A CareerBuilder survey confirms that employees who get on-the-job training are 35% more probable to stay loyal to a company. The notion is clear; when an employee’s skills are productively utilized ‘and’ enhanced, they won’t exit. Training for a corporate employee is more imperative than one may perceive it.
In the middle east, vocational and technical education is an important training requisite given that the region is industry driven. Remote learning through Virtual Reality is the solution to markets that cannot make classrooms available. Since the middle east market is shifting from being an oil-based economy to the industry and job-oriented economy, this calls for efficient labor trained to meet the vision for coming years. Virtual Reality in Real estate, Mining, and Healthcare, and so forth help in cultivating professionalism and impart confidence to the employees.
- The market size for IT in the region is expected to reach $155.8 billion in 2017, as per the Gartner, Inc.
The Arab values of loyalty, persistence, and hard work can be ingrained in the employees when they dedicate themselves to their career. This can only happen through the due and diligent support of the company where individual needs are respected and their skills are groomed.
Improvement in performance of an employee may not skyrocket a company’s revenue, but it fosters a growth-oriented work atmosphere. While outlining the firm’s vision for increased ROI, it is vital to incorporate employee interests.
Training the employees helps them deliver better results and overcome their insecurities. On the other hand, it is a widely accepted fact that many trainings turn unproductive when not engaging. The information presented in visual form is better received by the right side, often attributed as the creative side, of our brain. Hence, the enthusiasm for Virtual Reality for training & development.
- The education VR market is expected to be worth $0.7 billion by Goldman Sachs
Virtual Reality in Corporate Training allows freedom to create a personalized visual content for every employee, basis their individual areas of improvements. Rather than shifting the employee interests to the backburner, companies can transmute workplace into a market-leading workplace with an optimal use of the technology.
- The Virtual Training and Simulation Market is expected to reap benefits worth $329 billion by 2022.
VR in corporate training makes it easy to comprehend data, analyze it, and make it hands-free. In industries, the technology enables the users to access machines in a virtual world, improve their learning curve, and gain confidence. This gives them a safe option of making mistakes, experimenting, and the most important aspect – learning. Virtual reality empowers the companies and the recruits with audacity. Once they are highly trained for operation, they can put their learnings to use and make guidelines for themselves. This saves the company from untoward chances of damage to manpower and/or expensive resources.
The prowess of VR to add actuality to a training session escalates the retention rate, turning a passive learning experience to an active one. The technology enables Visual, Kinaesthetic and Auditory benefits.
Visual – Pictures that help the trainee relate to the figures
Kinaesthetic – Activities that help the learner engage and ‘learn by doing’
Audio – Listening to the sessions to improve their agility and foster attentiveness
Virtual Reality in corporate training solves problems where trainees and trainers are distanced by location. For bigger firms offering franchise and having branches in discrete locations, Virtual Reality is the solution to uniform training throughout.
Dr. Michael Gerards, co-founder of the First German Association for Virtual Reality is a known name who specializes in multimedia services, software, and consultancy. He has led developmental projects in the field of digital markets where his team has trained 3,500 persons into Virtual Reality via workshops and events. Gerards realizes the importance of business development and employee retention.
Many people posit Virtual Reality is a replacement to e-learning, manual training, or other methods of employee development. Dr. Sana Farid from Munfarid Consulting, a Virtual Reality solutions company elucidates, “The technology reduces manual task and improves the quality of training. It will not supersede or overshadow other forms of training, but catalyze them. It is a positive change to welcome.”
Penetration of the technology in corporate has intensified with automobile companies like Ford, BMW, Audi, pharmaceuticals like Apotek Hjärtat, networking website Facebook, and tech giant Google using it. Various other companies – Sony, HTC, NVIDIA, New York Times, Live Nation seem to realize the potential in the innovation. Other sectors of energy, construction, healthcare, hospitality use Virtual Reality for training in safe environments and with extensive resources, not always available in the real world.
- As per the Grand View research, the Virtual Reality healthcare market size was evaluated at USD 568.7 million in 2016
- In 2016, sale of 2.5 million VR headsets and 10 million game copies were expected by Deloitte