The popularity of virtual office space has been increasing for quite some time now. The reason being the various advantages it possesses. Virtual office spaces are an affordable alternative to a traditional office building for online businesses that may not need a physical location. Working remotely gives employees more freedom to work how they want, while still providing a framework for success. But along with the many benefits, virtual offices are not for everyone and do present some management challenges if your business is not entirely online.
Virtual offices give you a physical address presence without you being physically there. With virtual office space, you can have a business address at any location you want that too at a fraction of the cost of leasing traditional office space in that same area. Virtual offices also make it easy to get top talent from anywhere in the world while letting employees work remotely. You can read more about the benefits of virtual office space in our blogpost – Top 6 Advantages of A Virtual Office Space and Why You Should Consider One For Your Business.
Like every coin has two sides, similarly, along with all the benefits a virtual office address provides, there are certain cons too. So if you are think of taking up a virtual office address, you must have a complete idea about both the pros and cons, before making the final choice. Let’s get into the details that will help you decide –
Virtual offices allow businesses to significantly lower their overhead expenses and allocate that fund to other areas. Taking up a virtual space costs way low below those of brick-and-mortar offices; hence it saves a lot of money that can be better utilized over other things. By replacing regular office space with virtual offices, they represent the ideal option for companies trying to make their presence felt in quite a few places at the same time.
Another advantage of virtual offices is the lack of management needed. Regular offices have to be managed regularly; a virtual office needs little supervision. Employees also have greater flexibility to develop their workflow and productivity habits, leading to increased creativity and innovation. Virtual offices give employees the freedom to manage themselves, which can significantly benefit if you have the right team.
Even the best offices have their issues. A group of people with different personalities will have some kind of conflict or disagreement. Virtual offices allow companies to continue to be productive without this clash. And communication just turns virtual using technology as in via messaging or video conferencing apps.
Although in today’s digital world, having a physical space is not that essential, but many businesses are not sustainable without a physical space. If you’re in a client-services business, having a physical location communicates a sense of permanence and professionalism that is hard to attain with a virtual office. The nature of your business will determine if a virtual office is right for you. But if you think you will need a space in the future, you can easily opt for a coworking space nearby to do the work of a physical office. If in Bangalore, head over to GoodWorks coworking space and explore the wide range of space options.
Diminished contact with co-workers can lead to isolation after some time. Face-to-face contact builds a sense of companionship and trust. Nothing can replace that, and it is hard to replicate in a virtual office. The team-building exercises, office parties, and all that happens are great morale boosters and help build a sense of community within the workplace and promote the organization’s culture. Scheduling the occasional in-person meeting or community gathering can be a good way to bring back the human connection.
Sometimes due to the lack of communication, structure and discipline that a physical office provides, the productivity of employees decreases. They may even feel dull and monotonous working alone. Even work can hamper if clear, actionable goals are not set and recorded. It becomes difficult to track everyone. You may need the help of software to keep things at one place. Everyone is different, and while one may benefit from telecommuting, another may suffer.
You know the specific needs of your business! If your business doesn’t need regular office space virtual offices are exactly what you are looking for. Have a virtual office address in Bangalore, one of the top cities in India, with GoodWorks CoWork. Check out more details here!