What’s your Talent Strategy in the Metaverse?   

by Pranav Ramesh
September 01, 2022

As if COVID and the Great Attrition are not enough to deal with, are you prepared for a radical change in the Internet? There’s a label for this transformation. It’s called the Metaverse.   

What is the metaverse’s long-term impact on business transformation and talent strategy? Is it a true game-changer? The truth is we won’t know for sure until users are at critical mass and embedded in the enterprise, but if you are an employer, planning your tech investments and talent strategy to stay ahead of this trend is a wise move. Because:   

  1. Growth is becoming more elusive for large companies.   
  2. Great talent in this sector is scarce.   
  3. Companies are investing in digital transformation and implementing workplace policies centered on remote work collaboration, virtual attendance, and assistance through augmentation.   

 Moreover, the metaverse is not just a set of technologies but a mindset on how the digital and physical worlds interrelate.  

This means identifying—or developing—the best talent pool, making the right moves for long-term value creation, and operationalizing the business model for growth will be a strategic exercise. Your talent strategy cannot be an afterthought.  

Understanding the Metaverse

The Metaverse is admittedly an odd-sounding term for companies to take seriously. First introduced as a sci-fi concept in Neil Stevenson’s 1982 novel Snow Crash, today’s vision of the metaverse is an optimistic, business-forward, idea. A “…continuum of digitally enhanced worlds, realities, and business models”, as Accenture defines it.   

In fact, we are already experiencing a continuum where our physical world is almost entirely dependent on the cyber world. A power outage or cyber-attack could prevent you from accessing bank accounts, buying food, or filling your car with gas. A hacker can wreak havoc on your most sensitive data and sell your identity to the highest bidder. The physical world no longer functions without cyber.   

The metaverse is expected to blur the lines further but whether it becomes the new form factor of the Internet as we know it, or a niche extended reality experience is beside the point. Most of the current online infrastructure is still highly centralized and vulnerable compared to new technologies now available to developers. Security is one of the core drivers, and we are hearing more about verifiable credentials and DIDs (decentralized identifiers) being a requirement for a user-controlled, privacy-protecting, self-sovereign solution for digital identity but metaverse technology is also shaping the ambitions of the world’s leading brands.  

What is Web3?

The term “Web3” was coined by Gavin Woods, Ethereum’s Co-founder. Web3 involves a sandbox of enabling new technologies that also make up the tech stack and building blocks of the brave new metaverse.