Given current economic conditions, you have to ask yourself a lot of questions in order to keep your company running. When it comes to business, one of the reasons a lot of companies fail within the first ten years is because of mismanaged funds. Some are unable to keep their costs low. With a ton of expenses and zero ROI, it’s hardly a surprise that a lot of companies crash and burn. Despite that colossal amount of failure, a lot of organizations still make the same mistake. That’s where video calling and conferencing come in.
Reduce Travel Costs
Costs are on a steady rise. With many companies feeling the pinch, it’s only wise to start looking for a slew of cost-effective solutions. A notable example of this is video conferencing technology. Since video conferencing eliminates the need for any member of your team to travel to a designated site just for a meeting, it saves you a ton of travel costs and associated expenses along the way, InfoWorld says. Need to send in your managers to an offsite team to provide much needed training and feedback? In the past, you would have had to worry about providing your staff with accommodations, fare, and food allowance. Add the travel time to mix. If they spend four hours in the air to get to the site or, worse, have to spend eight hours on the road, going from one branch to another, that’s going to amount to a whole lot of lag time. With video conferencing, your managers can easily provide offsite teams with training without having to waste time on traveling to that site or to many others like it. That also means your people are less tired, so they have more energy for the work at hand.
Need to get in touch with your remote teams? Whether they’re in different cities or time zones, a video calling system helps you connect and stay in touch with them easily enough. No need to waste time and money traveling to different sites. Video communication makes it easier to talk to your team on a daily basis, touching bases and ensuring everyone’s on the same page. Constant communication helps keep conflicts and tension at the workplace at bay, which makes your teams more productive. And the more productive they are, the more profitable your bottom line is.
Expand Your Market
You can also use BlueJeans video conferencing for business to help you reach out to clients from all over the world. If you want to try and introduce your products or services to other markets on a global scale, then using video calls to help you get to know your market is a good, solid move. This isn’t just efficient, though. It also cuts down on your marketing costs. Some companies spend millions in advertising dollars just to get their products or services across to the right audience. You won’t have to. With video communication, you can easily expand your consumer base without letting it take a good chunk of your budget.
Lower Hiring Costs
Hiring is another expense. With video conferencing, recruitment teams can streamline their hiring processes to cut down on costs. One of the reasons interviews get held up is because clients and recruiters need to schedule a time that’s convenient for both parties. With video conferencing, applicants can go to an interview, anywhere they happen to be—so long as they find a good spot for it—and recruiters can do the same. Whether they’re both at home, in transit, or somewhere else, those rounds of interviews can happen so much faster. Video also gives recruitment teams much more material to work with. Instead of just relying on resumes, emails, or chats to help them decide if someone’s a fit for the job or not, they can now use video and observe the applicant’s body language to help them make hiring decisions.Technology Advice says 93 percent of communication we do is non-verbal. That easily gets lost through chat or email. With video, hiring teams have a whole new ground to cover.
Lower Attrition Rate
When companies lose good people, they don’t just lose employees. They lose the time, effort, and money that they invested into those employees.That’s going to sting. But by providing work from home opportunities, companies can give employees greater flexibility with their work schedule. That’s a tremendous help. Young parents intent on raising a family or those who simply want more time for their personal lives will find this a welcome move. By providing flexible HR policies to employees, they end up with better-work life balance, which leads to high levels of employee happiness. That’s the kind of environment you want to have. With happy, motivated employees, productivity—and profit—will always be high.
When you think about whether you can afford a video conferencing solution, turn that question on its head and ask yourself: can you afford not to?