By Abhishek Agarwal, President, Judge India & Global Delivery, The Judge Group
In 2021, Mark Zuckerberg announced the new name of Facebook. It would henceforward be known as Meta. The decision was quite bigby he company because nearly 3 billion of the global population uses the site actively every month (Statista, 2022).
Rebranding the world’s top social media platform (as a number of key industry analysts like Small Biz Trends, Shopify, Influencer Marketing Hub, and many others corroborate) wasn’t an idea from an itch for change. So was done because Zuckerberg believes that—
“[T]he metaverse is the next chapter of the Internet. Just like we had the mobile internet, I think this is going to be the successor to that.”
What is this metaverse?
The term ‘metaverse’ has been formed from the blend of the word ‘universe’ with the Greek prefix -meta, and it means ‘beyond the universe’. This will be like a completely new digital reality, defining a whole new world, which will be accessible but only via technology. And,the metaverse will remain under constant virtual expansion and renewal just like our true universe.
The concept of metaverse gathered steam as the world became more online-centric during the pandemic. The metaverse, as a word, has come to be described as a wide range of virtual experiences, objects, and settings.
Both the majority of social media and video games where users are empowered to craft their own worlds contain metaverse characteristics. You can also embark n this metaverse adventure if you have Augmented Reality (AR) glasses, a Virtual Reality (VR) headset, a crypto wallet, or membership to an online source providing it.
Facebook has taken its leap of faith in the metaverse. Other tech giants such as Microsoft, Apple, Amazon, and Alphabet are slowly spilling their plans out through the new changes in their tech offerings.
Can HR leaders allay post-COVID concerns by way of the metaverse?
Since the COVID breakout, the business environment has become substantially riskier because of abrupt, unannounced approaches being taken by employers and less cooperative responses from employees. And, neither can be blamed because newly arising Coronavirus variants, inadequate vaccine provisions, and intermittent economic shocks have kept people in prolonged bewilderment. They are apprehensive even about tomorrow.
A 2021 study by Frontiers in Psychology tells that the COVID-resulting uncertainty was way more tumultuous than that of an economy like the USA. As well as that, the COVID spill-over effects rose from 34.2 to 47.6 percent.
Corporations have had to face economic and health challenges simultaneously, which has given rise to new outlooks and regulations for customer and employee engagement, unwilling provisioning of remote work, supply chain restructuring, and a number of foreclosures, mergers, sad acquisitions, and massive attritions.
To retain productivity in the new hybrid culture, it is critical to make use of new technologies – and the metaverse seems to be the one that will rebuild the whole working environment.
However, to ensure proper metaverse working procedures, Human Resources (HR)needs to draft new hybrid working policies as well as instruct industry runners through sessions on how to lead in this upcoming setup.
High time for HR teams to prepare for metaversal innovation!
HR professionals are bearing greater strain than ever to hire candidates with the necessary aptitudes to fill positions and advance business evolution. While acquiring limited, essential competencies is urgent, the current economic context also calls for cost optimization.
· For recruitment
Assimilation of the metaverse will assist HR rope in the new-generation talent who re rather interested in unique experiences and future-friendly opportunities. Thus, HR can also match pace with big company recruiters around the world.
Ultra-tech employers are already letting their new staff participate in virtual training conducted by their trainer avatars. Because of the metaverse’s ability to create socializing places like meeting rooms, conference halls, coffee shops, etc.—almost resembling those within the actual world—companies can have fruitful one-on-one’s with their potential employees and clientele even before they shake hands. The metaverse won’t only save the hassle of traveling and a concrete setup but will also spiff up the whole signing process.
· For distance collaboration
Even when co-workers are not physically there together, the metaverse can provide a convincing impression of their presence. Using the metaverse, businesses can manage important meetings, briefings, presentations, training sessions, and events without any lags.
· For better retention
Employees who resign from companies because they either prefer remote work or have become habitual of working from home during lockdowns may come back metaversally. With the metaverse, HR may tailor the company’s value proposition around employees’ social and recreational preferences, thus improving their retention.
With all said, HR must understand how important their own knowledge of the metaverse is before its implementation. They’d better take into account the abilities the employees as well as the employer should develop to survive in this virtual environment. Human Resources will need to re-craft training & development programs in line with current global work-facilitating technologies to have the workforce ready to reap the best from the approaching groundbreaking phenomenon called metaverse.