5 ways the Metaverse can scale your company internationally
If there’s one fundamental lesson the past two years have vividly taught us, it’s that business has transformed beyond a return to normalcy. Unreliable travel restrictions, frequent disruptions in the supply chain, and the unstoppable rise of remote work have all contributed to a new landscape that is persistent and all-encompassing. While seemingly crippling to industry and entrepreneurship, it doesn’t have to be that way.
Companies in rapid growth must come to terms with the shifting trends and enter new markets with a different mindset – one that embraces smart innovations to solve modern challenges. It’s time to throw out the old playbook and adapt to the digital, post-pandemic world in which technological agility dictates the agenda.
Within that space, no breakthrough promises more opportunities than Extended Reality (XR) and the Metaverse – an industry set to add up to $1.5 trillion to the global economy by 2030.
For the uninitiated, the terms ‘Extended Reality’ and ‘Metaverse’ refer in part to the interfacing of virtual, 3D spaces that have the capacity to mirror our own world. Using XR headsets like the Meta Quest 2, businesses can transport their employees into an interconnected, 3D-rendered version of their desired workplace, whether it be an office setting, an engine room or a creative studio.
This cutting-edge innovation makes it possible for companies to scale their operations with unprecedented ease. If you’re a company looking to grow internationally, here are five ways the Metaverse could enhance your global scaling efforts:
Cuts costs massively on overhead
The physical office is a dying breed, try as we might resist its imminent downfall. Sparked by a mass exodus of workers who went remote during the pandemic, hundreds of office spaces now stand empty in commercial hubs like Manhattan. For a company poised to scale internationally, the operating costs of opening new offices overseas have never yielded a worse return on investment, but what if you still need to find a way to accommodate your global workforce?
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With the Metaverse, you can circumvent travel expenses and the logistical barriers preventing organizations from staying connected. Using XR software, companies can custom-build virtual spaces to their preference and integrate work features that enable lifelike collaboration. This digital solution offers a far cheaper alternative to the overhead costs associated with more old-fashioned means of scaling or sending employees on expensive flights for office visits.
Lets colleagues collaborate oceans apart
For companies embracing the remote work model, the Metaverse offers an untethered place for co-workers to align on projects and get a real sense of connectivity – something which can’t be easily replicated in front of a computer screen. Let’s face it, haven’t we grown tired of Zoom meetings by now?
Need to present a complex object or process in 3D? In the Metaverse, teams can interface as they would in real life and draw on a range of productivity tools like images, videos, documents and 3D objects. Being able to interact with co-workers in an immersive setting fosters employee identity and culture within the organization, which can otherwise be challenging to attain oceans apart, on the phone or in a video meeting.
Makes remote work more human
Much as how the pandemic overhauled the coordination of business, it also reshaped society’s expectations as to what role work should play in our lives. Nearly 4.5 million people in the US voluntarily left their jobs in November last year – merely a ripple in the tectonic shift that has been termed “the Great Resignation”. Increasingly, employers are pressured to recognize the widespread job dissatisfaction and growing demand for remote flexibility that are defining the workplace as we know it.
The Metaverse offers a solution to these mounting tensions by simulating an experience of physical presence from anywhere across the globe. Scrap the arduous commute to work and put on a VR headset for instant immersion – or unplug yourself when it’s time to relax. These digital tools help employees feel more connected with their work and colleagues, giving them a sense of control that fully recognizes their value as humans.
Streamlines international onboarding
With instant access to a virtual copy of your company showroom or production facility, new hires from all over the world can connect to a company’s Corporate Metaverse and receive sophisticated training on demand. Virtual Reality – a component of XR – makes it easier and more affordable to upskill your employees from anywhere in the world, all while significantly reducing the time demands typically involved and the need for travel.
A recent study by PwC concluded that employees learn four times faster in virtual reality than in the classroom and stay more focused due to the lack of distractions in a VR headset, making it a far better alternative to conventional e-learning. This is particularly useful for companies whose headcount is quickly growing internationally, as it provides an effective method of onboarding employees at scale.
Future-proofs for disruptions
Last but not least, transitioning to an Extended Reality platform supplies your business with additional guardrails for unexpected disruptions to the global economy and supply chain. As constant changes in the world unravel and put once-dominant industries out of business, companies of every stripe are made vulnerable to the next looming threat around the corner.
Rather than rely on hope and chance, your XR-competent company can have both the infrastructure and wherewithal to quickly adapt under external pressures. The future is digital and that is why business leaders should start exploring the potential of new technologies that will be instrumental to their continued success.
These are just some of the ways that the Metaverse can tangibly help a business scale and future-proof its operations. Whether your priority is cutting costs, streamlining international collaboration and onboarding, or simply adopting a better solution to remote work and job dissatisfaction, the right tools are available today.