Augmented Reality (AR) and Virtual Reality (VR) technologies are revolutionizing the business world. In recent years, AR and VR have become increasingly popular, with widespread use in numerous industries. These technologies have the potential to disrupt the business landscape, change how people work, and provide unique business opportunities. AR and VR are expected to have a significant impact on executive search by enabling the delivery of in-depth candidate insights and facilitating remote interviews with global talent. This essay will explore the possibilities and implications of AR and VR technologies for business and executive search.

AR and VR Technologies

AR and VR are technology-based systems that create simulated environments. AR overlays digital information onto reality, providing an enhanced version of the real world. In contrast, VR creates an entirely artificial experience that can be immersive and interactive. Both technologies offer new ways for businesses to communicate and interact with their target audience.

Business Opportunities

AR and VR technologies have numerous business applications. The ability to create interactive and immersive experiences can help businesses to engage with their customers and enhance brand loyalty. Retail companies have already begun to use AR to help customers virtually try out clothing and for home furnishing, allowing them to envision items in their space. Companies can also use these technologies to train employees, thereby reducing costs and improving productivity.

In executive search, AR and VR can be utilized in various ways to improve hiring processes, such as virtual interviews. These technologies can enable businesses to engage with talent from across the globe easily. AR and VR can improve selection techniques by providing access to detailed insights into candidate performance, capabilities, and experience. Additionally, it provides candidate assessment beyond the traditional paper application or online CVs. AR and VR can provide recruiters the opportunity of better candidate fitment for specific cultures, hiring teams and business needs.

Moreover, AR and VR can help organizations attract the best talent. Potential employees are more likely to accept a role if they feel connected and engaged with the company’s culture. AR and VR technologies can create a realistic and engaging portrayal of the working environment, helping potential candidates understand what it is like to work at a particular company. By providing insight on company values, work style, and leadership teams, AR and VR can help businesses attract candidates that better align with their values.

Impact on the Executive Search Business

AR and VR technologies are disruptive and can transform the executive search sector. The real-time data feedback and candidate insights that AR and VR offers are of immeasurable benefit to those looking to recruit the best talents. This advantage is not limited to companies that make use of the technology. Recruiters can learn a lot about candidates from how they interact with systems during an AR/VR interview. This offers a unique interview experience that can provide valuable insights into a candidate’s mindset and how they handle complex and challenging situations.

AR and VR are cost-effective technologies that can reduce the overall cost of the search process, making it more accessible to organizations of all sizes. Additionally, they provide flexibility for remote working; thus, the technology is essential for companies looking to increase flexibility and reduce costs through remote interviewing.

However, the emergence of AR and VR technologies will require significant investment in training and skill development, specifically for recruiters. Recruiters need to be trained and equipped with the skills necessary to use AR and VR technologies competently and effectively. Additionally, the use of AR and VR in executive search may require a re-alignment of company and recruiter values towards a more technological focus to benefit from employing the technology effectively.

Conclusion

AR and VR technologies represent a new frontier for businesses spanning many industries. Both of them offer business opportunities and superior insights into the search for candidates. The recruitment process is evolving and the implementation of AR and VR technologies can improve the journey significantly. AR and VR technologies have undeniably opened up new possibilities for remote interview processes and hiring techniques, facilitating access to global talent and enabling effective virtual access to the best talents at affordable costs. However, the success of AR/VR technologies in executive search highly depends on realigning certain values and investments in the necessary training for recruiters. Therefore, organizations must understand the potential of AR and VR technologies and invest appropriately to reap the benefits of modern, cutting-edge recruitment processes.

Article by:
Morten Tange – INAC Denmark
Mariana Turanova – INAC Slovakia
Géraldine de Spéville  – INAC France
Kirsten Parus – INAC USA