What's the Strategic Value of Virtual Office Space?
Traditional offices finally have a viable competitor, and businesses of all industries and sizes are leading the charge. The virtual office concept is turning the working world on its head by delivering many of the same benefits of an office in a less expensive, more flexible package.
As technology advances and operating costs rise, businesses are looking for ways to cut expenses without sacrifice, and the virtual office is becoming a favorite solution that satisfies both.
What Is a Virtual Office Space?
Simply put, a virtual office space looks like a traditional office on paper, but actually exists in the digital world. You can rent a virtual office space that gives you a physical address, but all work is performed remotely.
It’s designed to allow employees to work from anywhere without limiting their ability to do their job. For example, users can access their company’s CRM or other platforms remotely to complete their work instead of commuting to a physical location.
And given that telecommuting has already risen more than 140% since 2005, this trend is expected to continue well into the next decade.
How Virtual Offices Bring Value to Your Business
From the employee’s perspective, working virtually has revealed major benefits to the work-life balance. The majority of those working remotely report an increase in productivity, job satisfaction, and connectedness. They also claim a decrease in stress levels and mention they like not having to go into an office.
But what’s in it for your business?
Let’s look at a few of the biggest opportunities a virtual office space adds value to your company:
With a virtual office, there’s no building, landscape, or facilities to maintain. You don’t have to invest in a desk and chair for every employee. You’ll never see a utility bill, cleaning bill, or other expenses that can eat into your profits.
Visibility with Privacy
Working from home has its perks, but it can cause privacy issues. For instance, you might not want to put your home address on your business cards or website, and for good reason.
Renting a virtual office space combats this issue by giving you a physical address. This way, you can keep your privacy while adding visibility to your business.
Even though home-based businesses are becoming more common and acceptable, having a non-residential address can help your business look more legitimate. You have a real address without the overhead for a win/win.
Access to Better Talent
When you aren’t limited to where you work, you’re also not limited to where your talent comes from. The virtual office gives you a greater pool of talent since employees can work from anywhere.
Flexible Work Hours
When employees can work from anywhere, they’re not limited to what they can complete during office hours. This makes it easier for them to take care of your customers when it's necessary, not just when your office is open.
Is a Virtual Office Space the Best Option for You?
The value of virtual office space is hard to ignore, but is it the best move for your business?
While it’s not an option for businesses that truly need physical employee presence, the services offered with a virtual office space can be a viable solution for businesses whose technology allows you to work from anywhere. If your business is one of them, a virtual office provides the best alternative to traditional offices that results in a positive ROI in more ways than one.