Our work environment keeps changing at an increasingly rapid rate. The immense amount of tools available at our disposal keeps growing by the minute, unveiling new opportunities that we couldn’t imagine not long ago. This new reality is as exciting as it is challenging: How can technology and business leaders make the necessary adaptations to succeed, create, and sustain a competitive advantage?

One solution that addresses this challenge and is gaining more traction over the last few years is video. Not only has video become a predominant communication medium that, according to Cisco, accounts for 90% of all internet traffic[1], but it’s also multi-functional. It can, therefore, support different business activities in different ways, and accommodate organizations during their digital transformation and beyond.

Video for the Agile Mindset

“It is not the strongest who survive, but the ones most responsive to change” has never sounded truer. In today’s global economy, where a solution we used yesterday may no longer be relevant tomorrow, adaptability is what distinguishes market leaders from the rest of the pack. One consequence of this new dynamics is the adoption of the agile methodology—a business approach through which companies can change the product’s outlook more dynamically and deliver results at a higher frequency.

Since such a shift requires companies to align their workflows accordingly, its implementation must be carefully planned and executed. Thankfully, video can substantially facilitate the transition.
For once, it helps to systematically familiarize employees with new professional tools and systems whereas normally, such a process would not deliver consistent results. It also makes learning more entertaining and effective when it comes to memory recall. Moreover, its effect increases over time. A study about learning media found that after three days, a user only retains between 10-20 percent of written or spoken information. However, when combined with visuals like video, they can recall as much as 65%. Another study confirms that visuals such as video are 9% more effective for short-term recall and a whopping 83% for long-term recall [2].

Video for Enhanced Engagement

Video is arguably the most engaging communication medium. Studies show that it provokes stronger emotional responses than other media, encouraging people to act: comment, like, and, most importantly, share with the world. Compared to text and image combined, for example, social video generates 1200% more shares[3]. While video is often perceived as the ultimate external communication tool, it can be just as effective for internal communication, sometimes even more. Luckily, businesses are beginning to tap into the medium’s potential, with 59% of executives say they prefer video over text[4]. And though it is generally considered engaging, some video types have more impact than others. The best video type for engagement, as much as eight times more than other content shared on brand channels[5], is said to be employee-created videos. Such videos are a great corporate morale booster as they give employees a voice and the chance to communicate with different departments and teams. With employees taking an increasingly active role in corporate communication and growing more significant to the organization on every level, it’s no surprise more than a third of all employees would like to see more video content in the future [6].

Video for Remote Collaboration

Another noticeable change in today’s corporate dynamics is the proliferation of remote work. More and more businesses are replacing the office setting with remote teams distributed around the world. Last year alone, 64% of organizations offered a flexible working environment, a 21% increase in comparison with the year before[7]. This change in work habits is beneficial for both parties: employees enjoy more freedom and flexibility, and employers win more productive and motivated employees at a lower investment. Using advanced video tools—like video conferencing or live-streamed company events—individuals and teams don’t need to sacrifice their standard of communication. Instead, they can use their desktop camera or mobile device to share professional knowledge, work back-to-back, and brainstorm even when located in different countries and different time zones.

Video for Employee Retention

With all its advantages, the modern workforce also entails some challenges. One primary challenge corporations are facing is the ever-increasing employee turnover rate, a result of the ongoing war for talent. Many organizations find themselves competing for qualified employees, especially if the number of open positions outnumbers the number of people looking to fill them. Nevertheless, it’s possible to mitigate turnover by investing in retention factors. One such an example is inclusive communication. Video’s appeal allows it not only to bridge between different levels and departments but also between intercultural and intergenerational differences in the workplace, a trending topic these times, as modern work environments often span four and even five different generations, from “Traditionalists” (born before 1946) to Generation Z (born after 1997).

Summary

In the business context, future-proof and adaptability are almost synonymic. Companies that adapt well to changes are more likely to succeed and increase their market share. Yet, implementing changes in work processes can be challenging, especially when done at a high frequency. Thankfully, capitalizing on existing technologies such as video can accommodate the modern workplace’s needs and streamline its digital transformation.

 

Sources:
[1] https://www.adweek.com/digital/cisco-predicts-that-90-of-all-internet-traffic-will-be-video-in-the-next-three-years/
[2] https://www.shiftelearning.com/blog/bid/350326/studies-confirm-the-power-of-visuals-in-elearning
[3] https://biteable.com/blog/tips/video-marketing-statistics/
[4] https://seattlewebsearch.com/2017/03/executives-prefer-to-watch-video-than-read-text/
[5] https://www.socialmediatoday.com/content/employee-advocate-mobilize-your-team-share-your-brand-content
[6] https://staffbase.com/blog/11-ideas-how-to-rethink-internal-communication/
[7] https://www2.deloitte.com/content/dam/Deloitte/ru/Documents/about-deloitte/en/millennials-report-global-2017-en.pdf