VR copy

Goldman Sachs predicts that the education VR market is currently worth $0.7 billion. Serious Games Institute conducted a recent study that predicted that the global VR market will be valued at $33.9 billion by 2022 with a CAGR of 57.84% between 2016 and 2022.

Virtual Reality (VR) deals with computer technologies that create realistic images and sensation replicating the real environment. It is an interactive and immersive experience generated by computer software. VR has been around for some time, mostly in the form of simulators. Recently, the drop in virtual learning cost has opened it up for more industries.

Why use VR for corporate learning?
Virtual learning is not a fad; it’s here to stay, and you can reap rich benefits from it. VR headsets like the HTC Vive, Oculus Rift, and others can be synced with mobile devices, which makes it easier for the learning and development department to include the VR experience in their training strategy.

In industries that deal with physically dangerous jobs, VR is a boon. For example, imagine a new pilot trying to learn and enhance his flight skills on a real aircraft. It is just not safe enough! But, when he has a flight simulator at his disposal, he can experiment and practice his skills in a safe space. Whatever mistakes he makes will not cause any real damage to life and property. He can crash his plane as many times he wants without being penalized. VR technologies can nullify the risks.

Corporate VR learning is immersive and transports the learners to a different world. It makes learning fun and interactive. When learners enjoy learning, they retain the knowledge better and are able to recall information when required in their daily job role. Learning by doing has far better results than learning by seeing or listening. VR experiences encourage the learners to process information by applying their knowledge in an environment as close to real life as you can get!

Since VR learning courses are experienced virtually, it saves a lot of time and money for the organization and its employees since they do not need to attend training physically. They need not block out time from their regular work to attend any face-to-face training. They can access their learning when they need to without having to adhere to time zones. They can practice at their own pace. Also, there is a substantial cost-saving associated with remote learning. The initial investment may be high but in the long run, you save a lot of money on the cost of venue and equipment for in person training. You save on stationery costs and you also save the environment.

In the virtual corporate learning space, there are three specific segments that will emerge.
  1. A blend of customized and off-the-shelf learning for high risk environments.
  2. A mixture of ready to use courses and bespoke offerings in the leadership and communication skill segments
  3. Specific customized learning modules in sophisticated skills.

    1. Our realistic custom Training Simulations are the perfect way to immerse learners and teach skilled procedures that are dangerous or costly to perform. Learners can practice in a safe environment and gain confidence without the fear of substantial consequences. We create each custom Training Simulation to emulate the exact scenario or situation the learners would experience in the real world. Offering 3D or 2D simulations will give you a substantial advantage in engaging and educating your learners. Improve your employees’ performance in the field with our effective Training Simulations! Contact us today to obtain a free quote for your custom Training Sim.

      Benefits

      Realistic environment

      When you hear the words “training session” you probably envision employees sitting in a room together in front of a computer screen or a television. Information is relayed, but there’s no representation of what learners could face in the course of their work. VR allows employees to put on a headset and get a realistic feel for what an actual day on the job would entail.

      It’s as close as you can get to real-life scenarios.

      Freedom to fail
      There are some scenarios that just can’t be adequately recreated in a traditional training situation. In a virtual reality scenario, you have the freedom to fail and mistakes don’t result in lost revenue or any other ill effects to the company. Instead, learners can look at the mistakes they’ve made, figure out what went wrong, and determine how to keep it from happening again.

      Learner engagement
      Boring. Useless. Waste of time. These are all words you may hear to describe the average training session that employees have to endure. But they don’t have to be the defining characteristics of corporate education. As soon as someone enters a VR scenario, the real world around them disappears and they’re immersed in the virtual world. Learners aren’t as susceptible to interruptions and they are fully engaged in the scene before them. Virtual reality also has enough of a game-like feel to be fun to participate in, too.

      Retention rates
      The more engaged a learner is in the material, the more they’ll retain the information.

      It doesn’t matter how important the information is if the employee can’t remember it.

      The virtual reality experience helps a person to be so involved in what’s happening around them that they’re better able to remember the right actions to take and to respond appropriately in an actual scenario.

      Pace of learning
      It’s well-known that learning by doing is the most effective method of education. Doing a task repeatedly is the way to gain mastery.

      A virtual reality learning experience can speed up this process in a couple ways:
      • The increased engagement and retention
      • Learners can go through the processes as many times as necessary before they have to do it in a real-world work situation.

      The quicker an employee learns to do their job well, the better it is for the company as a whole.

      Employee performance
      The result of increased engagement, better retention, and learning more quickly is a higher level of employee performance. Not only do employees have a better understanding of what they’re doing, they also gain the confidence that pushes them to do their job at the highest level.

      Cost reduction
      Most companies have a limited budget for training purposes. Traditional training methods often use consumable materials that have to be replaced for each session, but virtual reality is a one-time cost for your company.

      Here are two additional ways money is saved as a result of the use of VR for training.
      • Damaging expensive equipment. Many industries use equipment that is very pricey and a company can’t afford to take a chance on it being damaged during training exercises. In addition, sometimes more people need to be trained than there are machines to use. Virtual reality allows any number of employees to be trained at one time, with no damage to costly equipment or machinery.
      • Travel expenses. As was already mentioned, interviewing distant candidates is achievable when you can make use of virtual reality. In addition, bringing the employees of a large, worldwide company together for training can get very expensive. The costs for a smaller company can add up quickly when plane travel and room and board are calculated. VR training eliminates the need to bring everyone together physically.


      Collaboration
      Effective training isn’t a solo experience. Watching videos or reading a manual won’t give anyone insight into how to interact with others in the course of doing their job. VR simulations can be tailored to include any level of collaboration necessary to make a learner comfortable working with others.

      Working on projects with a coworker in another branch or who works remotely is simple when it can be done with better technology than simple screen-sharing.

      Streamlined onboarding
      Training new employees is vital to the productivity and success of your company. A fresh hire is much more likely to stay for the long-haul when they have received comprehensive preparation for the job they are expected to do. The sooner they’re fully integrated into the company, the sooner they can begin contributing to productivity.

      Analytics Most corporate training programs only give enough information to let you know if an employee has completed a reading assignment or has watched a video. Not very helpful data when what you really want to know is how effective the training has been.

      VR training can track a whole host of information, such as:
      • How long it took an individual to finish a task.
      • The actions they take during a simulated experience.
      • If a task was completed in accordance with desired standards.

      This data can help managers assess what areas a particular person needs more intensive training in, as well as help them make decisions for the future.

      The capability to record employees as they interact with a virtual environment can be a valuable tool for employers. Physical reactions and body language can provide a wealth of information about a person.

      Combine learning styles
      There are three types of learners: visual, auditory, and kinesthetic. Virtual reality training is so effective because it successfully blends these three types of learning styles. Merging visual elements with sound and movement is the best method for retaining new information and being able to recall it in order to use it in a real scenario.

      With all these benefits, it is easy to see why corporate learning is implementing VR training strategies. Contact Lux Point LLP today and take advantage of all the ways virtual reality can improve your company’s training.

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