Virtual Teams & How They Can Grow Your Business
June 20, 2018
It is no secret that the pace of technological advancement is faster than ever before. Collaboration and team building has never been as easy as it is now with the technology we have access to today. The idea of having a virtual team is relatively new. However, as more companies move forward in building virtual teams, businesses are capable to reach new heights in collaboration and business efficiencies than they ever had before.
What exactly is a “virtual team”?
A virtual team is exactly what it sounds like: employees that work together regardless of their geographic location through the Internet work on a virtual team. Programs and services used for digital notebooks, PowerPoint slide presentations, and word document processing such as Google Drive or Microsoft One Note can be utilized to host teams remotely as they update in real-time. Skype, Google Hangouts, and even Discord can be used for multi-user voice collaboration.
How can a virtual team benefit your business?
Businesses looking for a great way to recruit the maximum amount of talent possible while still at the same time seeking to remain cost efficient should always consider virtual teams. There are many benefits that all business owners should be aware of:
- Your access to talent is expanded immensely – Many business owners face the challenge of acquiring talent and skills relevant to their business as the number of potential candidates can be limited in their town or city. Virtual teams eliminate this challenge by eliminating distance as it enables world-wide employee recruitment.
- It’s more cost efficient than you may realize – As workspace rents can account for up to 20% of average business overhead, the efficiency in which virtual teams provide is undercut from the ability to work from home, libraries, and even during travel. In addition, the lower costs become more apparent once we realize that electricity, water, furniture, office supplies, and even computer and security systems are included in the cost cut that comes from virtual teams.
- It can be crucial for businesses looking to go global – As businesses continue to acquire talent from all over the world it becomes possible to essentially eliminate business hours completely. Virtual team members based throughout the world can work according to their time zone. If a business has a virtual team with employees throughout the world there will always be someone ready to keep the business operating.
- Employees are happier – At some point throughout one’s professional career there comes a time where they wish they could just stay in bed and not leave for work. Virtual teams offer the balance between work life and personal time that virtually everyone is seeking as many employees are offered the freedom of working from home. With that said, it is clear why virtual team members report higher job satisfaction.
Those considering creating a virtual team for their business have much to gain if they chose to do so. While it is true that a virtual team can be challenging for some business owners as they learn how to properly manage a virtual team and become accustomed to the virtual rhythm, many business owners who do succeed with virtual teams reap the benefits.
