Although traditionally associated with video games and other recreational uses, virtual reality (VR) technology has seen increased adoption in the workplace as enterprises realize the efficacies of VR technology for corporate training. VR technology allows companies to carry out training in controlled, simulated environments that provide trainees opportunities to hone their skills and interact with life-like work scenarios without being exposed to any real-world risks.
Bank of America, FedEx, GE, JetBlue, Verizon, and Walmart are just some examples of corporations that are turning to VR technology to address a wide gamut of corporate training needs, helping to fill the shortage of skilled workers post-pandemic.
Statistics About Virtual Reality in Companies & Corporate Settings
- Roughly 23 million jobs globally are set to rely on virtual reality training in some capacity by 2030, according to PwC.
- According to research from Stanford University and the Technical University of Denmark (Danmarks Tekniske Universitet), virtual reality training is 76% more effective than traditional methods.
- 39% of large enterprises are leveraging VR/AR to carry out training in simulated environments, Chaos Theory reports.
- 82% of companies currently implementing virtual and/or augmented reality find their benefits to either be meeting or exceeding expectations, Capgemini Research Institute finds in a report.
- VR training can help reduce injuries by up to 43% in high-consequence workplaces, Capgemini reports.
- VR training generally takes 4× faster to complete compared to traditional training, a Pixo report finds.
- VR training participants demonstrated on average 12% higher accuracy and 17% faster time to completion than instructional video participants, the same Stanford research concluded.
How Companies Are Using Virtual Reality
Onboarding New Employees/Simulated Skills Training
Companies are using VR to onboard new employees and to help them learn valuable technical skills. The simulated scenarios made possible by virtual reality provide a much better and more immersive learning experience compared to traditional corporate training centered around reading or watching instructional videos.
They also provide opportunities for employees to gain “hands-on” experience and practice complex processes without interrupting day-to-day business operations. Furthermore, VR training scenarios can also eliminate any potential dangers that may arise while practicing new skills in an uncontrolled “live” environment, which is especially important for high-consequence workplaces.
Help Develop Soft Skills
Soft skills such as negotiating, networking, relationship management, and public speaking are vital in improving customer service and the overall success of many businesses. Unfortunately, these often tend to be challenging topics for many to learn and retain through traditional instruction.
Through virtual reality, companies can help foster these soft skills in employees through simulated, interactive corporate training experiences. For example, employees can practice addressing a room full of people in an immersive VR environment that’s life-like without feeling self-conscious.
Emergency Preparation and Management
Companies are also leveraging fully simulated environments in virtual reality to train employees to prepare and manage emergency scenarios (such as robberies) that may occur in the workplace. This is especially useful for customer-facing businesses such as retail and others that interact directly with the public in person. To help them operate under these often-life-threatening emergencies, employees are placed in simulated VR scenarios and trained to respond to these emergency scenarios virtually through interactive role-playing and immersive branched learning exercises. This allows them to practice decision-making and conflict resolution under duress in a controlled, safe environment, preparing them should such emergencies ever occur in real life.
Diversity and Inclusion Training
Many companies have increased their focus on diversity and inclusion training in recent years, incorporating VR to help tackle this challenge that many find sensitive. Companies can thoughtfully simulate realistic human interactions that may occur in a diverse workplace using virtual reality, allowing employees to experience another person’s point of view, and creating a safe space for employees to address diversity challenges.
This training is important in helping employees recognize their unconscious biases, develop racial awareness, handle microaggressions, and become more empathetic toward their coworkers and customers.
Why Is Virtual Reality Technology and Gear Helpful for Corporate Training?
Minimize Risk
Virtual reality allows companies to create risk-free, controlled training environments that mirror real-life scenarios. These simulated environments provide employees with repeatable opportunities to develop their skills, interact with life-like work scenarios, and learn from mistakes without being exposed to any real-world risks.
Increased Employee Engagement and Retention
VR provides immersive and interactive learning opportunities for employees that are more effective than traditional training methods. This makes it easier for employees to learn critical job skills and prepare for their roles. Well-prepared employees are more engaged, more motivated, and less likely to quit. This has the added benefit of reducing operating costs (see below).
Reduced Operating Costs
The conservative estimated cost of replacing an individual employee can range from 1.5x to 2x the employee’s annual salary. By minimizing employee turnover (through increased employee engagement and retention), companies can also significantly minimize operating costs. VR training is also repeatable and scalable, allowing companies to uniformly train an entire workforce without having to incur per-session costs associated with traditional in-person training (such as instructor costs, employee travel, etc.).
