Resisting change is part of the fabric that makes us human. Whether it’s moving to a new office, trying something new for lunch, or even the way we’re taught new information – there’s always a risk of raising eyebrows.
But change is the door to progression. So to get decision-makers on board with ditching the old for the new, it’s important to justify your stance with a strong business case.
After all, a business case solidifies an idea. It takes your strategic vision and turns it into a tangible roadmap to enhance the efficiency of your organisation.
It provides purpose, direction, and gives your stakeholders a foothold in an area of technology that may be completely new to them.
And, when put together correctly, it should clearly show how the technology is implemented with clear indication of how it can improve the overall performance of your organisation.
So, how do you justify the implementation of virtual reality with a business case? Grab your notepad because we’re about to reveal all.
Business adoption for VR
With the relentless rate of VR integration over the past decade, it’s impossible to ignore its role in modern-day businesses.
In fact, even with the world standing still at the hands of a pandemic, VR revenues are still set to surpass $12 billion by 2024. And, as well as being labelled as a vital tool in the post-pandemic recovery stage, VR has unlocked the door to more business opportunities by creating new customer experiences and speeding up product development.
According to a ‘Seeing Is Believing’ report released by PwC, 824,634 jobs have been enhanced globally through the use of VR, with a boost to GDP currently at $46.4 billion.
The report also states that VR has the potential to bring net economical benefits of $1.5 trillion (with a ‘T’) to the global economy by 2030. That’s a serious amount of money and goes to show the way the future is shaping up.
Perhaps the real question for business owners isn’t if they’re going to implement virtual reality, but instead when they intend to invest in the technology.
Business transformation through VR – gaining stakeholder acceptance
Unlike training in situ with the ever-present risk of injury, virtual reality provides learners with a safe environment conducive to learning.
In fact, according to a study conducted by the US Learning and Development Innovation team at PwC, it’s been proven that virtual reality is responsible for:
- 275% more confident to act on what they learned after training
- 4 x faster than classroom training on average
- 4 x more focused than e-learners
- 75 x more emotionally connected to content than classroom learners
These numbers are due to the immersive experience waiting for learners inside a headset.
Devoid of distractions, they can dive into a sensory environment where they feel confident to apply new skills without the risk of harm, failure or embarrassment.
Furthermore, as well as saving learners time traveling to designated training centres, virtual reality also saves an organisation money by retiring the need to hire designated training centres in the first place.
Who can use VR in an organisation?
Literally, anyone. From health care assistants and machinery operatives to hospitality workers and surgeons, VR serves a purpose in any industry that requires professional development.
As we mentioned in our introduction, you may experience resistance to change with some learners – especially those who have seen success in a traditional setting.
Our advice? Let technology do the talking by inviting colleagues to road test VR for themselves.
Measuring ROI from VR
To make purchases more appealing to stakeholders and decision-makers, you may need to prove the return on investment.
It’s not an easy calculation, but you need to factor in metrics such as training time, travel time, costs and the number of employees who can access virtual reality.
ROI is typically measured by time, so – while your stakeholders may initially demonstrate a reluctance to invest in VR technology – it’s worth underlining the greater return over a longer period.
Overall, the most important calculation to make is how efficient your organisation will become by opting for virtual learning over traditional methods.
For some organisations, the question might not be whether you need VR, but whether you’re ready to adopt it.
Where some businesses might not have a designated project manager to oversee integration, we recommended delegating roles to a makeshift support team to promote and motivate the use of VR across the organisation.
As part of its integration, you may also need to introduce case studies, live demonstrations and explainer videos.
Of course, you could always hand a colleague a headset and let them see what the fuss is about for themselves.
Taking the time to prepare a business case for VR can make all the difference with stakeholders investing in the future or holding onto traditional methods.
When written correctly, a business case should outline the benefits of your idea as well as contextualising the value the project will bring to the organisation.
As part of a business case, it is also common practice to issue a ‘benefits review plan’ which outlines the benefits to be measured, what data will be recorded to measure progress and who is responsible for the progression of each area.
Provided your business case ticks all the boxes, it will be hard for your stakeholders to deny the overwhelming benefits of investing in virtual reality.
Are you ready to implement virtual reality into your organisational training programme? Fill in our quick and easy contact form and we’ll get straight back to you.