When it comes to running a business, a key factor one must consider are employees. When employees are content, they are more likely to increase their productivity levels and hence, bringing profits to a company. Many of those that went bankrupt have failed to look into real-life concerns that might be faced by the HR department. This is where Peoplewave comes into play.
The notion of Peoplewave stemmed from the idea that people matter in any business. Some of the problems that will be the focus of Peoplewave, in as little as three years' time, include on boarding new employees, lowering turnover, performance reviews and better management skills. How does the team plan to execute such goals and what can consumers expect in return? Here is a complete analysis of Peoplewave, with respect to their purpose, architecture, the team and to-kens.
What Is Peoplewave?
Peoplewave was created with the intent of providing HR leaders and employers with better means of hiring people (i.e. background checks, on boarding, performance, etc.) and attaining work fairness. Ultimately, they believe that Peoplewave can potentially change the face of HR to one that focuses solely on the people by introducing blockchain technology. While the goals are attractive and very relatable to a real-life context, the way in which of Peoplewave attains them is important to consider.
How Peoplewave Wavebase Blockchain Recruitment Works
In general, an architecture gives an idea as to how a company is going about solving a problem. Peoplewave’s supposed solution is to come up with a blockchain solution called the Wavebase. By doing so, the team believes that biases, inaccurate opinions and overall uncertainty about a potential employee can be eliminated at once. Introducing blockchain can also help to secure any type of information from being leaked.
In terms of using Wavebase, several steps must be taken. First, an employee must create a Wave-base account and share their key with their employer. The key allows an employer to add performance data regarding that employee. In other words, as opposed to simply taking into consideration what the potential employee has to say, the employer will also have access to his or her former employer’s statements of that individual’s performance. For the potential employer to have access to such information, the employee must also share their key with them.
The team predicts that within two years into the project, a Wavebase API will be open to external partners including job portals and performance-assessing firms. The posting of information will be done in the Ethereum Blockchain for the time being, as no information has been provided as to whether or not Peoplewave will be establishing their very own blockchain. To ensure that in-formation does not land in the wrong hands, the transfer of information between Peoplewave API and Ethereum Blockchain will be secured using the SHA-3 cryptographic, which will also be followed by additional security measures.
Who Is Behind Peoplewave?
The Peoplewave team consists of 19 team members within four countries. Damien Cummings is the founder and CEO of Peoplewave. He has gained over 20 years of experience in marketing and digital transformation and has made a name for himself with the several awards he has obtained. Phil Aldridge is the co-founder and CTO of Peoplewave and has managed complex technological environments for over 25 years. Other experienced team members include Micky Lin (VP, Marketing), Yeng Was Leong (VP, Product Management) and Stephen Walker (VP, Inter-national).
The team is significantly large, but it makes sense as they represent Peoplewave globally. In addition to the several distinctive roles each member takes on, the board of advisors are worth mentioning here. For starters, Peoplewave has strategists and human resource heads as advisors. This indicates that their keen interest in solving inaccuracy and bias during the hiring process is some-thing they strongly believe in.
All-in-all, the main team consists of those who have direct influence on PWV technologically, while the advisors have more say on what they have experienced in their fields, and how that can help to reshape HR.
Peoplewave PWV Token ICO Details
The Peoplewave Token, which will be denoted as PWV, will be available via ICO for purchase. With a total of 1.2 billion tokens in supply, 42 per cent will be given away in the ICO for a total of 0.05USD per piece.
The initial investments are said to be used to develop the Wavebase ecosystem. The token appears to be practical as organizations might be rewarded for uploading employee data, a fee will be applied for looking into such information and this can be done using PWV, individuals can earn PWV for allowing their information to be used for research purposes and more.
Peoplewave Final Thoughts
Overall, the idea of eliminating potential employees from giving false information about their job experiences or any illegal affairs is important to address, as it may negatively impact a company’s objective. Having Wavebase as a solution is innovative, as potential employers can get access to several types of information including job title, duration, salary, hard skills, suitability, manager score and rank position to name the least. This can improve the hiring process, as HR no longer needs to call references to verify, as simply accessing the employee’s key suffices.
The greatest concern that one might have is whether the employer updating one’s file is being truthful or not. While the white paper suggests that performance information will be updated, the way in which factors like likability and suitability will be assessed is yet to be disclosed. For more information, go to: peoplewaveico.io/