UNLOCKING HRM POTENTIAL WITH BLOCKCHAIN: SYSTEMATIC LITERATURE REVIEW

Abstract

The world has become interconnected and modernized thanks to various technological innovations, including advancements in human resource management (HRM). With growing demand for HR processes to be secure, efficient and effective, blockchain emerges as a solution to this transformative need. To this end, the paper examines the role of blockchain in improving data security and operational efficiency along with increased transparency in recruitment and payroll process including managing employee records. The decentralized and immutable ledger system of Blockchain provides strong solutions against data privacy concerns as well as making human resource operations smarter using it for background verification and contract management. It shows promise, but is coming with challenges such as scalability, legal compliance and the integration of existing HR systems. Based on a systematic literature review (SLR) of 88 articles sourced from the Scopus database, this study uncovers major gaps and trending factors for HR applications of blockchain. Results show substantial potential for blockchain to disrupt current HR practices but less so in the interplay between worker organisations and public policy. Finally, the article concludes by suggesting areas for further work to facilitate the incorporation of blockchain into human resources and considers directions for realistic implementations leading up to new HR analytic instruments.