You probably have heard of the “metaverse” but are unclear about its impact on your job or what to do about it. The first step will then define what we are speaking about: Metaverses are immersive 3D digital worlds based on virtual reality gaming experiences. Metaverses allow people to enter using their real-life identities and use these platforms to work as well as shop, play, and hang out. In human capital management, Metaverses promise to create more realistic, immersive, and personal digital experiences, including more immersive learning, hiring, and collaboration.
Brandon Hall Group’s pulse survey, How Will the Metaverse Impact Human Capital Management?, showed that 46 percent of organizations are at least moderately familiar with the concept of the Metaverse, and almost two-thirds say it has merits.
The Need to be Prepared
A new seismic wave of web innovation could well be on its way. Employers that sit on the sidelines too long may do so at their peril.
The Metaverse, once developed, is a more immersive way to communicate with people who are physically apart. As far as we have come with the use of collaboration technologies during the pandemic, it is still basically two-dimensional video with decent audio.
As hybrid work evolves and more workers are physically separated from their colleagues, immersive work experiences – from hiring to onboarding, training, collaborating, meeting, selling, marketing, and more – will be increasingly important.
However, there are several barriers and challenges, both in refining and adopting the technology in businesses and human capital management.
Four Practical Ways to be Ready for the Metaverse
Use Cross-Functional Teams for Information Gathering
HCM leaders, and digital leaders within the HR function, must work in cross-functional teams with IT and business leaders to design the Metaverse experience. HR should influence the next-generation technology rather than react to it.
Within the HCM function, it would be great to see people from talent management, technology, compliance, learning, leadership development, and other disciplines work together to build their technology acumen and create bold ideas to revolutionize the employee experience.
Advance Organizational Knowledge of the Metaverse
Only 24 percent of organizations have advanced technology that will better address the needs of their workforce to meet business objectives in some or all areas of the organization, according to Brandon Hall Group’s most recent HCM technology study.
HCM leaders must understand that they cannot succeed in hiring, developing and retaining great talent without leading-edge technology. They must embrace technology and get up to speed — and quickly — because the next version of the internet will make the first two versions look like child’s play.
Develop Your Organization’s ‘Platform Vision’
The Metaverse amounts to a significant evolution of the internet. To leverage it correctly, organizations should have a strong understanding – “platform vision” – of the logic and architectures of digital platforms and how digital systems integrate into scalable enterprise-wide architecture.
This means that organizations will need to hire Metaverse ecosystem architects with knowledge in deep technologies such as blockchain, artificial intelligence, computer vision, data analytics, and high-speed networks to lead their digital transformation program.
Identify Areas Where Metaverse Could be Piloted and Work to Get Them Launched
Where could Metaverse technology drive employee experience and/or improve employee engagement in your organization? HCM should answer that question and work across the organization to gain a deeper understanding of the Metaverse and propose one or more small projects to get started.