Understanding Opportunity Cost

To calculate the opportunity cost of technology, you first need to consider its features and benefits. Opportunity cost is how much your organization loses as a result of not leveraging these features and benefits. For example, let’s consider the opportunity cost of not having a productivity suite for your business with all of its modern-day amenities. You lose a lot without access to these apps, cloud access, integrated communications solutions, and secure file sharing—so much that it could be to your business’ detriment.

The Value

There is one glaring problem with calculating opportunity costs for your business: you need to understand the technology before you can make an accurate estimate for it. You’ll have to consider how other organizations have used it to solve similar problems and how other technology solutions can address the same challenge. You would then compare these solutions side-by-side to determine which one of them would provide a better return on your investment.

Making Tough Decisions

While statistics make deciding things easier, they are not always the be-all and end-all. You also must consider your organization’s specific needs and how these solutions are actually going to address them. If your organization does not lose anything regarding opportunity cost by working with cheaper software, then perhaps that is the best way to get the highest ROI.

On a similar note, though, if there is a significant opportunity cost to a potential solution—perhaps one that would help you drive more sales or open up your services to new clients or markets—then the feature-rich solution is worth the investment. Again, knowing your business inside and out will help you make the best decision possible with your IT solution acquisition.

Let Us Help Your Business

If you need assistance with your technology management, Patriot Tech Services Inc. has a plethora of knowledge you can leverage to benefit your business. We can help you identify the best return on your investment and ensure that you won’t be leaving any unaccounted-for opportunity costs on the table. Learn more by calling us today at 877-874-4629.

Focus on Data Protection

Most file sharing occurs during work hours, making robust data protection standards essential. Rather than relying on lax measures, prioritize data protection by integrating solutions that enable secure file exchange within email, thereby avoiding the need for third-party platforms.

Business-Class > Consumer-Grade

Consumer-grade file-sharing services often pose security vulnerabilities and compliance issues. Choose a solution that offers comprehensive security controls, such as access management, expiration settings, and e-discovery features, to ensure regulatory compliance and data protection.

Embrace Cloud-Hosted Platforms

Regardless of your organizational requirements, using a cloud-based file-sharing solution offers significant advantages, such as rapid deployment, high-performance and fully managed infrastructure, and, most of the time, comprehensive backups.

Consider Integrations

Instead of standalone file-sharing systems, choosing more integrated systems that incorporate essential functionalities like email security and other services is prudent. Streamlining your software ecosystem without compromising security will enhance efficiency and improve file security.

Provide Comprehensive Training

Effective file-sharing systems require thorough training to take full advantage of. Educate your staff on data handling best practices, the risks associated with improper data management, and the specific procedures your company chooses when you are using file-sharing platforms.

Balance Security and Usability

While maintaining robust data security is crucial, ensuring ease of use is equally important, especially for dispersed workforces. Choose business-class solutions that offer consumer-grade usability to minimize the risk of compromised data security due to user error.

We Can Help!

At Patriot Tech Services Inc., we specialize in optimizing data flow, enhancing file security, and facilitating efficient file sharing for organizations. Contact us today at 877-874-4629 to talk to one of our knowledgeable consultants about your organization's IT.

How can you foster engagement in remote and hybrid work environments, whether new to remote work or looking to improve your existing practices? Let’s explore.

What Does Hybrid/Remote Workplace Engagement Look Like?

Workplace engagement refers to the commitment, motivation, and connection your employees feel toward their work and organization, whether their particular workplace is in the office or elsewhere. It's about creating an environment where employees feel valued, heard, and part of a community, even when not working next to one another.

To create such an environment, it is important to recognize the hallmarks of a solid workplace culture, whether your team works in-house, remotely, or a hybrid combination of the two.

Fortunately, these hallmarks are fairly easy to spot:

• Clear and consistent communication between team members
• Regular feedback and recognition being shared amongst departments and coworkers
• Opportunities for professional growth and upward mobility in your organization
• A strong sense of team and company culture
• Support for work-life balance and mental health

If you can help cultivate these trends in your business, you’re on the right path. That said, utilizing a dispersed workforce adds pretty unique challenges to this process. Building a culture and shared purpose can be hard when your team is spread out and quite possibly feeling isolated. That’s before we even consider how complicated virtual communication can be.

Ultimately, this means you must actively work to keep your company culture alive and well among every employee, not just those in the office. Let’s discuss a few ways to do this strategically to ensure your team members appreciate the value you see in them.

How to Enhance Company Culture in Remote/Hybrid Workplaces

Establish Clear Communication and Expectations

Clear communication is the backbone of a successful work culture, and it’s only more important when remote workers are involved. It is essential to ensure everyone understands their roles, responsibilities, and expectations regarding their work hours, deadlines, project goals, and performance metrics.

Plus, it's important to establish clear communication channels. These could be email, video calls, instant messaging, or project management tools. The key is to confirm that everyone knows how and when to communicate, reducing the potential for avoidable misunderstandings.

Prioritize Check-Ins and Feedback

Regular check-ins and feedback sessions are crucial in a remote setting. They allow managers and team members to connect, discuss progress, address concerns, and provide constructive feedback to offer support. These check-ins, such as weekly team meetings or one-on-one sessions with managers, can be formal or informal, like a quick chat over instant messaging. The goal is to maintain open lines of communication and ensure that everyone feels heard and supported.

Emphasize Recognition and Rewards

Recognition and rewards play a significant role in remote employee motivation. They show employees their hard work is noticed and appreciated, boosting morale and productivity.

This could be as simple as a shout-out in a team meeting, a thank you email, or a small reward for a job well done. The key is to make recognition regular and meaningful, showing employees that they are valued team members.

Measuring and Tracking Company Engagement

Measuring and tracking company engagement is crucial for understanding the effectiveness of your remote work culture and hybrid work strategy. It provides valuable insights into what's working and what needs improvement, helping you optimize your business by identifying growth opportunities—whether that opportunity is a team event or a one-on-one sitdown, an in-person affair or a virtual meetup.

Remote, In-House, or Both… You Need an Engaged Team

When all is said and done, the very necessary task of maintaining engagement in a remote or hybrid workplace requires a thoughtful and proactive approach. By implementing clear communication, regular check-ins, recognition programs, virtual team-building activities, and a flexible hybrid work strategy, you can foster a strong remote work culture and keep your team connected, motivated, and productive.

While we can’t play much of a role there, we can provide the tools to help you succeed. Contact us at Patriot Tech Services Inc. to learn more about our IT solutions for the businesses of TriState. Give us a call at 877-874-4629 to learn more.