Crypto Transforming the Future of Payroll

Welcome to another edition of the New Bridge. Here, I will break down the future of work topics that matter, open your mind to use cases, and keep you ahead of the curve.

My #1 goal is to be helpful, so please send me an email if you have any questions or feedback.

In today’s edition:

• Crypto transforming the future of payroll

• AI change management

• Neurodiversity in the workplace

🎨 This Week’s Spotlight: GoldCat

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Let’s dive in.

CRYPTO TRANSFORMING THE FUTURE OF PAYROLL

Organizations regularly seek innovative ways to attract top talent, streamline operations, and future-proof strategies. One approach gaining traction is the option to pay employees in crypto. For example, more than one-third of Kraken employees choose to receive at least a partial paycheck in crypto. The company offers five compelling reasons why organizations should consider embracing crypto in their payroll:

1. Recruit Top Global Talent

   In a borderless digital era, attracting and retaining top talent from around the globe is crucial for organizational success. Crypto payments simplify cross-border transactions and are almost instant. Employers can also recruit and retain top talent who may not prefer to be paid in their local currency.

2. Secure Payments at Little Cost

   Crypto transactions are built on blockchain technology. By incorporating crypto payroll, employers can eliminate the need for traditional banking intermediaries and bank accounts for staff in different locations. Employers can send payments globally without incurring the costs of traditional bank transfers or wires. Instead, employees can create and self-custody their own crypto wallet.

3. Dollar-Cost Averaging Made Easy

   Volatility is inherent in the cryptocurrency market, but this characteristic can be leveraged to benefit both employers and employees. Offering the option to receive a portion of salary in crypto allows employees to engage in dollar-cost averaging effortlessly. They can accumulate digital assets over time, minimizing the impact of market fluctuations and potentially benefiting from long-term value appreciation.

4. Financial Sovereignty for Employees

   Crypto empowers individuals with financial sovereignty by giving them direct control over their funds. Employees become their own bank, gaining autonomy over their finances without relying on traditional banking institutions. This level of financial freedom enhances trust and transparency, fostering a positive employer-employee relationship.

5. Future-Proof Your Employer Brand

   As the world transitions towards a digital economy, organizations that embrace emerging technologies gain a competitive edge. Offering crypto to pay employees positions your brand as forward-thinking, signaling adaptability and a commitment to staying ahead of the curve.

In conclusion, integrating crypto payroll options can be a strategic move for organizations looking to foster innovation, attract top talent, and establish themselves as leaders in the evolving landscape of modern finance. As the digital revolution continues, being at the forefront of payment technology is not just a choice; it's a necessity for those aiming to thrive in the future.

AI CHANGE MANAGEMENT

Are you leading an organization’s AI Strategy and seeking to improve internal adoption? Here are some tips:

• Fostering a culture of AI awareness: Demystify the complexities surrounding AI, emphasize its practical applications, and showcase success stories. Regularly organize workshops, webinars, and knowledge-sharing sessions. This will empower employees to appreciate the tangible benefits of AI and will ensure it becomes an integral part of their daily work routine. Employees also need to be made aware of AI’s limitations and risks to foster responsible use of the technology.

• Invest in user-friendly AI tools: Make AI accessible to all. Ensure every employee knows that ChatGPT or other AI tools exists in the organization. Make it a requirement to sign up and bookmark the AI tool to their page. The key is to build systems to make employees use the tools and make it a visible component of their day-to-day work.

• Create an AI task force: This group is assembled to spearhead the organization's AI initiatives. Their primary objective is to strategically plan, implement, and oversee the integration of AI technologies and practices within the company. This multidisciplinary team collaborates to identify opportunities where AI can bring value to the organization and works towards aligning AI initiatives with overall business objectives.

• Set up communication channels: Establish clear communication channels like Slack, Teams, etc. This is crucial for managing expectations and addressing concerns. Regularly communicate the benefits of AI adoption, provide updates on ongoing initiatives, and actively seek feedback to address any misconceptions or challenges. Transparency is key in building trust and dispelling apprehensions surrounding AI.

• Education and Training: Promote AI literacy within the organization by providing training and resources for employees at different levels. This ensures that staff members understand AI’s capabilities and potential applications in their respective roles. Streamlining user interfaces, providing intuitive training resources, and offering responsive support will expedite the learning curve, minimizing resistance to change and enhancing overall user experience.

• Cross-functional collaboration: Encourage cross-functional teams to work together on projects where you can harness the powers of AI, fostering a collaborative mindset that capitalizes on diverse perspectives and skill sets. This approach not only accelerates the pace of AI integration but also promotes a culture of continuous learning.

• Name AI champions: These are people who are already passionate about AI and involuntarily used the tools in the past. The buy-in is there, and their role is to get others to warm up to the technology and see the value. It is about inspiring adoption.

