Web33 Insight 4 People Leaders ?? ?? ??

June 2024

3 x 3 x 3 Insights on Web3 technology Education + Skills development + HR Innovations and Best practices

Hey, this is Geraldine .

I'm writing this edition from Europe-France. During a political crisis, Paris City officials are setting up the last direction signs for the Olympic Games in the subway.

As economic uncertainty reaches new heights on the European side, the US economy shows signs of improvement in productivity and employee engagement. The latest figures reverse the trend of decreasing GDP and long-term stagnation with renewed growth of US labor productivity in the first quarter of 2024 after decades of decline.

Hope comes from more opportunities for positive change in this uncertain climate that breaks down the wall of inertia. Indeed, throughout history, chaotic environments often spur innovation as individuals and businesses seek more efficient, decentralized, and secure solutions.

According to research, AI doesn’t contribute yet to rising productivity, but rather to a post-pandemic surge in new business creation in the U.S.

Start-ups contribute to productivity growth through innovation and greater competition. I hope this trend continues in Europe soon.

On the Employee Engagement side, employee up-reskilling is the primary driver that helps to boost productivity. This is also the main focus of companies' business transformation plans this year.

Within this context, the 2024 equation is more than ever about resolving the complementarity and equilibrium between AI machines and humans to augment workforce productivity.

--> But how can we upskill people without disturbing the flow of work? And how can we leverage emerging technologies, such as AI or Blockchain, to build a sustainable talent pipeline ready for digital acceleration?

On the bright side of emerging technologies, recent developments and announcements in the crypto world have contributed to moving the needle forward.

1. In the US, the Responsible Financial Innovation Act (RFIA) classifies most digital assets as commodities, meaning crypto can be considered as any other financial asset. ?
2. In Europe, the new Markets in Crypto Assets (MICA) regulation provides a comprehensive regulatory framework for the Crypto Market.?

The results of the compliance efforts are promising, and can ensure the overall legitimization of digital currency and blockchain adoption.

In this big picture, here are my 3 Web3 insights and learnings for the month.

I - ? ?3 learnings in Web3 Technology Education?

1?? ? On Web3 fresh news that matters for everyday investors

On May 23, 2024, the US Securities and Exchange Commission (SEC), the primary regulatory body that oversees security markets in the US, approved the sale of spot Ether Exchange-Traded Funds in the US.

Simply put, investing in the Ethereum currency (the second-largest cryptocurrency by market capitalization) is now possible through authorized portfolio funds.

The authorized portfolio funds can now act as the middlemen for everyday investors who don't have to directly own the cryptocurrency in a digital wallet to store their holdings.

This decision looks promising because it follows the success of the first approval of spot Bitcoins ETF in early 2024, which led to the Bitcoin rise. Still, it should also increase the number of buyers and sellers, creating more liquidity and leading to more stable prices and less volatility.

2?? ? On Tech advocacy (a challenging yet crucial task for startup founders in emerging tech.)

It's interesting to look back on the same fears over and over again in Tech history - to acknowledge that, ultimately, revolutionary tech brings more good than bad.

Blockchain was at the Internet stage 15 years ago, when we feared that the power of the technology would be misused for dark purposes. But what would we do now without the internet in our daily lives?

What is Tech advocacy about?

1. Advocacy involves promoting an opportunity for a second meeting.?
2. Effective advocacy is about influence and doing the groundwork to mitigate risk.
3. At the startup level, to build trust with customers, we need to acknowledge the technology's risks and limitations right away. Avoiding talking about the risks can be ineffective for both parties.?

In Web 3, the main concerns are always privacy or security. For example, the choice of blockchain technology matters—some technologies with a self-sovereign protocol enable one to port data from one wallet to another, but others don't. ?

With what's called a custodial wallet - a third party like a crypto exchange can manage your private keys for you. On the other hand, a non-custodial wallet ensures you are the sole owner of your private key.?

Some technology can allow you to comply with GDPR because you can erase your data anytime. Others don't. You get my point: it's essential to approach all these issues from a corporate responsibility standpoint.

3?? ? Web 3 education- What is the process of skill tokenization about?

Tokenization is the process of granting and recording a right of ownership to a digital asset that can be held, sold, and traded on a blockchain. For example, it may give you access to a product.

In the Talent management world, we can talk about "skill tokenization," which is the idea of reclaiming your skills ownership. For example, if you obtain a recommendation or positive feedback on a specific skill from a customer - you can capture it, save it, and own it.

Later, you can still own your Proof of Recognition ? in your career wallet if you leave your company. This will give you more credibility when applying for your next job.?

