“Frugality includes all the other virtues.” – Cicero
Did you know employees eligible for federal telework work remotely 2 days per week, reducing office space by up to 30%, absenteeism by 31%, and voluntary turnover by 4%, while increasing productivity by 12.5%. (Source: Global WorkPlace Analytics.)
The Patent and Trademark Office reported a 21% first-year ROI and 54% ROI in subsequent years from telework. The average first year spend for IT, equipment, virtual infrastructure, travel, support services, and connectivity was $7,920 per person and the savings totaled $9,630; in subsequent years the spend was $4,570 while the gross savings stayed the same.
Depending on the size of your organization, department matrices, and depth of decision making, any company can dramatically decrease operational costs and improve productivity with remote meetings.
Calculate the Significant Cost Savings
Flights to China and back can get expensive over time. So can bringing in team members to make important decisions. Lodging, meals, and local transportation add up fast. When you multiply the cost per person by the number of participants the choice becomes not just if, but when can we go remote.
Have you ever delayed a meeting because there was unsatisfactory participation? If an emergency was called to order and your team couldn’t align then the cost of not making a decision quickly can be significant.
Reduction in technology
I’ve seen companies brag about their state of the art technology and then when it becomes show time, it doesn’t work. It can become expensive when you start adding up all of the tools, how they integrate with one another, and expensive to train team members on multiple tools. I’ve been impressed with Zoom’s deceptively simple technology. It makes it so you’re not desperately trying to connect using a difficult system on your own dime and time.
Real property investment
The New York Times reported a rate of $118/square foot per month for commercial space on Park Avenue in New York City. How much would you save on rent if half of your team worked remotely?
Remote meetings aren’t just green. They can be evergreen. If you embrace cloud document sharing and recording your meetings instead of printing out your agendas, handouts, and recaps of previous meetings, you can save paper and office supply expenses.
Calculate Your Savings
A Zoom Pro plan costs $9.99/month. This cost for one year is roughly equivalent to one-half of one leg of my next flight. I’ll never travel for work again if I can possibly help it. It just doesn’t add up!
About the author: Companies bring in Doug Devitre, CSP when they want to improve their performance in sales, marketing and technology. His upcoming book with McGraw Hill “Screen to Screen Selling: How to Increase Sales and the Customer Experience Without Being Physically Present” shares how to use Zoom in ways that dramatically reduce costs and improve sales performance. Doug is a Certified Speaking Professional which is bestowed upon the top 10% of professional speakers world wide.
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