According to Compass Intelligence research, the wearables market will reach $8.5 billion by 2020 and will grow at a compound annual growth rate (CAGR) of a whopping 139%. And a huge portion of that growth will be due to the increasing rate at which employers will be implementing wearable technology in the workplace over the next couple of years. By 2020, it’s projected that there will be around 75 million wearable devices in the workplace.
Wearable technology has been lauded for its ability to increase rates of wellness and productivity in the workplace, and employers are ready to encourage their employees to use it for a variety of reasons. In fact, 37% of respondents of a recent survey highlighted by Insight believe wearable technology should be adopted in the workplace even if there’s no clear-cut increase in efficiency as a result of its implementation.
In addition to the benefits mentioned above, wearable technology in the workplace can also ensure better product training, more immersive training experiences, instant and real-time support and feedback, valuable data and better insights, and better collaborative experiences. Keep reading to learn more.
Top 5 Types of Wearable Devices in the Workplace and Their Uses
Per research highlighted by Insight, here are the top five types of wearable devices organizations are implementing in the workplace:
- Smart watches
- Digital badges and lanyards
- Smart glasses
- Fitness bands
- Smart cameras
Employers are using wearable devices like the ones listed above to track employee health and wellness data so they can cut healthcare costs and have a staff of healthier and more productive employees. They also use them to monitor physical labor in warehouses and factories. And they use them to offer better and higher-quality experiences for employees who must parse through and capture information.
Tips for Wearables in the Workplace
Implement a training budget and strategy. Before implementing wearable technology for training programs, make sure you know what your budget will be and how many units you’ll need. And make sure you know what type of data and experiences the devices you’re using will offer to ensure they coincide with larger organizational objectives, learning objectives, and training goals.
Consider safety and data security. Many employees worry that wearable technology will be intrusive and invade their privacy, and they feel highly uncomfortable that their employer will be able to track their every move to analyze.
Be sure to implement a comprehensive policy for your wearable devices that outlines what types of data you’ll collect, where they will be stored and for how long, and how they will be used. Never spy on your employees and use their own data against them, and be sure your employees know how to safely and appropriately use all devices issued to them.
Stay tuned for tomorrow’s post, which will highlight the pros and cons of wearables in the workplace.