By default beginning April 2017, voicemail transcription is available for all Phone System in Microsoft 365 users. When you receive a voicemail, the message will be transcribed in the body of the voicemail email you receive in your mailbox. If you do not want to have transcription for your messages, ask your admin to disable it for you.
That way you'll get to know exactly what other people hear when they call your phone and one last thing I wanted to show you. If you don't see that play on record option on the bottom, you don't have visual voicemail. Set up on your phone and that's through your provider. So if you have at and T sprint T-Mobile or any other provider, you need to have visual voicemail.

To pick the check box next to ‘Mark Default Greeting,’ tap the check box to the right of the check box.
Follow the instructions and press that number. You will be asked to delete your current Voicemail greeting. Click on the ‘Yes’ button that appears on the screen if you want to remove that. You can save your new recorded Voicemail greeting or can use the default recorded option. From the home screen, select the Phone app. Note: Alternately, you can set up voicemail by selecting the Phone app then selecting and holding the 1 key. Select Keypad, then select the Visual Voicemail icon. Select Start. Select Ok. From any Home screen, tap the Menu key. Tap Settings. Tap Call settings. Tap Voicemail. Tap Voicemail again. View the voicemail number. Press and hold the 1 on your device’s dial pad to call and connect to your voicemail. Press the star * key to access the main menu. Press 4 to access the mailbox options. Press 7 to change the language of the voicemail prompts to either Spanish or English.