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As we begin 2023, we ponder how organizations are cultivating an empowered workforce. Many companies are turning to more robust learning and development programs to create more informed and engaged teams. How are companies reimagining the way training is executed, especially in a rapidly changing, working world?
A 2022 PwC US Metaverse Survey revealed a notable 51% of companies have already incorporated extended reality (XR) technologies, such as augmented reality (AR) and virtual reality (VR), into at least one line of business (or are actively working to implement them in the near future).
Additionally, according to XR Association, 92% of 250 surveyed HR professionals recognize the value of XR technologies.
So how do you determine how to equip employees with the most effective learning and development program? Could VR-based training be the answer for your organization?
Last year, we discussed the potential of VR in our Medium article. With XR technologies making significant progression the last few years, here are five reasons to consider integrating VR training into your training program:
- Return on Investment (ROI)
Intel research has uncovered a potential ROI of 300% when companies use VR training. (It also doesn’t hurt that an overwhelming 94% of trainees want more VR-based courses!) With greater adoption of VR training, an organization will likely expend less on costs associated with course facilitation.
2. Faster Learning
According to Unimersiv, VR has the potential to provide efficient learning–a 15-minute experience can have the same effect as a 1.5-hour documentary. Inevitably, immersive training can result in less time spent on learning and may help a company reap great rewards.
3. Higher Information Retention
Edgar Dale’s cone of learning has demonstrated that, after two weeks, people generally recall 10% of what they have read, 20% of what they have heard, and 90% of what they have done. The power of “doing” provides compelling evidence of the transformational outcomes of fully engaging with an activity.
For example, National Training Laboratory’s latest research demonstrated a stark contrast in retention rates between lecture-based and immersive learning, respectively. While lecture-style training had a retention rate of only 5 percent, an astonishing 75 percent retention was reported for VR learning.
4. Increased Engagement
Research has shown employees are not as engaged as they should be during conventional training. On the other hand, participants have consistently displayed a higher level of engagement with VR training compared to that of classroom and e-learning. Studies show a marked improvement of 275% for confidence in acting on what had been learned via immersive learning, as opposed to about 40% from other methods.
5. Higher Empathy
Being able to empathize with others is a vital way to foster positive relationships. In our last Medium article, we explored the importance of workplace empathy and how it can be cultivated. VR training can help us be more attuned to the feelings and perspectives of colleagues. For instance, simulated learning offers individuals a truly captivating experience. Immersivity can completely transport users to another destination, facilitating more memorable experiences.
Conclusion
Regardless of industry, VR offers immense potential. Among other things, it has been proven to be a highly effective method to bolster faster learning and engage employees. Additionally, with greater empathy in the workplace, organizations can witness increased productivity and retention rates.
Will you use VR to empower your workforce in 2023? Reach out to Sisu VR to learn more, or request a VR demo to unveil all the possibilities!
