By | Kevin Moore SWP | Director Workforce Analytics at AON
Why did I choose to write about NFTs?
Last year an Executive Recruiter sent me a position for a leader of Organizational Effectiveness. This position would manage multiple teams, one of them being People Analytics. Inside the description read something curious I have never seen before “Optimize workforce planning, insights and strategy through the introduction of innovation (i.e. AI, Blockchain, etc).” I thought about the main vendors involved in Workforce Planning – Anaplan, SuccessFactors, Workday, Oracle, and Visier. None of these vendors are using Blockchain for any Workforce Planning applications. I wrote back to the Recruiter asking why Blockchain was in the posting as I had never heard or seen of Blockchain being used in a Workforce Planning software. The Executive Recruiter stated “that’s exactly the point, the Hiring Manager wants people that can invent things that don’t even exist yet.” Translation-we aren’t sure what we want but we love cool buzz words!
Fast forward to today and I am watching Non-Fungible Tokens (NFTs) start to gain traction which is occurring on the Ethereum Blockchain. I’m also seeing more articles and videos about Blockchain general uses in HR. Since I’m not an expert in the NFT or Blockchain I will provide information below from Gary V (a famous tech entrepreneur) and Andrew Spence (an HR Futurist). In addition, I will share detail on whether or not People Analytics NFTs exist and how People Analytics practitioners could use NFTs in the future.
What are NFTs? (From Gary V)
NFTs are best understood as unique digital assets, and they exist in a variety of industries from digital art and virtual real estate to collectibles, gaming and more. Basically, any type of media can be minted or tokenized and turned into an NFT: art, trading cards, memes, gifs, video clips, audio clips, tweets, this article — anything. Once tokenized, these assets can be bought, sold and traded using cryptocurrency.