Helmsley Spear, LLC is expanding its collaboration with Hercules; a blockchain supply chain software protocol to include human resources documentation. “Innovation is key to our success,” Helmsley Spear President Kent M. Swig says. “By adopting blockchain technologies, we insure that our company remains at the forefront of today and tomorrow’s transformative technologies so our businesses and clients benefit.”
Other ventures owned and operated by Kent Swig including Swig Equities, Falcon Pacific Construction, LLC, and Fulcrum Equities, LLC, will also use Hercules’s blockchain platform in its Human Resources documentation. “Hercules’s specialist team will provide a blockchain-based Dapp that will enable more efficient human resource functions within several of our businesses to enhance operations,” Helmsley Spear Executive Oliver Swig, who has been spearheading the company’s blockchain implementation, says.
Such a move will insure Helmsley Spear and Swig’s other participating companies will replace inefficient and labor-intensive processes, whilst boosting productivity by automating cumbersome and data sensitive processes like document administration and payroll. Perhaps even more crucial, the use of blockchain can improve fraud prevention and cybersecurity in HR.
“Blockchain technology can impact Human Resources functions such as trustworthy verification of counterparties’ identity without third-party involvement,” Hercules SEZC CEO Anthem Blanchard says. “For example, verifying & assessing the skills and performance of staff can provide HR with trustworthy blockchain-based record of skills, training and workplace performance.”
The Hercules application will help Helmsley Spear with uploading and saving agreements, along with applying blockchain technology to other HR capabilities. According to Oliver Swig, “We’re pushing the envelope to ensure key Human Resources functions, such as compliance auditing, transaction security, contract lifecycles, verification, and referencing are augmented.”