10 outstanding benefits of virtual teams
In today’s fast-paced business environment, the concept of virtual team members and remote team are not new for everyone.
According to Gallup’s State of the American workplace report, 39% to 43% of employees have worked remotely between the years 2012 to 2016.
As companies realize the benefits of virtual teams, they have become increasingly popular across the business community.
Almost 80% of global corporate work policy has shifted to virtual teams with a mix of a remote team in a hybrid [1] setup during the initial stage of the global health crisis.
Ultimately, these work models significantly helped mitigate the spread of the virus. As for businesses, there were tons of ways they were able to take advantage of having virtual teams.
In this article, learn more about the concept of virtual teams and how it differs from traditional teams.
If you’re on the fence about hiring remote workers, consider the outstanding benefits of virtual teams to your business.
What are virtual teams?
A virtual team is a group of employees who work together but are situated across multiple locations and time zones around the world.
As such, virtual teams communicate through technological advancements and the internet.
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Remote work is possible because of a cloud server, allowing employees to collaborate without having face-to-face interactions.
Virtual teams use various digital tools which automate and facilitate workflows and keep communication between colleagues going. All of these activities are happening in entirely virtual environments.
Virtual teams vs. traditional teams
Simply put, virtual teams work together in different locations while traditional teams work in physical proximity.
Even though both teams share the same functions and work towards similar goals, virtual teams and traditional teams are still distinct from each other.
More specifically, the lack of interaction is one of the most common disadvantages of virtual teams. Because of this, it makes it harder for a company to choose competent virtual employees.
Whereas with traditional teams, it is easier to assess employees’ functional skills and manage practical training in physical office where the employees are physically present.
Virtual teams and traditional teams are also different in terms of management style. Team leaders can micromanage employees in a traditional setup.
Managing virtual teams, the leadership style is usually more “democratic and coaching”.
10 benefits of virtual teams
Both small companies and large businesses are now embracing the concept of virtual teams and are taking advantage of it as part of their business solutions.
It is good to note that a virtual workplace benefits virtual teams if the company provide the right tools.
Here we have 10 outstanding benefits of a virtual team:
Increased productivity
A lot of studies have shown that virtual teams are more productive working in remote setups than in-office settings.
Most employees are getting less productive before they even start their duties at work because their daily commute consumes their energy.
As per Zenfit’s report, 78% of employees said that a flexible working setup makes them more productive.
Hence, employees spend less time getting ready and do not have to commute to the office every day.
Companies that opens the possibility for virtual teams makes the employees more focused and motivated, resulting in higher productivity on tasks at hand.
24/7 availability
Virtual teams can be hired from different parts of the world. Although there may be cultural differences, this work setup improve employee engagement.
Today, many businesses take advantage of this virtual team concept while working from different time zones. As such, you can be able to provide a 24/7 service without overworking your employees.
Cost-efficient
Companies with fully remote operations enjoy this benefit as it lowers the company cost. Virtual teams are far more cost-effective than managing an in-office team.
Businesses don’t have to worry about certain expenses such as office rent, utilities & maintenance, equipment, and supplies.
The only thing your company need to invest in is the software essential for employees to perform their responsibilities.
Healthy work-life balance
Virtual work offers a work-life balance opportunity for employees. Having a healthy work-life balance in a virtual environment impacts employees’ productivity.
It allows them to spend more time with their family, maintain their personal life, have a health & fitness routine, and utilize their leisure time for other activities.
Access to global talent pool
Global virtual team is now a trend and it gives many opportunities for people who wants to work remotely despite physical distance.
With virtual teams, you don’t have to settle for the skills and talents available in your internal workforce.
Hiring virtual teams allows you to access global talent professionals that deliver high-quality services.
Virtual teams can help you establish and achieve long-term business goals while they work from anywhere in the world.
Flexible schedule
As mentioned earlier, virtual teams can work around the clock, at the same time on flexible schedules.
Flexible schedules are beneficial not only for virtual teams but also for employers. This means that you can enjoy higher sales and profits due to the overall productivity of your workforce.
Higher employee retention rates
Recent statistics show that 76% of employees would be willing to remain in their current employers if they were allowed to work flexible hours. Employees who enjoy a healthy work-life balance are more likely to stick around with that particular company.
Higher scalability
It is now easier for businesses to grow and scale when it has a team working remotely.
Employers scale up their business by hiring new employees without worrying about providing office space or office supplies.
This leaves them with a better chance to provide their marketing team with a tool to post to Instagram from Mac, get an email marketing app for the sales team, and make other beneficial expenses.
Scaling up a business can be costly and time-consuming. By having virtual teams, businesses won’t have to spend money and will have less hassle in expanding the company’s operations.
More relevant meetings
Remote team leaders or managers know which projects require all employees to gather in virtual meetings and which ones can be discussed in group messages.
Eliminating these irrelevant meetings is more likely to increase productivity which is relevant in growing business.
Transparency
Web-based platforms allow virtual teams to maintain effective communication, better visibility, and seamless exchange of information.
With the advent of technology, virtual teams take advantage of group chats and other channels where employees remain well-informed.
Wrapping up on the benefits of virtual teams
With these benefits mentioned above, it is not surprising that virtual teams can benefit businesses, whether small or large enterprises.
Virtual teams paved the way for businesses to expand while enjoying the reduced-cost advantage. Thus, the benefits of virtual teams can be a game-changer for your company’s success.
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