Metaverse – Hiring in New Way !!!
The term “Metaverse” is buzzword in the industry and on social media. Everyone is hopeful of exciting and adventurous opportunities for businesses and consumers in it. The word was first introduced by sci-fi author Neal Stephenson in 1992 in his novel “Snow Crash”.
In 2040, the day in your life may look like “attending morning stand up with team in Silicon Valley at 9am, a client meeting in London at 12pm, 2pm lunch with your supplier at China and evening review with Sydney product team – all from the comfort of your New Delhi office. “
Pew Research centre and Elon university
In their study, and from open ended response from 624 tech innovators, developers, researchers and business leaders resulted in
- 54% of these experts said that they expect by 2040 the metaverse WILL be a much-more-refined and truly fully-immersive, well-functioning aspect of daily life for a half billion or more people globally.
- 46% said that they expect by 2040 the metaverse WILL NOT be a much-more-refined and truly fully-immersive, well-functioning aspect of daily life for a half billion or more people globally.
But many of us are not aware about Metaverse, how to use it, which is apt use case and how it can be part of business long term strategy, what are compliances and regulations are associated? and many more. Experts are split about evolution and maturity of Metaverse. It may be propaganda or optimism or hell. So, what to expect from Metaverse, to be honest, nobody knows.
To get some clarity on concept, visualize a virtual world in which individuals live, work, communicate and shop virtually right from the own physical place. It is considered as a progression to current internet age.
The metaverse is built on top of internet where users with help of new age technologies such as VR (Virtual Reality), AR (Augmented Reality) and AI (Artificial Intelligence) or with combined name of Extended Reality (XR) can navigate a virtual world that emulates different aspects of the real world. In other words, you can live in the metaverse with your avatar.
The people use these avatars to characterize themselves, communicate with each other and virtually build out the communities in the metaverse. There is a digital currency to buy avatar outfit, powers, shields for their gaming. Users can virtually access different places, touch & feel different objects within metaverse for fun while sitting at their couch.
What Bill Gates Predicted….
In his annual review blog post at Microsoft, Bill Gates predicted that “Within the next two or three years, I predict most virtual meetings will move from 2D camera image grids—which I call the Hollywood Squares model, although I know that probably dates me—to the metaverse, a 3D space with digital avatars. Both Facebook and Microsoft recently unveiled their visions for this, which gave most people their first view of what it will look like. The idea is that you will eventually use your avatar to meet with people in a virtual space that replicates the feeling of being in an actual room with them. To do this, you’ll need something like VR goggles and motion capture gloves to accurately capture your expressions, body language, and the quality of your voice. Most people don’t own these tools yet, which will slow adoption somewhat.”
As more and more users are associating with Metaverse, demand of platforms is also growing. The big players are investing and building their own ecosystem on Metaverse. Followers of Metaverse believe that rapid evolution in XR technologies will help different areas of society like healthcare, gaming, education, entertainment, manufacturing, telecom and improve the day to day lives of people. The innovation in hardware technology combined with progress in Artificial intelligence (AI) would open new avenues and use cases in this area AND to support expert talent would be required. The talent would be required both in building metaverse ecosystem, applications as operating system of this virtual environment, and to run , monitor & support metaverse applications. The creation of entirely new areas and innovation in different technologies would increase need of right skillset and training programs.
The New Normal
With a new normal, all hiring processes are using virtual means from candidate sourcing to employee onboarding. Many companies have started hiring through virtual career fairs, training and work from anywhere i.e. virtually. Companies are also exploring “Hiring in Metaverse” as strong use case and ready to invest. While the concept of hiring in metaverse is in preliminary stage but it can be proved as a strong potential proposition for industry. It can be mapped with different phases hiring lifecycle.
Enhanced Candidate Experience
Job market is becoming competitive and demand for high skilled talent is need of the hour. Companies are trying their level best to attract talent with monetary terms but that is not enough to stay competitive. Candidates are expecting better work life balance, competitive compensation and continuous learning on their terms. Recent study has shown that large percentage of employees are ready to quit the job rather than going back to their offices. But, metaverse can bridge this gap.
There are enormous technology opportunities in metaverse which can help employers to build virtual but productive ecosystem of collaboration from the comfort of employee workplace. Hiring can be done in virtual career fairs, interviews discussion between panel and candidate avatars, onboarding within organization with virtual touch points like physical office. It would enhance candidate experience of more gentle, cooperative, informative and exciting. For employers, they can create a complete candidate virtual journey where their people, ethics, vision & mission, products & services, projects & clients, day to day working environment can be demonstrated and felt as real as possible. It would help candidates to decide where they are getting into.
Personalized Hiring Process
In current hiring process, candidates are most of the time evaluated based on their performance in restrictive timelines like school exams where student is evaluated only based on 2-3 exam. With adoption of new metaverse technologies and applications, candidate feedback will be based on their overall personality, skillset, work done in past and aspirations. The whole process can be personalized as per candidate where candidate is given liberty to share their info and express their thoughts. It would make the overall hiring process quicker and informal for both employers and candidates.
