Blog 4- Ways The Metaverse Could Transform HR

In a recent blog post, Bill Gates made a startling prediction: "Within the next two or three years, I predict most virtual meetings will move from 2D camera image grids... to the metaverse, a 3D space with digital avatars."

While many businesses haven't fully embraced remote work as it currently exists (which is largely dominated by Zoom calls), some (mainly tech) businesses are already taking steps to transition to the type of work that will be characterized by more genuine remote collaboration and perhaps even the metaverse.

(‘The Metaverse Trends That Will Dominate 2023 - Jumpstart Magazine’, 2023)

For HR executives who should be spearheading this shift, there could be serious repercussions as the metaverse redesigns how we work. HR leaders must make sure that the future of work is created with people in mind in addition to having access to the tools and knowledge needed to accomplish this shift.

The Metaverse: A New Form of Remote Work?

An alternative form of virtual reality (VR) is the metaverse. Most of us connect pricey VR systems used for gaming and leisure with the metaverse. However, the metaverse is considerably more complex than that.

One is that, while if VR headsets are frequently the most well-known entryway into the metaverse, there are other and more accessible devices, such as smartphones and laptops, to enter the virtual world. More importantly, the metaverse's additional value extends beyond video games and has the potential to transform our jobs.

Large digital corporations are substantially investing in metaverse technology, with some of those investments explicitly focusing on fostering workplace cooperation. These businesses include Meta (formerly Facebook), Microsoft, Google, and Apple. For instance, teams can collaborate in the same virtual space regardless of each person's physical location using Microsoft's Mesh and Meta's Horizon Workrooms, which both make use of VR technology.

It is easy to understand why Bill Gates is so confident about the chances of converting from Zoom calls to their more sophisticated 3-D version, especially given that enterprise VR is predicted to climb from $829 million in 2018 to $4.26 billion by 2023.(Vulpen, 2022)

Three areas where HR may concentrate on making the most of the metaverse in the workplace:

HR can assume more leadership and ownership as the metaverse permeates our companies. Here are three ways that the metaverse may impact HR, and how HR may impact our workplaces in the future.

1. Equity In A Modern, Digital Workplace

Building a more inclusive workplace is made possible by a metaverse-based workspace. However, the globalization that the metaverse facilitates is likely to highlight current discrepancies. This will provide a number of difficulties that HR professionals will need to resolve:(Vulpen, 2022)

•  Hierarchy Of Tech-Savviness Versus Technophobia

Younger employees will probably feel at home in the metaverse, but many others will need to learn how to do things entirely differently. (Vulpen, 2022)

• Bandwidth Requirements That May Emphasize Inequity:

More internet capacity is needed for a metaverse, and less developed places typically have fewer economic possibilities. (Vulpen, 2022)

• Workplace Safety, Well-Being And Inclusivity

Even while most interactions in the metaverse will take place between avatars, this will still be a work environment. When it comes to their employees, businesses must continue to take diversity, inclusion, and belonging seriously. Therefore, in order to prevent undesirable conduct like harassment, abuse, or bullying in this virtual environment, HR professionals will need to decide how to manage it specifically. (Vulpen, 2022)

2. Creating A Productive, Collaborative Workplace

The definition of hybrid work may be expanded by the new method of working in the metaverse. Employees may cooperate remotely and interact in a more genuine and human way thanks to this technology. A virtual workspace and a real workplace may one day merge.

3. With The Metaverse, Hiring Will Likely Change

The work of HR specialists might benefit from the metaverse. Numerous businesses are currently testing the use of the metaverse for hiring employees. For instance, the automobile manufacturer Hyundai employed the metaverse for new hire onboarding, and the Korean electronics company Samsung held a virtual job fair. The PwC office in the UK employs technology in hiring; to conduct employment interviews, it developed the metaverse platform known as Virtual Park. In a similar vein, HR departments might be able to leverage the metaverse to more effectively onboard employees who work remotely. These workers might participate in 3-D training and simulations.

Conclusion

The metaverse might potentially alter our workplaces, not because huge tech corporations are pushing it but rather because of its added value. However, the metaverse is not without its difficulties, particularly with regard to data privacy and expensive expenses. HR will need to direct this development to make sure that even more people can engage remotely in this new future of work and do so in a more genuine way.

References 

How to prepare your business for Metaverse trends in 2023 (no date) Business of Apps. Available at: https://www.businessofapps.com/insights/how-to-prepare-your-business-for-metaverse-trends-in-2023/ (Accessed: 22 August 2023).

‘The Metaverse Trends That Will Dominate 2023 - Jumpstart Magazine’ (2023), 3 January. Available at: https://www.jumpstartmag.com/the-metaverse-trends-that-will-dominate-2023/ (Accessed: 22 August 2023).

Vulpen, E. van (June, 03) Council Post: Three Ways The Metaverse Could Transform HR, Forbes. Available at: https://www.forbes.com/sites/forbeshumanresourcescouncil/2022/06/03/three-ways-the-metaverse-could-transform-hr/ (Accessed: 22 August 2023).