Metaverse can bridge gap between physical & virtual offices

Mumbai: Metaverse could bridge the gap between physical and virtual offices. Moreover, the wearables like smartwatches can have multiple use cases in human resource (HR) technology, says a study.

The Metaverse is perhaps one of the most discussed terms and a buzzword today. Managing the workforce efficiently can become challenging, especially with today's remote working scenario. At such a juncture, the Metaverse is the perfect solution for HR managers since it has the potential to expand what hybrid work is known as today. Employees can leverage AR & VR to collaborate efficiently and engage more authentically from remote settings.

Similarly, employees can punch their attendance with just a tap on their watch, and the geo-location tracking can verify its validity, avoiding touching traditional biometric devices that are prone to contamination.

Talking to Bizz Buzz, Sumit Sabharwal, CEO, TeamLease HR Tech says: "Many organisations risked their goodwill and brand image when they had to lay off their employees in 2022. They've now understood the importance of accuracy in their workforce forecasting. I think, in2023, more and more employers will prefer data-driven decision-making in their hiring process." As a result, we'll see accelerated adoption of machine learning HR tech to calculate the optimum number of required employees for sustainable growth. It'll save employers from over or under-hiring, he said.

The smartwatches also contain valuable health-related information such as average heart rate, blood pressure, SPO2, sleep quality, and physical movement. If used correctly, such data points can quantify employee well-being. AI can further assist in using the same data points for understanding employee engagement at the workplace.

We might soon witness companies leveraging smartwatches to deliver best-in-class employee experiences while also improving health and wellness awareness among the workers, says the finding by TeanLease HR Tech.

Our ability to generate and capture data has increased exponentially in the past few years. Today's businesses make data-driven decisions that are far more accurate than the intuition-driven trial and error method. HR tech has made it possible to do the same with human capital management as well.

The SaaS platforms like zero-touch applicant tracking and one-touch payroll, along with advanced analytics, will play a pivotal role in analysing HR productivity. With remote and hybrid working models likely to prevail for the foreseeable future, People Analytics will play a prominent role in performance measurement, workforce planning and management, analysing employee engagement, promoting employee development, making promotion and salary decisions, and every other aspect that can be improved with data while maintaining optimum work-life balance.

As cutting-edge technologies and automation take centre stage, regulatory compliance won't be unaffected. With the help of tech, more and more compliance activities will be automated, making processes more cost, time, and resource efficient. Besides, the report expects this to become an intrinsic part of HR Technology in the coming months and years, giving a seamless, unified experience to businesses.