives your team some investment instruments.

Smart contracts to manage agreements

Smart contracts are self-executing contracts written and controlled in a computer code. The technology allows to solve transparency, executability, and thus trust issues that often occur between stakeholders. In the case of you and your workers, both sides of the contract will be sure that the cooperation is fair and all parts comply with obligations.

Team performance management

Everyone wants their team to work better and blockchain technology can help to achieve it. Set goals for employees, control time spent on delivery, track efficiency and automatize bonuses/fines using the technology. On the other hand, expect your employees to like this system because it makes their future in your company more predictable and procedures more transparent.

NFT as an HR instrument

Blockchain is also responsible for ever-present NFTs. Non-fungible tokens can be of good use not only for creators but also for rewarding your team or building the corporate culture. Starting from creating a personalized collection to just paying a part of a salary in NFTs, you can upgrade your image, motivate the team, and even boost sales!

Metaverse opportunities

Finally, blockchain technology will be the base of what we now call metaverse. Metaverse makes your HR processes way better, be it personnel training in VR, or metaverse onboarding, and of course substitution of zoom calls with pleasant VR talks.

Bottom line  

We don't know how far blockchain adoption will go, but businesses can use its benefits right now to increase productivity, better team management, and thus higher income. If you think of opting in, the Apollo HR team can implement blockchain in your business processes.