How Metaverse shapes the future of work

Hybrid/remote working has been the most discussed topic in the business world in 2021, especially in the HR space. The acceleration for a digital and wider business transformation due to COVID-19, has created the need to redefine and re-engineer working spaces and challenge the status-quo. While organisations seem to have adapted to this hybrid way of working, the introduction of metaverse unveils a potential for a whole new workspace transformation.

What is metaverse and what it means for organisations   

Metaverse (in a very simplified definition), refers to a digitalised social space where users-avatars can connect, collaborate and interact, creating a whole new virtual experience. For business, the question of course is: What role will metaverse play in organisations and how does that impact the workplace we know today and our people? Looking at it from Leadership's angle, one must first acknowledge the organisational foundations that are required to support these platforms and how that impacts the existing operating model and people, to deliver value. For organisations, this means disruption!

From an HR perspective, metaverse is probably a gamechanger. Think of all the core HR functions and their practical application in the business. An organisational disruption means that HR needs to redefine its practices to accommodate and enable the organisation to adapt, be sustainable and prosper. Practically, this means managing the change, upskilling people, creating new roles to meet new needs and preparing the future of work. How long before HR needs a “Metaverse Architect” to coherently build this new ecosystem with the various digital platforms and a “Metaverse Data Analyst” to collect and analyse people's insights in the Metaverse? Least to mention the recruitment initiatives for organisations and conducting interviews in their virtual meeting room or in a virtual park nearby. The list can go on with redefining internal processes and procedures, revising the data protection policies, aligning HR systems and many more. It has been a cliche statement but this time, HR might really need to rethink and redefine pretty much everything! 

What's next

The early adopters are of course gaming giants and wider technology organisations. Yet, the speed in which technological advancements are happening are unpredictable and adoption could be made at a faster pace than expected. Metaverse has already entered the market and it could just might be a matter of time before it is labelled as business as usual. Certainly, no one really knows the exact direction and impact of Metaverse in organisations at the moment, yet it seems that we might be on the verge of a new and very different workspace from what we know today. If in doubt, be reminded that the future of the Internet was in doubt, the use of smartphones was in doubt and the need for digital transformation was in doubt. What seems not to be in doubt is that exciting times are ahead, with major challenges and opportunities. 

People & Business Transformation

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PwC Cyprus