Blockchain: Is it a hoax?  127

and business partnership is a win–win situation for universities, businesses

and also society.

Employee training programme

Apart from university partnerships to get a pipeline of skilled students,

businesses can establish employee training programmes for existing as

well as new graduates. This will make sure employees adapt to the cul-

ture as well as get trained on upcoming technologies. This is the utmost

approach for capability uplift and also to retain the employees. This is also

the best approach to win the loyalty of the employees and increase their

productivity.

Employee experience

Businesses are finding it difficult to employ experienced employees with

practical experience due to the demand and supply scenario. There is a high

demand for blockchain skilled resources but the supply of these resources

with experience is also lacking.

The solution to this problem is to train existing employees through train-

ing programmes. The use of hackathons, internal specialised engineering

programmes, sponsored external training, degree programmes and execu-

tive education can certainly help as well.

Resource capacity to support

Most businesses still treat information technology (IT) as an expense. In an

event of revenue challenges, the tendency is to cut the IT resources and proj-

ects as a first opportunity. It causes a domino effect whereby the remaining

resources post the cost-cutting still have to support the same business pro-

cess, application and customers. This creates an extensive workload on the

employees with the following impact:

• Long hours of work

• High % of human mistakes

• Impact on work–life balance

• Mental health impact

• Lack of self-learning on upcoming technologies

• Lack of productivity

• Higher turnover of staff

• Lack of innovation

• Higher customer impact through application downtime and complaints