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10 outstanding benefits of virtual teams

10 outstanding benefits of virtual teams

In today’s fast-paced business environment, the concept of virtual teams and remote work 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. In fact, almost 80% of global corporate work policy has shifted to virtual teams and a hybrid 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 makes it harder to choose competent virtual teams. Whereas with traditional teams, it is easier to assess employees’ functional skills and manage practical training. 

Virtual teams and traditional teams are also different in terms of management style. Team leaders can micromanage employees in a traditional setup. With virtual teams, the leadership style is usually more “democratic and coaching”

10 benefits of virtual teams 

Small to large businesses are now embracing the concept of virtual teams and are taking advantage of it as part of their business solutions. 

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10 benefits of virtual teams

Here we have 10 outstanding benefits of virtual teams:

Increased productivity 

A lot of studies have shown that virtual teams are more productive working in remote setups than in-office settings. In fact, 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. This 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. Today, many businesses take advantage of virtual team collaboration 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 businesses 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, have a health & fitness routine, and utilize their leisure time for other activities. 

Access to global talent pool 

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. 

Your virtual team can help you establish and achieve long-term business goals while they work from anywhere in the world.

Access to global talent pool

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 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. 

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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Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.