Cost Savings of Video Conferencing

Feb 23

Employers are always looking for ways to save money. While they might turn to typical changes such as printing less, they might not realize of the the biggest cost savings is right under their nose. Many companies are finding that switching to video conferencing and teleworking has saved not hundreds but thousands of dollars.

Lower Office Cost

Several businesses have found significant cost savings from remote or hybrid positions. Global Workplace Analytics has estimated that businesses can save $11,000 per hybrid employee from lower cost of office space, lower supply needs, increase in productivity, and less of a turn over rate.

They found it increases productivity by 15%, reduces office space by 25%, reduces absences by 31%, and reduces voluntary turn over by 10%.

This also helps eliminate need for flying in out of state partners, employees, and customers. You still get the sentiment of a face to face meeting but at a lower cost and timespan.

Happier Employees and Less Turn Over Rate

Owl Labs found that Eighty-three percent of survey respondents “agree that the ability to work remotely would make them happier. The same stuff found that 13% of hybrid or remote employees reported they would be willing to stay 5 or more years at their current location because of the ability to work remote.

The Huffington post reported that turnover rates can cost a company 1.5-2x the employees salary. When your employees are happy in their workplace, companies can avoid these costs as well as additional in person charges.

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If you are ready to have reliable and safe video conferencing and a phone with so many solutions, call our office today to get a free quote. Get local support, a reliable platform, and peace of mind from a company you know has your back.

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