The future is here: How HR tech can support the adoption of the Metaverse at the workplace

By Sumit Sabharwal, CEO, TeamLease HRtech

The days when futuristic advancements were considered the stuff of sci-fi movies are long gone. We live in the golden era of technology; a new digital revolution is afoot. In fact, technology has progressed to the extent that virtual reality has become a mainstream concept. Yes, we’re referring to the Metaverse, an alternate virtual world where individuals are replaced by avatars, allowing people to gather together irrespective of their geographical location.

The Metaverse has ushered in the future of almost everything and has become an expansive subject field, with its adoption being surprisingly quick and smooth, especially amid the pandemic. In companies across verticals, the Metaverse is gradually making its way into multiple business functions. HR tech is one such function that can be a catalyst for the Metaverse’s adoption in the workplace, elevating the way the entire office functions.

Evolving employee expectations, greater engagement, and a better work culture
At a time when phenomena like Great Resignation and Quiet Quitting are increasingly becoming common, hiring and retaining the crème-de-la-crème of talent is a challenge for companies. Employee expectations have evolved drastically, and only companies that have adapted to the new norms make it to the top. Employees aren’t seeking a job that will simply offer them monetary benefits. They want a workplace that considers their well-being, offers flexibility and fosters a healthy work culture. While technology is now playing an integral role in aspects like employee engagement and hiring, the Metaverse brings something more to the table.

We’re currently in an era where both remote and hybrid working models have become the norm, and video-based meetings, workshops, and events are a staple. The Metaverse takes this to a new level. Regular employer-employee interaction and team discussions can help build a favourable culture within the organisation. In the Metaverse, employees could use their digital avatars to connect with each other regardless of their location and create a work environment that they look forward to being in every day.

Creating cost-efficient organisations
With Metaverse, HR teams can offer virtual and real-time workplace tours to candidates, making the virtual interview process a lot like, if not better, the physical one. Besides, the Metaverse can also save the company time, costs, and other resources like human effort when they offer virtual training and development and set up an office-like environment for remote employees. Even large-scale corporate events and conferences can be organised easily. In the simplest terms, the Metaverse has the potential to catapult the HR function to a phase of futuristic cost-efficiency that would otherwise take several years to reach.

The road ahead
Leading global companies are already leveraging the Metaverse for hiring and people management. Although HR tech has progressed to a level that would have been unimaginable a decade ago, the Metaverse will open new avenues in terms of enabling organisations to hire diverse talent pools with the aid of a virtual, 3-dimensional world. Further, VR will provide the right virtual environment to test the analytical, functional, and technical skills of potential candidates. A broadened evaluation process will increase the chances of finding near-perfect employees for every job.

According to Gartner, 25% of individuals will spend at least an hour every day in the Metaverse for work, retail, education, social networking, and leisure by 2026. It’s the next phase of growth for the internet and is poised to become a breakthrough technology, and when HR tech and the Metaverse join forces, it will be the next frontier for organisations.