Using metaverse in the workplace and marketplace: its impact on the psychological contract of employees and customers

Purpose Despite growing research on metaverse, the way this is associated with psychological contracts in business is virtually absent. In this paper, we aim to provide a conceptual exploration of this association between metaverse and the psychological contracts of both employees and customers. Design/methodology/approach This is a conceptual article that examines the implications of metaverse as a workplace and marketplace on frontline employees’ and customers’ psychological contracts. In doing so, we develop a conceptual model and make propositions, while we also offer recent examples of firms that have moved to metaverse. Findings Although we do not provide empirical results, we indicate through a set of propositions how changes in the workplace and marketplace caused by the firm’s use of metaverse influence the psychological contract of its employees and customers, as well as how these are interrelated. We further explain that the accomplishment of these psychological contracts in a metaverse context can favorably affect business performance. Practical implications Companies need to anticipate, monitor and adjust to the changing pattern of psychological contracts of both employees and customers as they move to metaverse because this will have serious implications on their business performance. Originality/value We introduce metaverse, a recently introduced phenomenon that is gaining momentum in the business world, causing significant changes in the workplace and marketplace and seriously affecting the nature of psychological contracts of both employees and customers.