Why More Businesses Are Choosing to Go Virtual

COVID-19 may have thrust remote working into the spotlight, but it’s not an entirely new phenomenon. In fact, the idea of working with a team that isn’t in your location has been around since the late 1990s. However, in recent years, the pace has quickened. More businesses are going virtual in more ways than one, and some are noticing some profound benefits.

Save Money

One of the most obvious benefits of going virtual is the massive monetary savings that could be headed your way. If your entire team is based in their own homes, you don’t have to pay rent on an office or spend hundreds of dollars on internet services, telephones, computers, and utilities.

Even the virtual workers can save money, as they don’t have to spend money on a car or public transport to get to work. Nor do they have to invest in work attire or costly lunches when they forget to pack their own.

Increase Productivity

Surprisingly, studies are starting to show that remote workers can be far more productive than those who work in an office environment. With the flexibility to work your own hours, you can choose the times of the day that align with when you are most focused. Increased productivity is one of the benefits of hiring a virtual CFO. When you’ve got an entity or individual handling your business’s financial requirements, you can free up your precious time for other tasks.

Improved Work-Life Balance

When you work a nine-to-five gig, achieving a work-life balance can be difficult. You can spend hours in traffic each week just getting to and from your job, not to mention the 40+ hours within it. Working from home offers an opportunity for improvement. You can work the hours that align with your business needs but then have plenty of free time for hobbies, sports, friends, and family.

Better Training Methods

If you work in an industry that doesn’t allow for remote working, it doesn’t mean you can’t welcome virtual elements to your line of work. Virtual reality is taking the market by storm, particularly as a cost-effective training tool. Businesses that use VR for training purposes can show employees real-life scenarios of how things work before throwing them into the real world. This training method can prove particularly useful in industries with minimal room for error, such as healthcare and space.

More Suitable Job Candidates

Depending on where you live, there can be a limited pool of talent for the jobs you are advertising. Rather than settle for someone who may not be suitable, advertise country-wide or worldwide. Without the need to work in an office in a select area, you’re able to access some of the best talent in the world.

Technology is continuously evolving, and even the smallest businesses can benefit from going virtual. From saving money to being able to access some of the best people for the job in any location, why not try it? Some surprising benefits may await you. 

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