Covid-19 has affected the aspect of our social lives to which the workplace is no exception. Before the pandemic, only a fraction of the US workforce worked from home on regular basis, but now, almost 45% of them are telecommuting five days a week.
Experts conjure that this trend will only increase in the future as more and more companies are tailoring the business policies and operations to incorporate the idea of a virtual office. Before diving into the benefits of virtual offices for your business, let us discuss what exactly is a virtual office.
What is Virtual Office
A virtual office is a flexible work environment that incorporates the latest technology to allow employees to work from anywhere. The workers don’t need to come to the office to carry out the routine tasks and they communicate via traditional tools such as emails, telephone, laptops, fax machines, and audio and video conference tools.
Advantages of Virtual Office
Here are the prominent benefits of a virtual office for your business.
- Zero Commute Time
No office means no traveling for the work, making a virtual office environmental-friendly as well as a preferable choice for most employees. Many workers have to spend two to three hours getting ready for work and traveling to and from the workplace. That time is now spent in working, giving more convenience to the employees.
- Boosts Employee Satisfaction and Productivity
Statistics show that virtual offices increase employee satisfaction to a great extent. Saving time and money on commuting and working from anywhere helps them achieve a high work-life balance. Consequently, they are happy and less stressed to work in a relaxing environment (most probably at home) and turn, allowing the managers to get the most of their expertise.
No wonder, most companies who have implemented virtual offices witnessed an increase in employee productivity and job satisfaction. Plus, it also improves the employee retention ratio as satisfied workers are the least likely to quit the job.
- It is Cost-Effective
One of the biggest advantages of a virtual office is reduced expenditure to carry out day-to-day business activities. Reduced costs on rent, electricity and other power bills, office maintenance and repair services, and physical equipment repair and services. That is, you have none of the expenses that come with setting up a brick-and-mortar workplace.
This becomes even more important for local startups who can spend the saved money on promoting and furthering the core objectives.
- Encourages Formal Communications
A virtual workplace promotes formal communication among employees. It ensures a hierarchical flow of communication as well as encourages business-related important conversations. In a traditional office place, a whole lot of time and energy is wasted on gossips and unnecessary informal communication instead of sharing meaningful ideas revolving around the respective jobs.
- Attracts Worldwide Talent
The success of a firm is contingent on the expertise and talent of its employees. Many highly qualified candidates couldn’t join a job that suits their expertise because of commuting issues. A virtual office eliminates travel and time issues and allows all candidates to apply for the vacancy regardless of their location.
It helps the managers attract young and motivated talent from across the globe and achieve the long-term goals of the firm.
This article has walked you through the most prominent benefits of a virtual office. If wisely implemented, this latest business venture can bring your firm to new heights.