Before the term “COVID-19” entered the vocabulary, a video conferencing solution was largely viewed as a nice-to-have. But now, as we shift into the post-pandemic world that is dominated by remote working, a video conferencing solution is no longer optional. It is essential for ALL businesses, including mid-sized firms and SMBs that aim to thrive in the new normal. The video conferencing market increased by 500% in the first two months of the pandemic. The overall size of the video conferencing market is expected to surpass a whopping $50 billion by 2026.
Below, we highlight 7 undeniable reasons why your business needs a video conferencing solution:
#1: A Video Conferencing Solution Improves Productivity
Nearly 4 in 5 workers think that a video conferencing solution keeps them as productive, or more, than in-person meetings. What’s more, it is much easier to ensure full attendance when participants connect through video vs. require that they attend in person.
#2: A Video Conferencing Solution Improves Collaboration & Engagement
Brainstorming, problem-solving, and other collaborative activities can be far easier — and more successful — through video than audio. Commented the CTO of Magellan Health in an interview with Forbes: “Video conferencing is a real game-changer — and should be the default setting. The entire feel and etiquette of the meeting changes. Participants can see and be seen. Any sense of distance is removed. There’s no longer any semblance of `out of sight, out of mind,’. Participants are less apt to zone out or multitask, as they might on an audioconference, and instead maintain virtual eye contact. The result are superior levels of closeness and engagement.”
#3: It Improves Retention
The “Turnover Tsunami” is upon us, as millions of people who were reluctant to quit their jobs during the worst of the pandemic are now handing in their resignation notice — or some sectors like retail and hospitality, simply not showing up at all. As noted above, a video conferencing solution establishes superior levels of closeness and engagement. This can make the difference between retaining vs. losing key people. The primary reason that most people leave a job is not that they want to make more money, but because they want to feel a deeper sense of belonging. This is both in cohesion with their colleagues and organization.
#4: It Expands the Labor Pool
Trying to find experienced, knowledgeable and skilled talent locally can be difficult. This is especially when it comes to highly-specialized roles that require advanced certifications (e.g. IT, healthcare, etc.). A video conferencing solution enables organizations to recruit remote workers beyond the local labor market. Furthermore, orientation and training sessions can be recorded. This allows new hires to re-watch/refer to them as needed — which is highly efficient for everyone involved.
#5: A Video Conferencing Solution Reduces Travel Costs
The average cost of a single business trip has climbed to $1,286. And this does not include the cost of lost productivity. For example, consider an employee named Bob who must travel for three days to connect with colleagues in another state. During this period, there will be situations where Bob either won’t be productive at all (e.g. waiting in a plane on the tarmac and unable to use his laptop), or his productivity will be far less than if he was in the office (e.g. reading emails on his smartphone while standing in line for a cab at the airport). However, during these no/low productivity periods, Bob still earns his full salary. This of course is fair, since it’s not his fault that he cannot be more productive. It’s just the nature of business travel.
Now, imagine that Bob can use a video conferencing solution to connect at various times throughout the three days. As soon as each meeting is over, he can resume being 100% productive. This is not only a benefit for Bob’s employer, but it is also a win for him. It means that he doesn’t have to deal with a huge backlog of tasks. The thing that many people hate most about business travel is not flight delays or uncomfortable hotel beds. It is coming back to work and spending the next week (or longer!) to get caught up.
#6: A Video Conferencing Solution Increases Business Agility
The pandemic revealed with staggering clarity that anything can happen — and organizations need to be able to adapt on-the-fly. A video conferencing solution keeps workers connected if they are obliged to stay at home. And while we all need to be positive and focus on solutions, there is the possibility that we will see more lockdowns in the months and perhaps years ahead.
#7: A Video Conferencing Solution Reduces Presenteeism
Presenteeism is when employees who are not feeling well go into work anyway. This is because they want to stay productive and “in the loop”. Unfortunately, these well-intentioned employees can do much more harm than good if they make colleagues — and even customers — ill. A video conferencing solution lets the employee stay at home, but remain productive if they are well enough to work.
The Bottom Line
A video conferencing solution is no longer optional — it is essential. And so, the next question is where do you find a solution that is flexible, easy-to-use, and highly affordable? The answer is clear: Carolina Digital Phone! Key features of our very popular video conferencing solution include:
- Record meetings & download from the cloud
- Customizable layout
- Meeting rooms
- Screen sharing
- One-click join
- Calendar
- Chat
- And much more
Plus, there is no application download required. Prices start at just $8 per hosting user with up to 25 participants . There are other affordable plans are available for organizations that need additional capacity.
Request a free, no-obligation live guided demo today by calling (336) 544-4000. We can deliver your demo in person at your location, or over the web.