How Blockchain Will Improve Performance Management of Your Team

As an employer, you seek opportunities for increasing the performance of your team. You want to know that employees do their best at the workplace, meet deadlines, upskill, and have a strong motivation to bring your business required results for a long period.  

Employees expect to have guarantees of their salary compensation, promotional opportunities, benefits, and sustainable development within your company. Blockchain technology can come in handy to build trustful win-win relations.  

Distributed ledger system (blockchain) allows your company to store and manage data as a chain of blocks, each block containing a record. Also, each block is encrypted and connected with previous blocks in the chain so interference in records of previous blocks is impossible without revealing it.

Using blockchain, you can manage the performance of every single employee in a transparent way for both the company and the employee. The technology makes it possible to set goals for some time, control their efficiency, and time spent on work within records in a separate employee block, and make it predictable, fraudless, and easy to manage. 

When some assignment, goal, or milestone within a block is reached, the appropriate manager or HR-specialist leave needed records in that block. If the results are inappropriate, corresponding feedback is also reflected in the block. Everyone can see all records and the work process becomes less subjective or biased. You can also track the progress and collect feedback from colleagues on the performance of each employee.

The implementation of blockchain paves the way to effective control over team productivity. As the team gains the advantage of the technology due to a predictable roadmap of their career within the company, they won’t feel any discomfort of more precise control.

Apollo HR team can help you implement blockchain technology in your company, create optimal conditions for the performance management of your team, and explain how blockchain can benefit other business processes of your enterprise.