If you’re still skeptical about the presence of VR training in office settings, you should know that this technology has a surprisingly strong return on investment for enterprise users. Here, you’ll find all the information you need about the ROI of VR training and virtual learning. The arrival of accessible enterprise VR has proven to be a significant technological development. Over the past decade or so, businesses have used virtual reality hardware and software to reinvent their approaches to training, meetings, recruiting, and prototyping. Despite this, people unfamiliar with XR technology occasionally dismiss virtual and augmented reality headsets as novelties.
Why Invest in VR Training?
The best way to understand the value of enterprise VR is by considering real-world examples of what can happen when companies adopt this technology. Let’s start with a look at one of the most prominent uses of XR in the workplace—virtual training.
The Expenses of Training Programs
Costs related to equipment and materials are part of establishing any training program, whether your organization has decided to use VR training or it still relies on traditional training methods. But while wanting to save on training expenses is understandable, maximizing your ROI doesn’t just mean choosing the least-expensive training program you can find.
Along with that, it’s wise to consider the effectiveness of your training program. After all, it won’t matter how cheap your training program is to run if it can’t deliver the results you’re looking for. Because of that, you should ensure your training method of choice excels when it comes to retention rates and employee performance.
Finally, any training program will take time to complete—time your employees would have otherwise spent working. While this loss of productivity might seem negligible on the surface, it can add up quicker than you’d expect (especially if your training program is less efficient than it could be).
How VR Training Can Boost Your ROI
Since VR training involves cutting-edge technology, you might assume this training method is prohibitively expensive for all but the biggest corporations. However, that’s not the case. If you find the right partner for VR hardware and software, you can establish a virtual training program at a surprisingly low cost.
That said, no business would spend money switching from traditional training methods to VR-based training if the latter didn’t come with concrete benefits. Fortunately, it does—virtual reality-powered training is associated with a measurable increase in effectiveness. Among other advantages, H&R Block noted a 50-percent decrease in dissatisfied customers after incorporating VR training.
Oculus handtrackingAlong with that, virtual training can have a retention rate of 80 percent one year after training. In contrast, the one-week retention rate for “normal” training is 20 percent.
The increased quality of VR training doesn’t mean it takes more time to complete, either. In fact, the exact opposite is true—one study found that workers finished VR-powered training programs four times faster than in-person training sessions.
When you take all of these factors into account, one thing becomes clear—the ROI of VR training is hard to beat. Because of that, virtual reality equipment is worth the investment for big and small companies alike.
Other Financial Benefits of Enterprise Virtual Reality
While a well-thought-out virtual training program could end up paying for itself, this isn’t the only reason your company should think about investing in VR. Other real-world benefits tied to the use of virtual reality in business settings include:
New Ways to Recruit
The talent market is more competitive than ever these days, and that means your company probably needs to up its recruitment game. Many businesses talk about their offices when they’re trying to attract qualified candidates, but describing a building isn’t nearly as convincing as a guided tour.
In the past, giving potential employees a chance to check out your headquarters without physically visiting your building was impossible. But that’s no longer the case—if you have access to a VR headset, accomplishing this goal is as simple as creating a 3D model of your office space.
Streamlined Product Development
Any business that relies on product development needs a rock-solid prototyping process. Though traditional prototyping has been around for a while, that doesn’t mean it’s still the best option. Because this process relies on creating physical objects, it can take a significant amount of time and generate quite a bit of waste.
The good news is that prototyping is another excellent use case for virtual reality in business. When your prototypes consist of models in a virtual space, you can edit them immediately without creating any garbage. Plus, you’ll still feel like you’re interacting with these prototypes in real life.
More Effective Online Meetings
Online meetings that rely on webcams and computer screens just aren’t as effective as real-world meetings. And even though Zoom and similar programs are still the most popular platforms for virtual meetings, there are other options in this space.
When your organization starts holding VR-based meetings, you and your coworkers will feel like you’re all in the same room—regardless of where you are in real life. Depending on the equipment you’re using, you might even be able to make natural eye contact thanks to the eye-tracking technology used in some advanced headsets. That makes virtual reality an ideal compromise between the convenience of meeting online and the connection provided by in-person meetings.
Invest in VR the Smart Way
By now, you should understand why VR technology can be a solid enterprise investment. But to truly optimize your new VR strategy in terms of ROI, you’ll need to find a partner that’s ready to help you put it all together.
As the XR industry’s top provider of VR training systems, OneBonsai offers VR Training such as a fire training, first aid training, cybersecurity training, and much more. With our low rates and highly effective training products, you’ll be able to get the best return on investment possible. If you’re ready to step into the future, get in touch ASAP!