When people say Web3 projects are always hunting for new talents, they aren't exaggerating. The industry has a significant shortfall of skills, and expertise is always in demand.
There are some skills that Web3 projects always want, both technical and non-technical. Here are five of them:
- Understanding Blockchain: Knowing the basics of blockchain is really important. It helps to design and make systems that work well and are secure.
- Knowing Cryptographic Algorithms: Being familiar with the codes that keep transactions and data safe is a must-have skill.
- Being DeFi Smart: Understanding DeFi models, lending platforms, and yield farming can give you an edge in the fast-changing Web3 world.
- Project Management: Handling multiple tasks, coordinating teams, and ensuring projects meet their goals is a must-have non-tech skill for Web3 projects.
- Good Communication: The Web3 world is tech-heavy, but explaining complex ideas to everyone - from tech experts to non-tech investors - is crucial.
Technical proficiencies in Blockchain, Smart Contract Development, and Cryptography
Technical know-how forms the bedrock of the Web3 landscape. Here are a few roles where these skills are particularly relevant:
- Blockchain Developers: Blockchain engineers create, optimise, and architect blockchain systems, driving Web3 projects forward.
- Smart Contract Developers: These wizards write the code that automates transactions on the blockchain, ensuring seamless operation within the ecosystem.
- Cryptographers: These specialists ensure the network's security, protecting it from potential threats and hacks.
Emerging skill sets related to Decentralised Finance (DeFi), Decentralised Governance, and Decentralised Applications (DApps)
As the Web3 world evolves, new skill sets rise to prominence. Acumen in decentralised finance (DeFi), decentralised governance, and decentralised applications (DApps) are increasingly coveted. Here are a few job roles that call for these emerging skills:
- DeFi Analysts: These professionals navigate the complex landscape of DeFi, helping to assess risk and value in this ever-changing field.
- Governance Specialists: They ensure a Web3 project's decentralised governance model runs smoothly, balancing various stakeholder interests.
- DApp Developers: These innovators build applications on a decentralised network, transforming traditional apps into Web3-compatible solutions.
Strategies for Hiring in the Web3 Space
Web3 brings possibilities, but you must approach it strategically for better results. Here's how:
1. Leveraging Web3 communities and networks for talent sourcing
Web3 communities and networks are full of talent waiting to be hired, giving employers access to an untapped global pool to instantly discover top talent and fill specialised roles.
2. Assessing candidates' understanding of Web3 principles and values
The first checkbox a candidate must tick to be a part of Web3 is their understanding of Web3 principles and values. This helps you understand whether candidates align with their brand identity, voice, goals, and ideas.
3. Incorporating blockchain-based assessments and projects into the hiring process
Blockchain-based assessments and projects can provide a transparent and verifiable record of a candidate's skills and achievements. As an HR practitioner, skill verification is one of the most problematic aspects of hiring; seeing a candidate's skills and achievements with blockchain-based tests and projects makes the process straightforward.
Embracing Decentralised Work Models
Decentralised work models offer new opportunities for remote work and the gig economy. Here's a look at the benefits and challenges:
Benefits and Challenges of decentralised work models
While both parties enjoy transparency, flexible working hours, and pay, there are particular challenges to decentralised work models. For example, managing remote teams, ensuring effective communication, and maintaining a strong company culture in a decentralised environment.
Exploring remote work and opportunities in the Web3 space
Talent is abundant worldwide, but accessing this talent outside of major Western conurbations has created challenges and inequalities. Remote work has been around for a while. Still, the emergence of Web3 and the scarcity of skills within it opens up new avenues and reinforces opportunities for companies and candidates to work remotely.
It's a win-win situation where brands can leverage decentralised platforms and smart contracts to hire more efficiently and cost-effectively.
Creating effective workflows and collaboration mechanisms for decentralised teams
As Web3 grows, you must establish effective workflows and collaboration mechanisms for decentralised teams. Leverage Web3 native tools like DeWork and other platforms to ensure smooth communication and collaboration. Also, implement strategies to build a strong team culture in a decentralised environment.
The Future of Web3 Staffing
Web3 is here to stay, and as the world adopts it, the future of hiring is set to transform.
Predictions and trends in Web3 staffing and decentralised hiring
Web3 staffing offers a new paradigm with better transparency, efficiency, and inclusiveness. By leveraging blockchain technology and decentralised platforms, employers can tap into a global talent pool and find the perfect match for their organisations.
Impact of Web3 on traditional staffing agencies and HR Practices
It goes without saying that the automation of HR processes will ultimately lead to the displacement of HR jobs, especially low-skilled ones.
If we go by numbers, according to a McKinsey report, 22% of the workforce, or 53 million jobs across the EU, could be automated by 2030, which will have a significant impact on the HR space.
Opportunities for innovation and disruption in the Talent Acquisition space
As some jobs become redundant due to HR automation, new jobs will be created.
Web3 presents an exciting opportunity to further streamline the global talent acquisition process and bring more innovation and disruption in the space, from new hiring platforms to innovative assessment tools — the possibilities are endless.
As we navigate the uncharted waters of Web3, it's clear that the landscape of HR and staffing is all set for an upgrade. Rather than viewing this as a threat, it's an opportunity for HR professionals to redefine their roles and strategies.
Organisations can create an inclusive environment, stay informed, and leverage new, decentralised platforms to unlock the full potential of web3 staffing.
With Teamed, you can easily onboard talent from anywhere, handle cross-border payments, and manage local tax obligations. Join the web3 revolution and embrace the future of hiring with us!