ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Here’s How Companies Are Harnessing VR and AR to Drive Performance in the Modern Workplace

VR and AR technology is reshaping workplace engagement, training, and morale, unlocking new potentials for businesses.
PUBLISHED MAR 27, 2024
Cover Image Source: Immersive Solutions | Pexels | Photo by Eugene Capon
Cover Image Source: Immersive Solutions | Pexels | Photo by Eugene Capon

In the wake of the pandemic, employee engagement has emerged as a top priority for employers navigating the complexities of the post-COVID landscape. Against this backdrop, the rise of virtual reality (VR) and augmented reality (AR) technologies signals a profound shift in how businesses operate and engage with their workforce. 

 Natalia Verza with VR | Getty Images | Photo by Edward Berthelot
Image Source: Natalia Verza with VR | Getty Images | Photo by Edward Berthelot

No longer confined to the realm of gaming and entertainment, VR and AR are increasingly being leveraged across various industries, from manufacturing and training to e-commerce. 

As companies strive for greater productivity and efficiency, Virtual Reality (VR) has emerged as a game-changing tool. With more than half of workers reporting decreased productivity, according to McKinsey, businesses are turning to VR to enhance employee performance and drive results.

Pexels | Julia M Cameron
Image Source: Pexels | Photo by Julia M Cameron

Imagine being able to visualize and interact with products in a virtual environment before they're physically created. VR empowers designers and engineers to spot flaws and make improvements early in the design phase, eliminating the need for costly physical prototypes and reducing material wastage.

From revolutionizing task completion to facilitating efficient brainstorming sessions, VR has become a sophisticated tool with broad-reaching implications. Its ability to enable real-time data manipulation and interaction with virtual objects enhances accuracy and minimizes errors.

Pexels | Photo by Vanessa Loring
Image Source: Pexels | Photo by Vanessa Loring

In an era of constant distractions and interruptions, VR offers a solution to refocus employees and drive productivity. 

Today, employee dissatisfaction is on the rise, with studies indicating that workers are less content now than during the peak of the pandemic. This growing sense of disillusionment and detachment from work poses a significant concern for employers.

A primary contributing factor to such an attitude is the absence of personal interaction in fully remote work settings. Amidst a loneliness epidemic, traditional approaches to team bonding and morale-boosting activities often fall short, leading to low staff retention rates across industries.

Immersive Gamebox is a pioneering solution designed to address these challenges head-on. By harnessing the power of immersive technology, which seamlessly integrates augmented reality and motion tracking, the tool offers companies a unique opportunity to reinvigorate employee connection and combat low morale.

Unlike conventional team-building activities like happy hours or office trivia, which often fail to excite and engage employees, Immersive Gamebox provides an innovative alternative.

A VidCon attendee experiences Samsung Gear VR | Getty Images | Photo by Charley Gallay
Image Source: A VidCon attendee experiences Samsung Gear VR | Getty Images | Photo by Charley Gallay

Many workplaces struggle to retain their employees, leading to a surge in job-hopping. Recognizing this challenge, industry giants like UPS, Ford, and Walmart have embraced virtual reality (VR) to revolutionize various aspects of their operations, from product development to employee upskilling.

According to PWC's Metaverse report, VR-based training programs offer significant advantages over traditional classroom methods. Participants trained in VR environments demonstrated a staggering fourfold increase in learning speed and a remarkable 257 percent boost in confidence when applying newly acquired skills.

What's particularly promising is VR's impact on cultivating soft and interpersonal skills. The PWC study reveals that employees trained in VR exhibit heightened emotional connectivity compared to their classroom-trained counterparts.

Collaborating with specialized VR training providers can further enhance training effectiveness by offering tailored programs designed to meet industry-specific needs. These immersive experiences simulate real-world scenarios, allowing employees to hone their skills in a risk-free virtual setting.

MORE ON MARKET REALIST
The tariffs on beef-exporting countries and resources have put pressure on the U.S. supply chain
1 hour ago
The deals were struck with four countries, which will exempt certain essential items from tariffs.
1 hour ago
They blamed it on the Democrats because they were responsible for the shutdown.
5 hours ago
In its analysis, Gartner, Inc found that 25% of IT jobs will be done by AI by 2030.
22 hours ago
A recent analysis by UBS suggests the tariffs are holding inflation steady and troubling Americans.
22 hours ago
Some fans only want the host to give the clues to the contestants instead of an outsider.
1 day ago
The current price of the item is $16.99, which is several times higher than the $9.99 it used to be.
1 day ago
Fans were clearly not happy after two straight losses in the Bonus Round.
1 day ago
Costco one is sold for a premium price, making it a lot less affordable than the Walmart one.
1 day ago
The retail giant would not want one of its best seasonal products to remain unsold.
2 days ago
This move would severely hurt businesses and consumers will have to pay a lot more.
2 days ago
The contestant was momentarily disappointed, but she was happy to have won more than $17,000.
2 days ago
Those interested can avail the Walmart Plus membership for $49 instead of the usual $98 for a year.
2 days ago
No one saw this coming, but it doesn't mean the product won't return to the shelves again.
2 days ago
Several businesses are offering free meals to current and former military personnel on November 11.
3 days ago
Emmer believed that the President had inherited a broken economy from the previous administration.
3 days ago
With the holiday season right around the corner, the company wants to bring in big revenue.
3 days ago
The retailer has some great discounts in store for the holiday season this year.
4 days ago