The term that has recently generated a lot of discussions is "Metaverse." Everyone around the globe is being affected by the waves of this new technology, be it social networking sites or businesses.
Earlier, people only wielded Metaverse as a form of entertainment and it was only a component of the game business. But today, it goes beyond that; the possibilities of metaverse are endless, from arranging virtual weddings to holding virtual job fairs.
In its broadest sense, Metaverse can be described as a graphically rich virtual world, with a certain level of authenticity, in which people can play, work, shop, and socialize. In other words, doing the things that humans love to do regularly (or perhaps, more importantly, on the Internet).
However, do you believe that HR may be transformed by Metaverse? It most certainly does. The World Economic Forum estimates that during the next two years, 58 percent of businesses will adopt this technology.
For instance: Accenture (one of the top global companies) has recently launched a Metaverse Continuum business group redefining their way of interaction, working, and operations. The company also runs its Metaverse, the Nth floor, where employees can engage in team-based interactions, immersive learning, and new hire orientation. The business anticipates that at least 150,000 new hires will begin their job in Metaverse throughout this fiscal year.
Let us now discuss the possibilities that this technology does have in store for human resources.
There will be a new universe of communication and interaction when Metaverse enters the HR space, and this will have the following effects on how HR operates:
1) Learning & Development
Metaverse plays a crucial role in upskilling employees and meeting employers' training demands. By providing ongoing training opportunities in a malleable and convenient way, the virtual reality experience can aid in personnel training and education.
Employees can use this technology to gain new skills by studying relevant, concrete, and real-world examples. This will also speed up training, fostering mutual growth between businesses and employees. According to PwC reports, practicing real-life events in the VR environment can aid employers in training and educating their employees, which can improve employee performance by 70 percent.
For example, The Original Content Company (TOCC) in collaboration with Vodafone, Gamoola, The Frid Factory, and Xpllore, created VR applications that let students play the role of a field engineer to maintain and install cell phone infrastructure. In addition, a VR-based training experience allows the possibility of remote learning and development; it also provides an improvement in the amount of time spent in training.
2) Talent Acquisition
For recruiters, remote hiring has proved quite difficult. They find it perplexing to understand employee etiquette and evaluate their responses or attitudes due to the lack of physically interacting and limited actions. With the use of the Metaverse, which allows them to engage with candidates as well as monitor any changes in their behavior throughout the hiring process, recruiters may overcome this difficulty. Employees can also take a virtual tour of the office to familiarize themselves with the setting.
One way that job seekers can interact with potential employers and see firsthand the kind of company they might be working for is through virtual recruitment fairs. People want more companies to offer virtual tours so that prospective employees may get a feel for the work environment.
For instance, Deloitte used’Blend Media’ (a home to VR, AR, 360 degrees, and 3D content solutions) to create an immersive and interactive 360 experience that allowed candidates to feel comfortable and confident in their new workplace by giving them a virtual tour of the workplace. The tour is accessible on the desktop and accompanied by headsets for a full-on experience.
3) Collaborative and productive workplace
Team structures and work environments will undergo a massive change in the Metaverse workplace. The last two years have seen a shift in the Workforce, with working in hybrid structure meetings and collaborations occurring through technology platforms.
The Metaverse can change the way firms’ work by making collaborative conversations with groups more engaging by encouraging interactions with hands-free devices and avatars rather than smartphones and laptops. As a result of this technology, companies will be able to expand their reach to employees who no longer need to be within commuting distance of a physical office.
HR must configure the metaverse in their enterprises in a way that boosts productivity. Businesses can construct workspaces that foster collaboration, creativity, decision-making, amusement, or any combination of these using the virtual architecture of the Metaverse, which allows them to move beyond the conventional, frequently uninspired office setting.
Additionally, employees can join a meeting and connect with their superiors, peers, or employers anywhere in the world. Companies can leverage virtual keywords to generate ideas, discuss and display papers, and even carry out Friday-fun activities thanks to Metaverse technology.
The pandemic has increased the probability of the Metaverse becoming a mainstream phenomenon. Because businesses are looking for new ways of interacting with their stakeholders, clients and customers. One of the consequences of the pandemic and the future of hybrid work is the shift toward a new virtual world that effortlessly blends one with the other.
To give context, Gartner anticipates that, in 2026, 25 percent of people will at least spend an hour each day in the Metaverse for shopping, work, educational purposes, social media, or entertainment.
After two years with remote Zoom or Teams world, does a 3D world appear less or more attractive? The virtual workplace provided by technology could soon sound more appealing to people who want to interact with each other within virtual spaces. The long-term goal is to allow people access the Metaverse on all locations and devices via apps on PCs and mobile devices and through VR and AR immersive tools.
Being able to think of good ideas is just one aspect of the task - paying attention to the distribution of resources, the culture, values, and the purpose of the organization is crucial to success.
Strategic HR is all about scheduling and planning the direction of the Workforce. As the next generation of technologists design the workplace of the future, HR must be involved to discuss the consequences of innovation and vision. HR should be aware of the Metaverse concept and how it can aid, and where it's likely to lead us.
As we progress toward a more distributed method of working across many industries and sectors, we still rely on the two-dimensional way of video and high-quality audio; however, as a means of interaction, it does not meet the needs of humans. Humans aren't accustomed to interacting with each other in this manner constantly. We're trained to look at others when they speak and react with gestures. To satisfy this need, an immersive experience is required. This is how Virtual Reality could fill the gap since it could mimic how someone just to your left is speaking to you, providing multidirectional dialogue, similar to sitting around a boardroom table.
The Metaverse isn't just about gaming; it's evolving into an interactive platform for collaboration, education, training, and communications. This will empower employees and transform our perception of work by increasing our capacity to learn and collaborate. It is an entirely new method to work.
In the current era of rapid technological advancements, The Metaverse is on track to be one of the most significant technological breakthroughs of all time. Once the Metaverse is finally here, businesses will be able to use it to educate existing employees and recruit new staff, retain top talent and offer a new level of personalization that allows companies to differentiate themselves from competitors.
It is believed that the Metaverse is the latest technological frontier in the workplace, and it is something everyone should be aware of.
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