The News: The PwC 2022 US Metaverse Survey found that 51% of companies are either in the process of integrating virtual reality (VR) into their strategy, or have already built VR into at least one dedicated line of business. The research found that VR-trained employees had 4 times higher confidence, 3.75 times higher retention rate, and completed training 4 times faster than traditional methods. Read more about the US Metaverse Survey on the PwC website.
Metaverse and HR Integration for Human Resources Management
Analyst Take: VR has been leveraged for teaching hard skills and offering realistic simulations, such as for airplane pilots or equipment maintenance. With the rise of the metaverse, VR (which is one of several ways to enter the metaverse) is also growing more common. The metaverse is an emerging 3D-enabled digital space that uses VR, augmented reality (AR), and other advanced internet and semiconductor technology to allow people to have lifelike personal and business experiences online. The PwC 2022 US Metaverse Survey found that 51% of companies reported that they were either in the process of integrating VR into their strategy or have already built VR into at least one dedicated line of business. Thirty-four percent say that one of the biggest metaverse benefits they currently enjoy or foresee is “a more effective way to develop and train our people.” The survey findings highlight the potential effectiveness of immersive training in improving learning outcomes.
Accenture, working closely with Microsoft, uses the metaverse to elevate training, collaboration, and onboarding in the Nth Floor, a virtual space where new hires meet and learn. Active learning in immersive virtual spaces allows employees to practice soft skills and simulate their jobs. During the pandemic, Accenture onboarded 150,000 new team members virtually. Rather than simply using Zoom, each new Accenture employee received a laptop and an extended reality (XR) headset providing them with an immersive experience from the start of their career at the virtual One Accenture Park. They were then involved in team collaboration during multiple meet-and-greets, large and small group meetings, and town halls.
Metaverse and HR Integration Opportunities
Metaverse and human resources (HR) integration presents various opportunities for HR management, including:
- Recruitment: Companies can offer potential hires a behind-the-scenes tour of the workplace, show the projects they are currently working on, and enable candidates to get a feel of what it is like to work with them.
- Onboarding: Metaverse training programs can provide an interactive office tour instead of relying solely on traditional methods, such as lengthy orientation sessions or paperwork. These programs create virtual scenarios that closely mimic real-world situations, so new hires are able to familiarize themselves with their job responsibilities and gain confidence before engaging in actual work.
- Performance management: Companies can create realistic simulations to measure employee skills and knowledge in a virtual environment. These simulations provide a controlled, standardized setting where individuals can demonstrate their capabilities and competencies.
Metaverse and HR Integration Challenges
Although metaverse and HR integration presents opportunities, there are challenges for companies in terms of implementation, including:
- Technical challenges: Companies may not have the advanced technological expertise to implement a metaverse environment, which also can be time-consuming and expensive.
- Accessibility: The hardware or software required to access the metaverse environment can restrict its use and effectiveness for the employee.
- Security and privacy risks: The metaverse environment can threaten security and privacy, particularly if sensitive data is shared or stored in the virtual workspace.
During the pandemic, employees became experienced staying connected via Zoom and other virtual meeting platforms. Thus, it is not surprising that a study of 1,500 employees and 1,500 employers in the US conducted by ExpressVPN indicates that “nearly 3 in 5 employees and 4 in 5 employers are interested in an immersive workforce.” Their research also indicates that “66 percent of employers are excited about the metaverse, and 46 percent of employees share the same excitement.”
Solar Panels Network USA is taking steps to prepare for the potential impact of the metaverse by working with its IT department to make sure that data security systems can protect employee information in a virtual world, examining how the company can use the metaverse to enhance training and development programs, and meeting with employees to get their input on what they would like to see from a virtual workplace.
Disclosure: The Futurum Group is a research and advisory firm that engages or has engaged in research, analysis, and advisory services with many technology companies, including those mentioned in this article. The author does not hold any equity positions with any company mentioned in this article.
Analysis and opinions expressed herein are specific to the analyst individually and data and other information that might have been provided for validation, not those of The Futurum Group as a whole.
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Author Information
Clint brings over 20 years of market research and consulting experience, focused on emerging technology markets. He was co-founder and CEO of Dash Network, an integrated research and digital media firm focused on the CX market, which was acquired by The Futurum Group in 2022. He previously founded Tractica with a focus on human interaction with technology, including coverage of AI, user interface technologies, advanced computing, and other emerging sectors. Acquired by Informa Group, Clint served as Chief Research Officer for Informa’s research division, Omdia, with management and content strategy responsibility, formed by the combination of Tractica, Ovum, IHS Markit Technology, and Heavy Reading.
Clint was previously the founder and President of Pike Research, a leading market intelligence firm focused on the global clean technology industry, which was acquired by Navigant Consulting where he was Managing Director of the Navigant Research business.
Prior to Pike Research, Clint was Chief Research Officer at ABI Research, a New York-based industry analyst firm concentrating on the impact of emerging technologies on global consumer and business markets.
Clint holds a Master of Business Administration in Telecommunications Management from the University of Dallas and a Bachelor of Arts in History from Washington & Lee University.
