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
Guests on the show would run with it if they ever got that kind of money on Pawn Stars.
12 hours ago
The guest even said to keep the kids in the dark about how valuable these items were.
14 hours ago
The company had fantastic sales but a crushing debt with a high interest rate that the sharks hated.
17 hours ago
It was only Carey's second season in the show and he could have been part of a massive scandal.
1 day ago
“I won’t say anything, and you know why,” he said, with a gesture to zip his lips.
1 day ago
The ring was rescued by the guest's mother thanks to a stranger early in the morning.
1 day ago
"She blanked out. It happens to the best of us," a fan sympathized with the player.
1 day ago
The instrument originally belonged to the guest's grandfather who suffered a horrific injury.
2 days ago
The contestant's wife seemed embarassed at that point of time, and worried as well.
2 days ago
The co-founders of Dino Don got the shark that they always wanted on board.
2 days ago
One can understand why the measure is in place but the shopper was having none of it.
2 days ago
"My husband and I definitely noticed it! We had to rewind it a few times," a fan reacted.
2 days ago
All of the sharks agreed that she had a great product and the drive to be successful a businesswoman.
3 days ago
It's possible that the dog played a little part in making it easier for them to get a deal.
3 days ago
Without the help of his wife, the contestant would have gone home empty-handed.
3 days ago
The pawn store owner had a valid point since the item the guest had brought had numerous issues.
3 days ago
The contestant got the first part of the puzzle right but wasn't able to solve it in time.
3 days ago
"It's a lady's robe. A robe from 1750 is a very rare robe. The only other ones I know of this type, you'd have to go to Beijing," the appraiser said.
4 days ago
Harvey also got other hilarious answers, but nothing could match the woman's sass.
4 days ago
The Gronkowski family is famous for their contributions to America's sporting culture.
4 days ago