Companies around the world are undergoing a massive shift. More companies, now than ever, are working virtually these days. From daily meetings to team building activities to fireside chats, everything is happening online.

This has led to the dependence on tools like conference software that can support virtual engagements for remote workers. Here, the latest updates, changes and upcoming trends related to the virtual events and video conferencing are discussed.

1)    Hybrid workforces will continue to be the mainstay for companies globally

Although most organizations are still hesitant to come back to the office full time, many have started dispatching smaller units to work in the office. Typically, these are key teams who are integral to the operations or those who have volunteered to work from the office.

With a larger percentage still at home, a hybrid working model looks to be in the books. In fact, a survey of Google’s employees revealed that 75% of employees feel hybrid is here to stay. If it is, investment in video conferencing and virtual event organization will increase. These tools will support companies in fostering a sense of community between in-office and remote team members, while also boosting team morale.

2)    Conferencing tools have started offering better features to support various virtual events

Given that hybrid working has put down roots, video conferencing software developers are working towards improving their technologies to support a wide array of organizational events. From in-built calendars to schedule meetings to breakout rooms for virtual team building activities, these software for hosting virtual events have new features to offer.

Other features that can be found on virtual conferencing software are in-built transcription tools, video clipping feature, language translation tool and a variety of third-party integrations.

3)    Post-live editing software set to revolutionize the virtual event software industry

Till now, post-filming edits were possible only with pre-recorded event videos. But in 2022, users can expect to see virtual event conferencing tools that will allow them to edit and clean up live videos after finishing the live event. Not just this, but the post-live edit feature will allow the user to apply advanced camera/lighting tricks onto the video to make it look more professionally-made.

This can be a great way if companies wish to share their in-office experiences to virtual team members, because they are unable to attend them. For example, team building games, safety demonstrations and training sessions that require physical presence to practice, can be recorded as they are happening live and then re-shared with remote employees for later perusal. Such videos can also be shared easily by the company with external shareholders as well. Especially for compliance requirements or during annual general meetings.

4)    Conferencing software for virtual events is set to grow to $75 billion industry

The rise in utilization of conferencing software has ensured this industry will grow at a tremendous pace. In 2020, the industry was worth around $15 billion. By 2027, it is projected to reach a whopping $75 billion in value – a solid 23% increase. Leading the charge in terms of adoption rate, is the Asia Pacific region.

5)    Virtual event and conferencing tools will help companies with both relationship building and productivity

One of the main concerns that companies had during the start of the coronavirus pandemic, was the challenges of supporting company goals with such a scattered and remote workplace. But, over the past two years, video conferencing software for virtual events have undergone tremendous shifts. Research shows that the introduction of a slew of advanced features to the conferencing and event hosting software, have helped companies –

·      Bring down travel costs by 30%.

·      Increases employee mobility by 50%.

·      Lowers absenteeism by 41% by allowing companies to implement team building activities.

·      Increases profitability by 21%.

Metrics aside, these tools have done a lot for team building and nurturing intra-company relationships –

·      Conferencing software allows people across time zones to attend the same virtual event and be introduced to one another.

·      Conferencing software fosters a culture of innovation by helping employees across continents to collaborate. This also applies to intra-team collaboration as well.

·      Conferencing software ensures team members get complete visibility into each other’s work and supports daily catch-ups and check-ins. It also helps them schedule team building events virtually so colleagues can get to know one another. This in turn supports a positive and welcoming work culture that employees enjoy.

·      Conferencing software gives companies the opportunities to treat their staff to virtual music shows, museum walkthroughs, theater screenings, VIP interviews and more, which can also be a great booster of team morale.

Wrapping up

In these ways, the latest updates and upgrades that conference software are going through, are fostering a healthier hybrid workforce. Through virtual team building activities and other online video streamed engagement, conference software is setting the stage for a transformed corporate future.