Adopting live video tech within the workplace has proven to be a popular choice for employees, however its full productivity and monetary benefits are still yet to be realised. Research has found that 92% of companies use video conferencing to stage regular internal meetings, and 69% use video for ad-hoc communications between team members. When you also take into account the growing demand for flexible working – where seamless collaboration tools are key – amongst the 18-24-year-old set, spelling a future where live video is put to work.
For businesses looking to implement live video-based working practices, measuring ROI is critical. However, many businesses unsurprisingly have some hesitation when it comes to implementation. There are certain qualifying questions that businesses should be asking before deploying collaborative technology. Such as: How will video meetings increase productivity? Will the benefits of better collaboration and communication outweigh the cost of implementing new systems? How easily can a workforce be upskilled to use this new technology?
Thankfully, the capabilities to enable the remote worker are much more sophisticated. Recent research from Digital Mums even reveals that nearly 73% of millennial employees would be more loyal to a business if they could work flexibly.
With apps, smartphones, tablets and cloud-based document sharing tools readily available – and at relatively low cost – there’s no longer a disadvantage to having a workforce operating from a remote location. In fact, it’s the opposite, as employees increasingly state flexible working makes them more productive than working in the office. According to a 2016 survey of American remote workers, around 91% of people who work from home feel that they’re more productive than when they’re in an office.
Increased productivity leads to a greater ROI in both the short and long term. With the Digital Mums research having shown that flexible working boosts job satisfaction, we know that a happy workforce equates to a more loyal workforce.
In addition to the fact that, live video enables a far more efficient way to communicate. Psychologists also argue that face-to-face communication helps to sync our brains, and live video makes that face-to-face connection possible by overcoming the distance barrier. But just how easy is it to use? It’s actually quite easy. How often have you used Snapchat in the past few months? Or even FaceTime or Facebook Live? Live video for business is a natural extension of this, with products allowing users to start video meetings with a single touch, without reserving a conference room, or via whichever device is preferred.
In recent years, technology innovators have taken it upon themselves to put weight behind making business productivity solutions much more sophisticated and integrated. As a result, workflow productivity is taken much more seriously. For example, video integrations on Workplace by Facebook with content sharing capabilities, is making collaboration easier and more efficient for employees. As is taking the mobile first approach, enabling employees to use their Samsung Galaxy devices as a central computing hub with video and connectivity capabilities from anywhere via Samsung DeX.
By adopting these live video tools, businesses can get the very best out of their global talent pool. Whether it’s building relationships with colleagues or partners on another continent, ensuring greater collaboration across different teams or allowing colleagues to keep in touch while travelling, live video provides a host of productive benefits. Live video tools also enable businesses of any size to reduce travel expenses and lower their carbon footprints. For businesses looking to maximise ROI across the board this can only be a good thing.
For businesses looking to maximise their ROI from the technologies they implement, live video is a perfect example of a product that ticks all the boxes. Across the globe, brands want to improve the way they communicate and collaborate, both externally and internally, while ensuring their workforce doesn’t require extensive and costly upskilling. Live video technology provides a solution which meets all of these criteria. It’s already a part of employees’ personal lives and with seamless integration across devices and localities, the barriers that traditional modes of communication had, no longer applies.
As with all technologies, there is of course an initial cost involved, but when you look at the host of business benefits available, the longevity and scalability of the technology as well as impacts on staff productivity and collaboration, this cost is quickly outweighed by the ROI your business will see.