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.

By Mitch Rankin

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

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

Related: Accessing Web 3.0 With a Click: Toolkits for Blockchain Adoption

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.

Related: Why More and More Companies Are Embracing Web 3.0

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

Mitch Rankin

Entrepreneur Leadership Network® Contributor

Co-Founder of Forward Protocol

Mitch Rankin is a tech entrepreneur building open-source, no code, easy-to-use, blockchain toolkit templates for Web 3.0 to allow any company to enter the space without the high capital development costs or needing technical know-how.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

This Gen Zer's Stylish Side Hustle Earns About $20,000 a Month and Paid Off His Parents' $200,000 Debt: 'I Enjoy the Hands-Off Nature'

Ray Cao went from working as a barista for $8 an hour to being a successful seller on online marketplace StockX.

Leadership

3 Major Time Wasters for Leaders — and How to Overcome Them

Here's how you can reclaim your time and maximize your value as a leader.

Business News

Woman Goes Viral After Recording Her Disastrous Call With HR After Being Let Go: 'They Tried to Gaslight You'

Brittany Pietsch posted a nine-minute-long clip of her firing from Cloudflare on TikTok, and it went viral. The company's CEO responded on X — and also went viral.

Business News

Make $177,566 With No Experience in 3 Months: A Popular Online 'Side Hustle' Course Is Under Investigation After Customers Complain About Its Deceptive Claims

"All you need is a phone, a laptop, wi-fi and one to three hours a day," one affiliate marketer said in a video posted to social media.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.