The benefits of video conferencing today are too big to ignore. The 2019 Impact of Video Report revealed that 78% of business professionals are already using video conferencing for meetings, and the market for this technology is predicted to hit $4.48 billion by 2023.
In fact, with the faster speeds and lower latency expected with 5G, in the near future, video conferencing will be an even more seamless, immersive experience for users.
While we still may be waiting to stream augmented reality to mobile devices during work presentations, there are compelling reasons why the majority of businesses are already using video conferencing. Let’s take a look at the benefits to understand why video conferencing is playing such a pivotal role in the way people work today.
1. Video Conferencing Keeps Remote Teams Connected
One of the most profound benefits of video conferencing is how it makes remote work not only possible, but efficient. This isn’t just a useful and cost-effective way to hold meetings – it’s changing the way we work.
In the past decade, the number of workers who telecommute has increased by 115 percent. With video conferencing, remote workers can connect better both with their co-workers and with work processes. A study by Gigaom found that 87 percent of remote users feel connected to their team and their work because of video conferencing.
2. Video Makes the Hiring Process More Efficient
Instead of having to fly a candidate across the country for an interview, video conferencing can save companies a lot of money when it comes to recruiting. Using video during the hiring process also makes it easier for candidates who don’t have to set aside a day or more of travel time just to have an hour-long interview.
3. Video Conferencing Makes All Meetings More Efficient
Video conferencing isn’t just for remote teams. Whether you want to bring in a co-worker who’s traveling in Singapore or a business partner who doesn’t want to make the two-hour drive to your downtown office, with today’s technology, holding a meeting via video makes people feel like they’re right there in the same room as everyone else.
This isn’t just convenient; it can help your team stay productive, even when there’s bad weather. With video conferencing and other mobile strategies like using cloud-based apps, you can essentially storm-proof your business.
4. The Visual Impact of Video Enhances Learning
Let’s face it; we learn more and can better understand the message someone is trying to convey when we have visual cues to rely on. The human mind processes visual information much faster than info conveyed via text or audio. This makes video conferencing an invaluable channel for business communications for uses ranging from employee training to collaborative meetings.
5. Video Conferencing Enhances Productivity
Studies show that remote teams are just as, if not more, productive. One-third of employees who work from home get more done in less time, and 77 percent say they are more productive when working at home.
These workers also have the flexibility to collaborate with co-workers from anywhere – coffee shops, co-working spaces, even their hotel room. This location-agnostic working style makes it possible to solve problems and address issues as needed so teams can communicate quickly and keep working.
6. The Added Flexibility Helps to Attract Talent
Video conferencing makes it possible for businesses to not just allow remote work, but to thrive with a team of telecommuters. People like not being tied to the office. Being able to offer employees the freedom to work remotely can help to attract and retain talent.
The Global Workplace Analytics survey found that 95 percent of employers said that allowing telecommuting increased their employee retention rates. Of those workers who already work remotely, 37 percent said they’d take a 10 percent pay cut if it meant not having to commute to an office every day.
7. Video Conferencing Makes Global Teams Possible
Another benefit of video conferencing is the ability to bring on employees that aren’t local. Your company can hire the best talent for the position, no matter where they are located. This opens up so many doors for those businesses that have the vision to tap into the potential.
This Is Only the Beginning
Video conferencing is much more than another useful type of technology. It’s empowering teams, evolving our perceptions of the modern workplace, and changing the way we connect with one another. And, as technologies like augmented reality, VR, and AI keep moving forward, bringing us cutting-edge tools like holographic meetings and virtual reality ‘huddle rooms’, video conferencing is going to continue taking center stage.
To learn about empowering your team with video conferencing and other collaborative communications tools, get in touch with the Intermedia team today.
Kirsten Barta
Kirsten Barta is Sr Marketing Communications Manager at Intermedia
November 7, 2019
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