Better Evaluation Process and Assessments
There are different phases in candidate evaluation process and technical test is important but costly and tedious phase. The virtual assessments of today are not flexible and effective as more and more fake candidates pass through, and impacting company performance. These virtual assessments through metaverse can be a great solution, combining experiences of the both worlds i.e., virtual and real. The evolution of gamification can make this assessment as fun using dedicated assessment rooms where both panel and candidates can enter into metaverse world with real time interactions on tests and interviews phases. Employer can fairly get 360-degree view candidate skills, personality and fitment for the role. It can also help in addressing unwarranted biases like gender, religion, race, and background in interview process where standard avatars are used to interact in virtual world.
Offer Negotiation and Acceptance
After meticulous searching, screening, and selecting, you enter the offer phase. This phase, involving negotiation and candidate acceptance, can determine the success or failure of your recruitment process. Candidate uncertainty about organization, compensation, or acceptance followed by no-show undermines your efforts in vain. In such cases, you find yourself back at square one, needing to restart the process.
Offer negotiation process are traditionally held either in person or over the phone. Since the COVID-19, there has been a transition from in-person negotiations to negotiations on virtual video conference tools. The offer letters using digital signature through emails is prevalent in each industry. With the use of XR technology integrated with document management systems and blockchain based recording keeping ledgers into the metaverse, negotiation on offer letters as well as sharing & signing of documents in the metaverse could be held in virtual office spaces, where company HR and candidates are available in order to negotiate or sign documents. Any negotiations, document amendments or signing of documents could be stored contemporaneously on the company blockchain ledgers.
Employee Onboarding is the process of welcoming and introducing new employees to the company environment and culture. It’s the first formal interaction that an employee has after a long evaluation process which helps employee to settle down. They also get to know the workplace, people & processes and get clarity on roles and responsibilities. Current, onboarding process is very costly and time consuming, doesn’t add much value to employee experience. If it is not done well, employee may regret to accept this offer and start thinking of alternatives in back of the mind.
Since the Covid19, the adoption of virtual onboarding process has reduced the costs for organizations. But candidate experience has also gone down, missing holistic experience and connect with real organization. The metaverse can transform the existing monotonous process to interactive experience. This can establish a right connect between new employee and organization. The metaverse world can help organizations to build a virtual space. Depicting organization culture, values, office walkthrough, training infrastructure, meet & greet with colleagues, and give real time feel. The inclusive experience in metaverse can help new employees to settle down and feel comfortable. Which is the key to employee retention and loyalty.
The adoption of metaverse presents great opportunities to hiring industry. Organization engagement with candidates can be stronger than ever, the metaverse based hiring ecosystem can bring employers and candidate closer. From the 1st engagement with candidate after screening to evaluation, cultural discussion, offer and onboarding can be transformed the way organizations are attracting talent. The early movers are already investing this ecosystem but it is still in preliminary stage. One or the other way, metaverse adoption is going to help organizations and Metaverse is here to stay.
At i-Qode Digital Solutions, we love being creative and always exploring new technology avenues to work and contribute to rising XR industry demand. XR skillset demand is growing exponentially and providing new opportunities. For anyone searching to work in the immersive Metaverse technology industry, It can be the perfect pathway for innovation.
Reach out to i-Qode Digital team to know more about Metaverse work within i-Qode and with our customers at email@example.com.
Extended reality (XR)
It is an umbrella term to cover all of the various forms of computer-altered reality. For some experts and technologists, other terms fall under the XR umbrella:
Virtual reality (VR)
It completely immerses people in a digital setting. These settings can be created as fully synthetic computer-generated content. They can be made of real-world content (set in actual 360-degree video), or they can be a hybrid of both. Roblox is one of many popular metaverse VR platforms in 2022. Today’s fullest home or work VR experiences require individuals to use a head-mounted device and haptic controllers.
Augmented reality (AR)
It overlays digital information in real-world settings. You are applying AR when you use your phone’s camera to translate signs and menus in real time from one language to another, or if you play Pokémon Go. Hundreds of AR applications are available today for use on smartphones. AR keeps the real world central but enhances it with digital details that supplement the environment.
Mixed reality (MR)
It experiences allow people to interact with and manipulate computer-generated images in the real world, in real time. You use headset but see and remain immersed in the real world while interacting with images using your hands. For instance, a 3D architectural floor plan for a new school or 3D schematic for an electric vehicle. At this point in time MR is mostly used in industrial, military and medical training and design.
They are digital creations that mimic the physical and social structures of the real world in a VR setting. Several companies are already working to create such representations of the entire planet. For example, Nvidia’s Earth-2 is a digital twin that aims to enhance the capacity for climate modeling. And many mirror worlds are settings for games or businesses. One example is Upland, a virtual-property NFT game (non-fungible-token game) where people buy, sell and trade virtual properties mapped to the real world – for instance, a real-world baseball stadium or museum.
Image by pch.vector on Freepik