How HR Leading In The Metaverse

As the digital landscape continues to evolve, virtual environments like the metaverse are emerging as new spaces for people to interact, work, and even live. As a result, companies are beginning to explore the potential of the metaverse to drive business growth and create new opportunities. In this context, HR has a crucial role to play in leading the organisation's engagement in the metaverse (Tucci, 2022).

 

On a report, according to Gartner, Inc. Gartner (2023), predicts  25% of people will spend at least one hour a day in the metaverse for work, shopping, education, social entertainment by 2026. It’s a hype to transition into new business models that extend digital business. HR of leading organisation needs to enter and to adjust their activities, including virtual events, employee onboarding, career fairs, and meetings focusing the future.

 

What is Metaverse

According to Tucci (2022) The metaverse is described as the inevitable evolution of the internet.


 

Organisation presence in metaverse

In the metaverse, HR leaders need to have skills in virtual collaboration, digital communication, and virtual team management. Several companies have already begun to explore the potential of the metaverse for their business operations. For example, Ernst and Young (2021) has created a virtual office space in the metaverse, allowing employees to work together in a virtual environment.

 

The company has also created a virtual onboarding program for new employees, helping them to acclimate to the virtual environment and feel connected to the organization. Similarly, Tucci (2022) has created a virtual recruiting program, using the metaverse to engage with potential candidates and showcase the organisation's culture and values. These examples demonstrate the potential for HRM in the metaverse to drive employee engagement and build strong organizational culture.

 

Social Exchange Theory

As per Tulane university (2018), Social exchange theory is a concept based on the notion that a relationship between two people is created through a process of cost-benefit analysis


Source: YouTube: Social Exchange Theory


Conclusion: As the metaverse continues to evolve, HR leaders have an important role to play in enabling their organisations to leverage the potential of this new virtual environment. The social exchange theory provides a valuable lens through which to understand the challenges and opportunities of HRM in the metaverse, highlighting the importance of virtual employee engagement and building strong social connections between employees and the organization. As companies continue to explore the potential of the metaverse, HR leaders must be agile and adaptive, considering the unique needs and aspirations of employees in this new virtual environment. (Sharma, 2019).

 

Reference

Armstrong, M. (2012) Human Resource Management Practice, 12th edition, Kogan Page, London, and Philadelphia.

 

Armstrong, M., and Taylor, S. (2014) Armstrong's handbook of human resource management practice. Kogan Page Publishers.

 

Brewster, C., Sparrow, P., and Vernon, G. (2016) International human resource management. Kogan Page Publishers.

 

Ernst and Young. (2021) EY establishes presence in the metaverse with virtual office space. [Online]. Available from: https://www.ey

 

Gartner (2022), 25 percent of people will spend at least one hour in the metaverse.[Online]. Available from: https://www.gartner.com/en/newsroom/press-releases/2022-02-07-gartner-predicts-25-percent-of-people-will-spend-at-least-one-hour-per-day-in-the-metaverse-by-2026 [Access 17 March, 2023]

 

Kramlinger, T. (2017) The role of HR in the virtual world: developing HR competencies to support virtual work arrangements. International Journal of Human Resource Management, 28(22), 3278-3299.

 

Schuler, R. S., Jackson, S. E., and Tarique, I. (2011) Global talent management and global talent challenges: Strategic opportunities for IHRM. Journal of World Business, 46(4), 506-516.

 

Sharma, S. K. (2019) HR in the virtual world: A theoretical perspective. International Journal of Scientific and Research Publications

 

Sparrow, P., Brewster, C., and Chung, C. (2016) Globalizing human resource management. Routledge

 

Tucci, L (2022) What is the metaverse? An explanation and in-depth guide, whatitis.com.[Online].Available from:

https://www.techtarget.com/whatis/feature/The-metaverse-explained-Everything-you-need-to-know [Access on 17 Mar, 2023]

Comments

  1. W.J. Chrishan Fernando.March 19, 2023 at 6:44 PM

    HR directors can help their companies take full advantage of the potential of this new simulated environment as the metaverse continues to grow. A different new design Well done ! brother.

    ReplyDelete
    Replies
    1. Anushka DarshanaMarch 20, 2023 at 11:03 AM

      As companies continue to explore the potential of the Metaverse, as Sharma (2019) states, HR leaders must be agile and adaptive, considering the unique needs and aspirations of employees in the new virtual environment

      Delete
  2. TharangaMarch 31, 2023 at 12:24 PM

    HR can lead the way in the metaverse by embracing new technologies and finding innovative ways to enhance the employee experience. By leveraging the metaverse, organizations can create a more efficient, inclusive, and engaging workplace that can attract and retain top talent. Well done.

    ReplyDelete
  3. Asanka DevagiriApril 22, 2023 at 4:27 PM

    Another interesting article Anushka !
    HR is critical in advising businesses and their management on how to make the most of technology. To ensure good metaverse working practices, they will need to design new working policies and teach leaders how to lead in this new environment.

    According to KPMG specialists on the metaverse, by 2030, we may be spending more time in the metaverse than in real life. This is causing HR to reconsider service delivery in virtual reality, resulting in a total experience for all stakeholders.

    ReplyDelete

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