• Monitoring and Evaluation: Establish mechanisms to monitor the performance and impact of AI applications. Monitoring and measuring the impact of AI adoption is essential for refining strategies. Implement robust analytics to track the performance of AI applications, gather feedback from end-users, and conduct periodic assessments to identify areas for improvement. This data-driven approach ensures that the organization continuously evolves its AI strategy based on real-world results.

• Ethical Considerations: Address ethical concerns related to AI, such as data privacy, bias, and transparency. The task force is pivotal in ensuring that AI applications align with ethical standards and comply with relevant regulations.

Adoption of AI tools like ChatGPT conservatively saves an hour of every employee’s day which, in turn, saves thousands of dollars a year.

Final Thoughts 👇

Focus on the PEOPLE. Change management is the friction of people adopting the tech. If a friction point is someone not knowing the tech - offer training. If a friction point is someone believing they can’t use it - tap on your AI champions. If someone is scared that they are entirely alone - use communication channels. Work to address every single one of these friction points.

NEURODIVERSITY IN THE WORKPLACE

What is neurodivergence? While everyone’s brains develop similarly, no two brains function just alike. The term ‘neurodivergence’ means having a brain that works differently from the average or neurotypical person. Some examples are the autism spectrum, ADHD, and dyslexia.

Neurodivergent individuals are often recognized as some of the greatest and brightest of our time. It is no surprise that in a recent article, JPMorgan revealed that workers in the company’s neurodivergence initiative are anywhere from 90-140% more productive than their neurotypical couterparts and make fewer errors. The ability to focus on tasks, attention to detail, and a direct communication style are cited as strengths of neurodiverse workers.

Employers have made accommodations, such as noise-canceling headphones and fixed seating, to support their neurodiverse teams, recognizing the competitive advantage they bring to the workforce. Despite these successes, experts note that a majority of US graduates with autism remain unemployed, emphasizing the need for further efforts in inclusion and job accessibility.

How can other companies recreate the above results and maximize the contributions of neurodivergent staff? How can organizations embrace the unique talents and perspectives of these individuals?

Here are some ideas 💡:

• Maximize opportunities through recruitment, career development, and support

• Enhancing the unique strength and abilities neurodivergent workers bring to your company

• Tailoring working environments and practices to accommodate the specific needs and preferences of neurodivergent individuals

• Providing the support and flexibility to thrive

What am I missing? Would love to hear your thoughts.

🎨 SPOTLIGHT OF THE WEEK:

Art offers moments of serenity and reflection in the fast-paced world of HR. By combining my enthusiasm for digital art and the future of work, I aim to foster creativity, diversity, and inclusion, leveraging blockchain technology’s potential and enhancing workplace culture.

In each edition of this newsletter, I shine a spotlight on a talented digital artist who's pushing the boundaries of creativity. Stay tuned for our featured artist, where we'll explore their work, inspiration, and dedication to their craft.

This Week’s Spotlight: GoldCat

Born in Germany and raised in Kenya, GoldCat is a figurative artist known for her exploration of textural paintings in digital media. Her art, characterized by bold brushstrokes and an evocative shape language has been auctioned at Christie’s 3.0 and exhibited around the globe. Her collaborative ventures include works with actor Val Kilmer, Laurence Fuller and Jenni Pasanen.

Here are three of GoldCat’s extraordinary pieces:

Cosimo: GoldCat’s latest painting is this reinterpretation of a portrait of Cosimo I from 1960 and originally painted by Cristofano Dall'Altissimo. This request came from non other than the descendant named after Cosimo Medici himself: @CodeMedici

Even though GodCat wanted to keep the static nature of the portrait, she introduced new shapes to create a dynamic flow throughout the painting. The crimson background is inspired by the red robes often used to symbolize the power and prestige of the Medicis.

Ndege: "Ndege” means “Bird” in Swahili language. This painting currently has one of the highest resolutions among GoldCats works and is best viewed on a bigger screen. Many of her pieces carry a sense of longing, and this is no different. Caught up on one side and reaching for something unrevealed, the figure leans back, seemingly accepting the status quo. It's available on http://objkt.one

Refuge: This is the third on a dark anon series on SuperRare. Its predecessors are "Brother War" and "The Politician". In all three, their large hands are the main actors: merciless in the first, manipulative in the second, and hopeful in the third. Needless to say, this painting is shaped by the times we live in.

I’ve had the pleasure of getting to know GoldCat and acquired some of her art pieces. She is, in fact, an extraordinary artist!

IN CASE YOU MISSED IT

• Older workers fret about retirement

• The AI trust gap at work

• US job report

That’s all!

Email me if you think about any relevant topics you would like me to cover. Thoughts, feedback, and questions are welcome and appreciated.

You can read past ‘The New Bridge’ newsletters on this site 🚀.

Cheers,

The New Bridge