Why Should Corporate Consider the Metaverse to Upskilling?

Some people are still skeptical of the?metaverse, either because they think it is exclusive to games or fear new technology changes.

Despite that, many sectors, including?Higher Education, such as?Standford university? already jumped into immersive virtual environments that perceptually surround the user, increasing his/her sense of presence or being within it.

According to PricewaterhouseCoopers (PwC ), it is forecast that emerging technologies such as virtual reality (VR) and augmented reality (AR) will impact above 23 million jobs by 2030. The good news is that these technologies will see wider adoption, adding?$1.5 trillion?value to the global economy, reported the same source.

What is driving this growth?

Leading companies recognize that Extended reality (XR), a term that encompasses virtual reality (VR), augmented reality (AR), and mixed reality (MR), can reinvent the way we communicate, experience gaming, and other forms of entertainment. They also transform several sectors such as healthcare, real estate, retail, education, and e-commerce.

That said, Corporate has all to gain to be an early adopter of the Metaverse because of some benefits that can be summarized as below:

Developing a favorable communication environment

Internal communication is crucial to highlight projects, ideas, and top talents. Moreover, it stimulates engagement since engaged employees are the most significant company asset.?

The more employees feel part of the company, the more they adopt its culture and values and commit to doing what is best for the organization.

In the same perspective, the metaverse is an innovative way to create customized and emotional experiences that foster a rich human connection.

Building trust

Trust is the basis of any relationship, and the workplace is no exception. The primary factor affecting?employee turnover is?trust between managers and their employees.

This fact lines with a research published in?July 2017 ?by Harvard Business Review, where authors explored the dynamics of the trusting relationship between managers and their employees for over ten years in multiple organizations.

Results show that employees who are less trusted by their managers are less productive and are more likely to leave the organization.

For instance, Blanchard companies , a global leader in management training, teams up with Talespin to create a series of learning modules. The initiative aims to teach leaders and their teams on new trust VR simulation and how to build and restore trust when broken in the workplace.

Empowering the workforce with a unique learning experience

A recent?PwC study ?shows that VR simulations positively impact employees learning experience, which constitutes an excellent tool for upskilling.?Below are some of the main findings of the report, (Figure: Source PwC)

• VR learners completed training four times faster than classroom learners, and one-and-a-half times faster than e-learners.
• VR simulations users are 275% more confident to act on what they learned after training.

• VR learners were 3.75 times more emotionally connected and engaged to their content than classroom learners.
• VR learners are less distracted and more focused because they explore single-task option, which also reduce the time they spend in such environment.

The metaverse is a medium for sustainable, flexible learning.?

Previously, the metaverse only talked about the online virtual world. Still, today, in the post-pandemic world, It has become a medium that connects the on/offline realms centering on augmented and virtual reality technology.

It should be considered a lifelong, sustainable, and flexible education medium for organizations. In addition to be a safe environment where learners can experience real-life complex scenarios enjoying the entire gamification process and, above all, without leaving their comfort zone.?

Moreover, it is an inclusive digital way for employees to receive their eSkills training and grow their career, and for the company to stay at the top of the industry.

Additional resource

Sungjin Park?and Sangkyun Kim

Identifying World Types to Deliver Gameful Experiences for Sustainable Learning in the Metaverse. Full text available here