By many accounts, it’s been a rather depressing year for cryptocurrency. The valuations of most major cryptocurrencies are down by about 90 percent of what they were a year ago, with little sign of recovery anytime soon.
However, there is some indication that the blockchain and cryptocurrency industries may be doing much better than what seems to be happening on the surface. Although valuations are up, the number of open positions at blockchain firms is at a record high.
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Need a Job? Check Out the Blockchain Industry
According to an October report by recruiting site Glassdoor, the need for professionals with experience in blockchain technology has grown immensely in the recent past, with a 300 percent rise in open positions yearly–in August of 2017, there were 446 open positions related to the blockchain industry. In August of this year, there were 1775 in the United States. At the time of writing, there were 2800 open positions.
In addition to the fact that the number of open positions in the blockchain technology sphere is continuing to grow, Glassdoor also reported that the average salary for blockchain industry positions averages around $85,000 per year. At the low end, customer support and similar positions bring in around $36,000 per year; developer jobs sit around $200,000 per year.
7/ Top cities for jobs:
1. San Francisco
2. New York
7. Tel Aviv
8. Hong Kong
10. Los Angeles
— Cryptocurrency Jobs (@jobsincrypto) October 25, 2018
Hansen recommends that therefore, HR professionals need to take the long view in order to succeed. Recruiters should establish a hiring strategy that anticipates the kinds of professionals that will be needed throughout a company’s lifecycle.
This strategy should also take into consideration the fact that internal protocols may also need to evolve as a company moves throughout its lifecycle, and that they should include some self-cleaning practices, including regularly scheduled performance reviews and training programs.
And of course, the bottom line of any hiring strategy is clarity. “Regardless of size or scale, every incoming person should feel adequately prepared for their given position and understand the requirements expected of them. This cannot be overstated,” Hansen wrote.
#5: Think Out-of-the-Box to Find Talent
Because it’s difficult to predict exactly which positions will be needed at which stages of a company’s growth, it’s important to think out of the box. This also extends to where companies source their talent–while professionals from other industries may be a safe bet, companies who can establish working relationships with universities and research programs may be the first to onboard top talent that is joining the workforce for the first time.
Hansen writes that IOHK’s partnerships with several tech programs in universities around the world “lets us take our candidate search directly to the classroom, informing students about the promise of blockchain and inspiring them to solve real-world problems in this space.”
The Bottom Line: Planning is Key
In this rapidly expanding industry, recruiting and keeping top talent is a major challenge. In spite of the difficulty, however, HR professionals must remember that no matter how talented an individual may be, their skills can be rendered meaningless if they aren’t a team player.
Indeed, it can be easy to lose sight of what’s important when the scramble to find talent is more frantic than ever. Still, careful planning and proactive thinking can prevent disaster and promote a healthy work culture and a successful company.