Saving Costs, Saving Time, Saving the Planet
Can working virtually help you survive the Credit Crunch?
Three of the key issues facing businesses’ today are:
1. Increasing oil prices
2. Economic slowdown
3. Reducing your carbon footprint
This August oil prices reached service25 per barrel, the UK saw inflation continue to rise, the credit crunch heighten, and, despite the rainy UK summer, reports are that the polar ice-caps are melting at an unprecedented rate – could working virtually be one answer to these business issues?
Oil prices are causing business costs to spiral, impacting road and air travel alike. There are indications that the increasing fuel costs may herald the end of budget flights with airlines cutting the number of flights this winter. Easyjet are reducing theirs by 12%, Ryanair by 20% and British Airways by 5%, furthermore British Airways are increasing prices by 4%; all are holding rising oil prices accountable. Petrol prices have hit a 20 year high in the UK and the average cost of filling up a tank soared to £61. Predictions are that prices could reach £1.50 per litre by 2009, meaning the average cost of a tank rising to £84.
Reports are that the UK economy has come to a standstill, with the Office for National Statistics showing no growth from the first quarter of 2008. Businesses are feeling the pinch and looking at ways to trim costs and increase efficiency.
Although we in the UK have seen little sun this summer the spectre of global warming is still present, and that along with a good sense of corporate social responsibility, are strong motivating forces for businesses to reduce their carbon footprints. Research has shown that a 5% - 30% reduction in European business travel could reduce carbon emissions by between 5.6 and 33.5 million tonnes (European Telecommunications Network Operators Association and the World Wildlife Fund). The good news is it seems that European companies are starting to show signs of going green, with over half citing carbon emissions as a factor in determining travel decisions.
What is the alternative to business travel and conducting business face to face?
Work virtually, capitalise on advances in communication technology. Many of the problems previously encountered with communication technology are starting to be ironed out, there is a new generation of video-conferencing, and that is only one of the options available, the downside is that the cost of such technologies can be prohibitive for many companies. However, there are alternatives, using serviced offices and meeting rooms means you can access technology, on demand, without the capital cost.
For cost and planet conscious companies utilising serviced or shared office space can enable people to work together, virtually, reducing business related travel – saving costs, saving time, saving the planet.
However replacing travel with technology is only half the solution – whilst working virtually may solve many of today’s salient business issues but it also presents challenges in terms interpersonal dynamics. Individuals, teams and organisations need to appreciate there are some fundamental differences between working traditionally and working virtually. Research has shown that what differentiates low, and high, performing virtual teams are the behaviours they display and activities they undertake. In the virtual environment, technology mediated interactions are more complex due to the reduced availability of social and non-verbal cues; research has shown workers can develop specific skills and behaviours to facilitate effective virtual interactions.
This article was written by Bluestone Talent Management.
Business psychologists Bluestone Talent Management can help your business evolve, providing people development solutions that capitalise on the future. For information on our virtual/collaborative working programmes, including virtual leadership development and virtual team working, contact:
Email: rmillardevans@bluestonetm.com
Phone: +44 (0)20 8334 8082
Mobile: +44 (0)7854 569629
Web: www.bluestonetm.com