According to Venture Beat, the blockchain industry is booming. There has been a 320 percent growth in the number of blockchain jobs offered on hiring sites in the past 12 months, and the current blockchain market capitalization is at $269 billion.
But, as blockchain continues to take off, companies are struggling to keep up on the hiring side, especially when it comes to finding prospective employees with the experience and knowledge of the industry. As a result, Venture Beat recommends that decision makers in this position consider the following three steps:
1. Find the right candidates
When sifting through employee applications, decision makers should take into account their company’s culture and engagement. Venture Beat recommends asking key questions such as: “Does this candidate fully understand the current climate surrounding the blockchain industry, or, perhaps more importantly, do they understand the mission of the company? Do they have any relevant experience in the blockchain industry? And, if not, how has their prior experience prepared them to take on this upcoming role?”
Starting here can take the pressure off of finding the perfect person who has extensive expertise on blockchain. Plus, investing in individuals with an understanding of the company’s mission and interest in blockchain “is a far more achievable metric,” Venture Beat says. “Rejecting candidates simply for their lack of experience could result in losing highly-qualified individuals.”
2. Build a team
As blockchain companies, especially startups, become more settled, new and sometimes unexpected positions are needed. Because of this, it might be a good idea for decision makers to consider implementing policies and ironing out internal protocols to establish where newcomers fit into the company. They should also find ways to include onboarding, performance reviews, and prepare new employees so that they are ready to complete their job: “Regardless of size or scale, every incoming person should feel adequately prepared for their given position and understand the requirements expected of them. This cannot be overstated,” Venture Beat says.
3. Foster a future
While the future of the blockchain industry is foggy, Venture Beat encourages decision makers and companies as a whole to view the changing times as an opportunity to shape the next generation of crypto specialists. Some companies are creating educational opportunities, training courses, and more to reach “an untapped pool of global candidates, as well as to inform and inspire their future relationship with blockchain.” These opportunities, on top of creating an environment that is conducive to long term success, can lead a business down a road to long term success, and “find top talent in a variety of industries to help along the way.”