Today blockchain plays a fundamental role in digital currency transactions and financial technology. It performs the most basic function in a more automated environment. Which is why blockchain recruiting is on a high. Do you need help getting the right people for blockchain jobs?
There is no question these past few years have been important for cryptocurrency. If you’ve heard the recent news, Bitcoin’s exchange rate reached an all-time high. And Bitcoin is only one of the many digital currencies circulating today. Ethereum, Litecoin, and Ripple are just to name a few more.
The cryptocurrency market saw a meteoric rise. It garnered so much attention that news about digital currency reached the mainstream. So much of it has been known that even people uninterested with cryptos became, well, interested.
Massive Shift to Digital Currency
Many are still skeptic of digital currency. It cannot be denied there are still plenty of nonbelievers. Most of them would note that Bitcoin and similar cryptocurrencies cannot be trusted. It is an unreliable currency, they say. Some would also deem it a failure, having fallen short of the original plan to use it as an accepted mode of electronic payment.
But while it is not wholly embraced by merchants, digital currency saw significant circulation in Zimbabwe and Venezuela. Singapore and Russia are also looking to integrate cryptocurrency within their respective territories.
Did you know JPMorgan Chase and MasterCard, just to name a few, have also showed interest in blockchain? Other industry giants also started to work with technology startups to develop their own blockchain applications.
Blockchain and digital currency hold a lot of promise in the field of financial technology. This is something tech entrepreneurs should pay attention to. Careful consideration, however, should be made when attempting to enter saturated markets.
Looking Beyond the Digital Currencies
Cryptocurrencies are just the tip of the iceberg. To better understand how this area of financial technology works, let’s look to the most fundamental element—blockchain.
Without the digital ledger system, there is nothing to facilitate the exchange of digital currencies between parties online; most of them are strangers to each other in real life. The right blockchain solutions can support these interactions.
Blockchain Recruiting Challenges
In his book, William Mougayar estimated there were about 5,000 to 20,000 developers working on blockchain applications as of mid-2016. However, this figure pales in comparison to the number of developers dedicated to other projects. At that time, there were already around 9 million Java developers and 18 million software developers in the world.
The sudden surge of blockchain’s popularity triggered a skills shortage. Demand for talented developers far outstrips the supply. As a result, companies find it difficult to find people who can undertake the blockchain-related tasks.
Blockchain recruiting then proved incredibly challenging. The same is true for both tech startups and big industries. After all, blockchain developers were, at some point, developing their skills on what was only their passion. Thus, their scarcity.
Understanding the Blockchain Talents
Blockchain developers are remarkable individuals. They are not like any other IT professional. How unique, you might ask?
First off, their community may be small. But it’s tight-knit and composed of enthusiastic individuals. They undertook the blockchain projects out of passion. These are people who explored blockchain when it was only a fringe-technology; before it became a big-business field of financial technology.
Individually, great blockchain developers are hard to come by. Sure, you can post job ads online, but the strong candidates can be very difficult to get. That’s because blockchain technology was an outsider interest back then. It only started to have some real commercial benefit in recent years. The true blockchain developers are in it for the passion. Looking for work may not be into their peripherals at the moment.
Working with Blockchain Recruiting Teams
How do companies look for candidates for job openings? Do they post ads in newspapers or online job portals? Do they connect with people through LinkedIn?
At a leading recruiting firm, they don’t look to conventional methods of employee search. They may get a couple of people to respond to our job postings. But odds are the great developers won’t be in that batch of candidates.
The true experts in this field won’t be responding to simple blockchain recruiting ads. Because they’re not likely to look at traditional job boards by prospective employers. Probably they are working on multiple projects. Or they probably aren’t actively seeking new work.
To get blockchain developers, the great ones, you need to look for them in their natural habitat. Forget job ads and postings. Recruiters take a direct approach to recruiting by going to them directly. To do this, they need assistance.
If we want to have the best people to create blockchain applications, we let a seasoned blockchain recruiting team help us.
Partnering with a Recruiter
At recruiting firms, they know how crucial is it to have the right people. They also know how difficult it is to get them.
Sub-Contract Agreement with Leading Recruiting Agencies
Typically, a recruiting firm will enter into a sub-contract agreement with qualified blockchain recruiting firms.
1. Recruiting company acquires a client who is looking for a blockchain developer.
2. Client will send the job requirements and other specifications to the recruiting company.
3. The recruiting company will begin the search, discovery, and exploration process for the right talent in partnership with these recruiting agencies worldwide
4. Partner Recruiters can send back top pre-screened candidates per position.
5. For every successful hire, the recruiter concerned will get X% of the amount paid by the client.
Hope this helps!