Accelerate Self-Motivated Employee Upskilling With Web 3.0 Rewards
Training and upskilling via a shared and often blockchain-enabled 'ecosystem' should be an integral part of any organization's human resources planning, and adding incentives to the process makes it even more effective.
There is a need for an innovative ecosystem uniquely designed to connect participants in this value-driven economy (including employers with employees, training platforms with experts and colleges and schools with tutors) to promote lifelong learning and skill development. These connections also help organizations improve workforce efficiency and ROI while developing employee skills for future work opportunities.
Connecting and tracking value data
For the tracking of value to be effective, such an ecosystem must help to connect employers and employees across platforms in the workplace, allowing the latter group to learn while simultaneously enjoying rewarding careers. Integrated partners can, for example, refresh their workforce to the latest and best industrial practices using an incentivized model, and new employees can be equipped with job skills needed for today’s most in-demand and well-paying positions.
Major players in a Web 3.0 upskilling ecosystem
1. Online training platforms
- Universities, colleges and schools
- Platforms and applications
- Course and tutor marketplaces
2. Employers, companies, corporations and aid organizations (fulfilling corporate and social responsibility criteria and head-hunting future company employees)
3. Students or other future employees
A scenario of a prospective employee work-learning journey
Say an eligible student is headhunted by a prospective employer and invited to enter its scholarship or internship program, with acceptance dependent upon successful completion of school certification examination. Using a proof of ownership (PoO) smart contract, students accepted into the program will create a user ID profile, which allows them to securely store digital certificates and accreditations throughout their learning journey. This data can be shared as needed with employers while helping students maintain their privacy. Examinations, too, can be written on an integrated platform, allowing future employers to reward successful candidates upon certification, and rewards can be detailed and assured via a Proof of Value Delivered (PovD) smart contract. Blockchain-powered educational documents and tools make resulting record-keeping secure and transparent. A typical reward message might be: “When you pass your exams, you will earn $200”. The employer may even choose to pay for a student's tuition fees as part of the arrangement.
An internship may include a structure such as one year’s tuition or one year of employment. Based on learning outcomes as predetermined by the company and incorporated in the smart contracts, the intern can then be invited to apply for a full-time position. The criteria for both learning outcomes and subsequent employment can be built into a Proof of Value Delivered (PovD) smart contract.
An example of an employment offer built into a smart contract: “If the intern completes their course/certification/diploma and scores an 80% grade on their examination, the intern will receive a $500 reward and a full-time employment offer, with a probationary period of three months starting on…”
Companies integrating this kind of ecosystem and Web 3.0 toolkits into their employee onboarding and training programs can track value across employee careers, maximize potential and minimize wasted training costs. By locking the monetary value of an employee's annual bonus into a smart contract, the company can track the skill value it receives, making each person accountable for their own development, as associated benefits are contingent and predetermined.
Related: Entrepreneurs Should Embrace Web 3.0
Entrepreneur Leadership Network Contributor