Business is filled with major decisions that can impact your company, and few decisions can have a bigger effect than deciding between a virtual office vs a traditional office. Both choices offer certain pros and cons, and both may be suited for your business model. Here is a breakdown of what each option offers. This information should help you determine what solution works best for your business and how you should go about implementing these options.
Benefits of a Virtual Office
A virtual office provides you with business essentials while not requiring your employees to report to the same place every day. When comparing traditional office space versus virtual office space, the latter provides your employees with more flexibility and saves significantly on overhead costs. You don’t have to pay for a housekeeping crew, budget for utility payments, or keep up on the latest office equipment available. A virtual office also works wonderfully for temporary employees or contract workers who won’t need a permanent space. Because you can rent a cubicle or training room for a short period of time rather than relying on a full month’s lease, you can tailor your expenditure to better reflect the actual time spent in an office area by each employee.
Benefits of a Traditional Office
While the benefits of a virtual office are significant, there are certain advantages to having a physical office as well. Most of this comes down to ease of collaboration. If you have a number of employees who can’t work with or don’t feel comfortable using virtual communication tools, then having them physically together in the same space can be a boon to your overall efficiency. A traditional office also provides for easier impromptu meetings and more flexible boardroom usage – if you have to push a meeting back at the last minute, you don’t have to worry about having to rebook the boardroom or spend money on rental time that you aren’t using.
Choosing the Right Office for the Job
When comparing a virtual office vs a physical office, consider the needs of your business. Do you have a lot of movement among personnel? Do you use a lot of freelancers and contractors? How comfortable are your employees when it comes to technology? How much money do you have for overhead? Virtual offices are best for businesses that need to control costs or which have a lot of employees working independently with occasional collaboration. If you need a team that works closely with each other at all times and you have the financial capital to pay for potentially high maintenance, cleaning, and technology costs, a traditional office may be a better option for you.
While many businesses currently stick with the traditional office model, virtual offices provide a higher degree of flexibility coupled with significant savings. This has led them to make great strides in the number of companies that use this model. When thinking about the best course of action for your business, consider the information above and decide what will give you the greatest flexibility and efficiency.