As with any personal assets, an individual can consider their skills as tokens for building a career portfolio or a resume. From an organizational perspective, skill tokenization is the final step in identifying, assessing, and recognizing a skill, giving it more value to the individual or organization while increasing talent retention.?

II - ? 3 key Insights on Skills Development?

1?? ? 1 crucial stat to bear in mind

Top-performing CEOs focus 43% more on Talent Development and Retention than other CEOs*.

*Source IBM and Oxford Economics

2?? ? 1 story - 1 tip

I used to write many job descriptions. It's a satisfying intellectual exercise to ensure that the company's goals cascade through the service's missions and then to individual tasks. Except that sometimes, it's disconnected from the reality on the ground.

That's why I found the HBR's Management Tip of the Day, "Assess Your Team before posting that Job Description," issued on June 11, quite relevant. "To avoid skills gaps, it's critical to take the time to understand which capabilities will truly add value to the team and organization."

And they recommend these steps to assess your team while remembering to take into account team members' career aspirations.

The first step remains to align the team's goals with broader organizational goals. Still, instead of starting to craft a new job description, it's better to do a talent assessment process using, for example, 360-degree reviews to understand each team member's capabilities.

3?? ? 1 soft skill - Why Optimism can be the soft skill for success.

"A bit of Optimism" is pure genius. This is Simon Sinek's brand, and the best entrepreneurs must be. The optimism capability consists of imagining a positive vision of the world.

Optimism can help people succeed by seeing the bright side of the situation and expecting good things, which helps to spot and seize opportunities by overcoming our negative biases as humans. But not only.

It also helps to relecture a situation and understand what made it turn out well to reproduce it.

Optimism is also the number one soft skill for conflict resolution, as it creates the energy needed for a positive outcome. From that perspective, optimism is also at the root of resilience.

This might explain why rehearsing positive thinking by revisiting past successes and showing gratitude can drive performance.

Well :) Well-being can definitely start with a little bit of optimism. So, what do you do to become a more optimistic person?

III- ? 3 HR Innovations and Best Practices

1?? ? 1 best practice- Generative AI usage for daily Talent Management

We understand the value and power of AI in augmenting human capabilities at the conceptual level, but what simple applications are accessible to everyday team leaders?

?? The Gallup Global Workplace 2024 report states that 70% of the variance in Team engagement can be attributed to the manager. Suffice it to say that investing in better managers is a core goal of employee upskilling.

So, what is one question you can ask generative AI to help improve your team's performance?

An essential practice for team leaders is understanding their team members' strengths and areas of development.

The question can, therefore, be:

"What are the best strategies for identifying and leveraging the strengths of each team member?"

Give it a try to find the perfect playbook for identifying and leveraging your people's strengths, but remember that self-reporting, observation, or tests are not sufficient to remove cognitive biases.

360-degree feedback mechanisms through peers or customers can provide more data for a more accurate picture of one's performance. Building a fair and inspiring culture starts at the team level.

2?? ? Where does Web3 meet AI in Talent Management?

My answer--> In identifying the current skill gap (AI) and supporting the process through skills assessment (AI), skill recognition, and tokenization (Blockchain/Web 3).

As a Talent Management expert and Web3 entrepreneur, I believe Blockchain can revolutionize skills mapping by enabling a robust verification system via multiple sources. It can also empower individuals to take ownership of their data and skills, ultimately leading to a more accurate and comprehensive representation of their abilities.

In our new AI context, we need to know which team will be augmented - automated - and where new skills will emerge. And we also need to monitor the process of the reskilling efforts.

?? According to research ?? One of the top 5 dimensions that makes a difference for employees to thrive is skills growth. However, an overwhelming majority of 86% of employees report challenges showcasing their work skills.

--->Yes, employers/employees face the same challenge in skills identification from both sides. This is why we are talking more and more about “skill intelligence,” the art of identifying, assessing, and mapping skills.

?? So, how can AI and Web3 complement each other in skills-based organizations?

1. AI = through innovative tools, Big data, and predictive analytics. AI can drive new insights into enterprise skills supply and demand.
2. Web 3 through Blockchain = Emerging trends Increase skill visibility, technical credentialing, increase in manager/peer validation for skills.

3?? ? 1 idea to ponder

The most supportive environment matters for a growth mindset and performance.

Stay tuned for insights on Web3 Technology, Skills Development, and HR Innovations in our upcoming newsletter. Subscribe for more updates, and follow me on LinkedIn.

Let’s learn together!

We’re supporting G4W : ?? Good4work is a Total Talent Recognition software with a mission to harness the power of Web 3 to increase Team/Employee Engagement by recognizing and rewarding talents. It works from where you are, your team communication tool: Microsoft Teams and Slack.

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