Blockchain.  Cryptocurrencies. Bitcoin.  Digital Ledgers.  This new world of  digital payment systems is growing exponentially.  New companies are diving into blockchain every day and large established firms are exploring blockchain’s potential for their operations such as  cryptocurrency payment transactions and recruiting.

Learn more about the blockchain system and how to recruit for companies that offer the service. And learn more about how these companies in a new field can quickly scale their companies.

Blockchain – How It Works?

As cryptocurrency transactions are being processed, data is being collected and stored in various computers that are connected to what is called a “peer-to-peer network”, also known as a P2P network. To connect these computers, the Internet is a necessity. The Internet connection allows data to be shared between all the computers connected to the network. The benefit of blockchain systems is they are very secure because they cannot be altered in any shape or form.

Cryptocurrency – What Is It?

Surely you have heard of cryptocurrency, as it has hit the headlines quite often in the past year. This digital currency utilizes blockchain technology to secure transactions between consumers and vendors. While transactions utilizing cryptocurrency is secured through cryptography, they are not connected to any type of financial institution, such as the central bank. This basically means that cryptocurrency transactions are not subject to fees. When consumers make a payment with their credit or debit cards, one or more financial institution will impose fees. Well, blockchain technology allows consumers to avoid these fees.

Blockchain Recruiting – How It Works?

Since cryptocurrencies have been growing in popularity at a very quick rate, blockchain companies are forced to hire more workers. It is always a plus for companies to increase their employee numbers. With that said, some companies struggle to find good, solid job candidates, which is where recruiting can come into play. Job recruitment is a process that is utilized to attract, shortlist and appoint worthy job candidates for permanent and temporary positions.

In 2017, Burning Glass Technologies released a report that showed an increase of 115 percent in job postings related to blockchain. These postings included both nontechnical and technical job positions, including engineers and developers.  So, who is filling those roles?

Struggling to Meet Demand

Some blockchain companies are struggling to fill positions because there is a lack of suitable job candidates. A suitable candidate must possess certain skills to perform the job duties of a blockchain company. These skills include, but are not limited to, cryptography, security, networking, web development and programming language. It’s important to note that not all companies expect job candidates to possess all the skills needed to implement blockchain. However, they do expect them to be willing to develop their existing skills through hard work and dedication. So, even though a candidate does not have an abundance of diverse skills, they still have the potential to get hired on at blockchain companies.

The Impact – Shortage of Blockchain Candidates

All companies must be competitive to survive in the technology industry. Even though the number of blockchain companies is slightly low, new companies are springing up every day. And, when you consider the shortage of fully qualified blockchain candidates and the rising competition, it is no wonder why these companies are turning to third-party recruiters. Recruitment is these professional’s specialty. So, they know exactly what it takes to recruit suitable candidates for blockchain.

Keeping Timelines Short

Like other companies, blockchain services are looking for new ways to expand, while keeping their costs at a minimum. It is undoubtedly true that you may spend more on 3rd party services. Nevertheless, it will come with great benefits. One of the most notable, is the fact that these services are going to save you a significant amount of time in the long run. Wouldn’t you prefer to get everything up and running as quickly as possible? If the answer is yes, hiring a 3rd party is really the best choice you have. It saves your regular sales and operations staff from doing the recruiting, it’s not their main job, and they are probably already working long hours. What if you need more blockchain salespeople? No one can afford to wait months to hire salespeople.

The costs that are incurred will pay off dividends in the long run.  What this basically means is companies could potentially save time by hiring a third-party to recruit suitable blockchain job candidates for them.

Conquering the Unconquerable

By now, it doesn’t matter if you are running a blockchain technology company or not there is a good chance that you have noticed there is a shortage of blockchain skills. There simply aren’t enough employees out there that possess the skills to satisfy the demand of the industry. This is certainly going to be a problem for any company that is looking to venture into a new industry. This is why employers and companies looking to venture into the blockchain industry need to take it upon themselves to learn about the available opportunities. Not only this but just working with blockchain technology could potentially create an even broader range of opportunities for future employees. Pointing this out to young, eager employees could be the enticing factor that you need to get them to learn and study blockchain technology.

In-House Training

For several years now, companies have been strategically building a loyal workforce by promoting from within the company. No one wants to work a dead-end job. This is especially true when there are a few other lucrative opportunities out there and, if technology has done one thing it is just that. It has greatly expanded the job market. Individuals that know computers and how-to program are now more desired and higher paid. This is the same direction that blockchain technology is headed in. Of course, not everyone has the time or money to go back to school, employers can simply do away with the recruiting aspect by offering in-house training.

Of course, this means that the company will need to hire someone experienced in blockchain technology to come in and train the employees, but it would be much easier than bringing on new talent. You will already be dealing with loyal employees that you know are going to show up for workday in and day out.