Over the last few months, there has been a marked increase in the number of remote workers. As per studies, remote working will soon become the new normal. Additionally, companies are focusing on cost-optimisation by reducing or replacing expenses that aren’t necessary. Physical offices involve a lot of expenses which reduce annual profits. A virtual office space is a great alternative that reduces costs while promoting remote working.
What is a virtual office? A virtual office business basically provides you with an office address without physical space. Employees have the option to work remotely while an official address gives clients a sense of reassurance and confidence. Due to the pandemic situation, employees are working from home. Many major companies have provided WFH facilities till 2021. In such cases, paying rent for an office space that you aren’t using is foolish. Opting for a virtual space can help you lower costs during this difficult economic scenario. Here are some benefits of virtual offices:
Probably one of the biggest benefits of a virtual office space is the easy availability of a corporate mailing address. With a virtual office, you get the benefits of an actual office without the physical space. Virtual office solutions provide a mailing address which can be used as the official address for your business. This address can be mentioned on the website, shared with clients and used to receive important documents, mails and other correspondence. Thus, clients get the impression that you are working from a physical office while you do not have to spend a penny extra on office costs!
Every year workers spend over 200 hours commuting to and from work. This is time that could otherwise have been utilised to work on core and profit-generating activities. Virtual office spaces are a great way to save this time. When you opt for a virtual space, your employees no longer need to travel long distances to work. They can work from home or any other place which is convenient for them. This also boosts employee productivity as they can focus on their work without having to worry about travelling.
Global Talent Pool
When you work from a physical office space, you are confined to working with local employees. When it comes to virtual offices, you have access to a talent pool that is worldwide. For instance, if your office is based out of New York but you have important clientele in India, you can easily hire Indian employees who can work virtually from their location. No extra expenses or procedures have to be undertaken to bring these employees to your location.
A virtual office space can be very beneficial for employee productivity and efficacy. Unlike the case of physical offices, in virtual offices employees can work as per their comfort and convenience. For many people, the general 9 to 5 hours do not work. This is especially true for those with familial responsibilities. At a virtual office, employees have the flexibility to work when it suits them, be it morning or evening. This helps in boosting the performance of employees. They can work during the hours when they are most productive.
Last, but not the least, is the high level of cost optimisation that a virtual office business offers. No other workplace model is as cost-effective as virtual offices. By opting to work virtually, companies can avoid the huge overhead expenses related to offices like rent, electricity, water charges and more. In addition, there is no need to provide expensive amenities like coffee machines, food and beverages, housekeeping staff etc. The overall costs are reduced by a large extent. This gives a boost to your profits which you can use for expansion and other purposes.
Virtual offices have become a key player in the office space industry. Considering the wide number of benefits associated with virtual offices, many startup and new business owners are opting to work virtually. We have also noticed a rising trend amongst companies wanting to expand to new locations going for virtual spaces. This is mainly because businesses do not know if the expansion will be successful and a virtual office offers low commitment, as you can leave it whenever you want.
At Rainmakers Workspace, our virtual office solutions can help you get a corporate mailing address at prime locations in Bangalore and Hyderabad. Get in touch with us to know more.