SHL, the global leader in talent innovation, announced its role as a founding member of the Velocity Network Foundation, a nonprofit member-based consortium of 15 multinational, enterprise labor market companies with a shared goal to become the world’s first blockchain-powered ‘internet of careers’.

The goal of this venture is to empower employees to claim and manage their career credentials, including verified education, projects, skills and work history. Individuals will have the option to choose who has access to their career credentials, and how that information is used. Employers reap the benefit of gaining talent prepared with a more complete picture of their past career and future potential.

The founding of the Velocity Network Foundation comes at a crucial point in time when human resource data is siloed, data privacy laws are putting ownership of personal data back into the hands of individuals, and businesses are in an ultra-competitive race to attract, select, develop, and retain top talent.

“Employers who demonstrate forward thinking on their approach to employee data will have access to better talent,” said Andrew Bradshaw, SHL’s CEO. “People stay with employers who treat them fairly, who offer them insightful learning experiences, and who earn their trust with clear privacy standards and communications practices. When it comes to talent, doing good is good for business.”