3 Things That Prove VR is the
Future of Corporate Training
By Kalyani
As per the recent statistics, nearly 25% of employees quit their jobs within the first year of joining, only because of a mismanaged onboarding process. In today’s time, where finding good talent is a big challenge, 25% of it pool being lost because of something that could be corrected internally, is a big loss for companies. This figure alone shows how important it is for companies to take up corporate training to better glide through challenges and overcome them.
Although the corporate training might not show its results soon afterward, it would be beneficial in the long run. It is essential for employees to hone their skills and companies to train them regularly in order to achieve better growth and retention rate. Industries like IT, banking and finance, manufacturing demand up-to-date knowledge base given the complexity of business operations and critical data management.
Gone are the days when traditional methods like theory classes, group discussions, one-to-one training, and hands on training were the only mediums to train the employees. Such methodologies are also prone to failure since they usually don’t engage participants fully during the sessions due to the monotonicity in nature.
Novel technologies like Artificial Intelligence (AI), Cloud based application, Augmented Reality (AR), and Virtual Reality (VR) are exemplary technologies that elevate the training methods and keep employees engaged. Augmented Reality (AR) is when we digitally amplify objects using technology into the physical world. In Virtual Reality (VR), users wear a VR Headset that takes them in a 3D environment.
Let’s look at the 5 reasons why VR is the future of corporate training :
- Experiential & Deep learning: Users get hands-on training regarding tedious processes to become proficient.
- Improved retention: Users retain comprehensive information while they practice and experience the process hands-on.
- Safe & Risk-free: Attendees can practice and master intricate processes without any apprehensions or damage cause to either company property or assets.
- Customizable: The developed application can be readily updated and adapted to match any improvements or modifications in the existing processes.
- Cost & time efficient: Experiential learning reduces training time drastically as users tend to become productive sooner.
VR training programs have resulted into 40% of training time reduction and 70% of productivity improvement compared to the conventional methods. VR training methods are more engaging compared to traditional adaptations and therefore, the chances of people getting more focused increases. These techniques help participants become technically and conceptually sound without having to worry about the performance pressure.
To illustrate this better with an example, Walmart has deployed multiple Oculus Go devices across its workforces for corporate training. The participants reported 30% satisfaction in the program because of its immersive and interactive setup.
On the other hand, Intel imparted training on electrical safety through the adoption of VR techniques. The company had set up dummy manufacturing plants and task instances to help employees get a better understanding of the process. The company reported 300% ROI and 94% employees had clearer concepts than the traditional methods practiced before.
Technology has become an integral part of everyone’s life. Specially, due to the situations like pandemic, digital transformation has become quite important and companies who are still caught up with the traditional approaches are lagging behind. In order to create a better and sustainable growth process, one must constantly evolve and adopting new technologies is one of the major supporters.
On the other hand, not only technologies, but also good resources are important for businesses to flourish. But, even if the HR managers managed to scout good talent and get them on-board, the question of how adaptive will they be towards the new setup is always a concern. Keeping these scenarios in mind, if on-boarding or training processes are clubbed with the modern technologies and concepts like Gamification, AR/VR, it will help employees elevate their performances and gain better ROI.
So far, Virtual Reality in the corporate training has proved to be of a substantial contribution in most of the organizations and going forward, it will have a major impact exponentially. Companies from almost all the sectors namely, BFSI, IT, manufacturing, healthcare, retail and professional services can make use of Virtual Reality to impart corporate training for their employees and create a robust workforce. Covid-19 pandemic has already created a lot of problems worldwide and the only way to overcome situations like these is by having a loyal and talented workforce. Companies are more inclined towards hiring people with full-stack ability than specializations alone and this is
Author Bio
Kalyani is a marketing enthusiast who has touch based various digital aspects like content, social media, SEO, SEM, and email marketing. Her expertise lies in growing the business opportunities by market qualified lead generation through inbound and outbound practices, through search intent based strategies. Kalyani works for Sage Software Solutions Pvt. Ltd., a leading provider of ERP System and CRM software to small and mid-sized businesses in India.