Transformational Impact of Virtual Office Space on Business Operations
The privilege of ‘Work from Home’ that very few companies offered before March 2020 became an absolute necessity for mere business survival in the months to follow, thanks to the COVID-19 pandemic. As we slowly emerge from the couple of years of gloom, few trends that became deeply entrenched during the pandemic will continue to hold in the future. One of them is the idea of remote work (at least to some extent) and the impact of virtual office space. The following is how virtual office space can help revolutionise your operating model and transform business:
Going Digital – A Necessity
When you adopt a working model that relies on virtual office space, it is essential to undertake a digital transformation exercise of your business. This may seem to be a burden initially, but it is the need of the hour given the times that we live in. More importantly, it offers a plethora of advantages such as digitisation of operational records, access to digitised data for analytics which could help in moving towards a smarter way of functioning, automation of monotonous tasks which can ensure that you need a leaner team which only has to deal with quality tasks that necessitate human discretion, and so on.
Added Work Flexibility
Because you have the option to work from home (and yet avail of all the benefits that you could have while working out of a physical office), you no longer have to necessarily be in office to be doing your work. Virtual Office Space providers offer the services of dedicated landline with call redirection, mailboxes, receptionist, and branded hoarding, and depending on your choice, you also get a desk or cabin in case you need to book it for meetings.
Benefits of being able to hire Remote Teams
Because you do not need to have all your team members under the same roof, you could recruit a team from a global talent pool. All you need to set up is your enterprise technology to facilitate easy coordination. This could allow you to hire the resources with all the necessary skills you are looking for. You may also recruit the services of freelancers and outsource work to locations which offer a cost advantage.
Services not limited by Geography
This follows from the previous point. Once you have moved your business operations on to enterprise technology, you are no longer bound by physical presence. Therefore, just as you can hire globally, you can provide your services to a wider range of clients across the world. Moreover, depending on the need, you can set up virtual offices at multiple locations without having the need to have a full-fledged physical office. This allows you to spread your presence across regions in a very dynamic manner.
Cost Savings
Virtual Office Space delivers a high amount of cost savings on the following counts:
- Savings on office lease rentals. You only rent as much physical space as is genuinely required for business purposes and do not need to incur a high cost on a sprawling office.
- Savings on electricity and IT overheads.
- Leaner staff means a lower wage bill.
- Lesser commuting costs.
Such cost savings combined with the increase in revenue through upscaling of operations can ensure in higher profitability.
The millennial generation is increasingly demanding and therefore, in the near future, business organisations will need to have far more employee-friendly policies in order to retain the best talent. The above points highlight how businesses can benefit from adopting an operating model that relies on virtual office rental, and certainly, we could see a growing number of businesses following this trend.
To find out more about the Impact of Virtual Office space and Virtual Office Rental in Barnet click here.
The original version of this article was published in virtual-office-us.com