Virtual teams are replacing physical ones faster than anyone expected – and for good reason too! Many business owners have found that having a completely virtual team opens a wider talent pool with many benefits that can’t be ignored. So much so that 80% of companies have shifted towards virtual team collaboration in the past year due to the Coronavirus pandemic and have no plans to return to the office either.
So, if you’re still on the fence on whether a virtual team will work for your business, let’s have a look at all the advantages to help you decide.
They’re gentle on your pocket
That’s right! Having a completely virtual team means there is no need for a lavish office space where you are constantly concerned about supplying a healthy, happy work environment. A virtual team can work from anywhere they please, saving you thousands of Pounds on office rental. Since virtual employees’ mostly work from home, they handle costs like electricity, Wi-Fi, coffee and their telephone bill. The list is endless!
You are also not bound by long-term contracts which save on HR and recruitment expenses. Most virtual teams are paid per hour, which means you only pay for the tasks you really need.
You might have to spend some money on the proper software to equip your team to do their job but often an outsourced virtual team will already have this, depending on the job you need to be done.
No geographic limitations
One of the biggest benefits of them all. Hiring a virtual team means you have access to a wide range of high-quality talent from all corners of the earth. You don’t need to settle for employees that live within travelling distance and you can even cut costs on hiring people in countries that charge less or have a weaker exchange rate.
Your team can be spread across the world but still connected by the same goal, to make the business a success.
You can operate around the clock
Since you’re not limited to geographic locations, you can have people working on your business pretty much every hour, on the hour. Having employees in different time zones makes you contactable 24 hours a day which is great if you’re looking to expand and grow your business around the world, and what entrepreneur wouldn’t want that?
This brings us to our next benefit.
Easy to grow
The goal of every business is to grow. And as you grow you need to be able to delegate more work.
Having a virtual team means it’s easier for your business to grow without being restricted by small office space and supplies. A physical team limits you to how many people you can hire to fit in a certain area. Imagine not being able to hire that brilliant SEO (Search Engine Optimisation) specialist because the number of desks doesn’t allow for it? Sounds counter-productive to us!
A virtual team allows you to hire as many people as you need without having to worry about these unnecessary limitations. Remember, there are no restrictions on how many people can attend a virtual call.
Flexibility equals happiness and increased productivity
Being a virtual employee undoubtedly means more flexibility. They save precious time in traffic which means they are less frustrated and stressed before the workday has even begun.
Having flexible hours means they get to choose when they are most productive within their day. Allowing them to choose their working hours means they can focus better and get the job done efficiently when it suits them best. In fact, 75% of virtual teams worldwide say that remote collaboration allowed them to be more effective in their jobs.
Giving your remote employees’ a better work-life balance allows them to switch off, refresh and recharge which leads to an all-around happier and more satisfied virtual team. Happy and satisfied employees lead to a lower staff turnover rate and have a positive impact on their productivity. Increased levels of productivity mean a higher return on investment, which is the ultimate goal of any business.
A business is only as strong as its people. Provided you’ve hired the right people and trained them well, allowing your team to work remotely lets them know that you trust them to do their job from wherever they are most comfortable. Building trust with your team creates loyalty and encourages them to stick around for the long haul.
Hiring a virtual team means there are fewer distractions at the office. That chatty co-worker, the long tea breaks or gossiping around the water cooler. A remote employee knows they have a job to do and make sure they get that job done without being interrupted.
Your virtual meetings are also more relevant as there is more purpose for the point of discussion. How many meetings have you attended that could have been an email? Unnecessary meetings waste time and leave employees feeling drained and unproductive.
When there are fewer distractions, your virtual team can rather focus on their actual work instead of being called into the boardroom in the middle of an important deadline.
However, there is a downside to this. You won’t just be able to just walk up to someone’s desk and ask them a question. You need to have effective communication channels in place for your virtual team to get all the information they need to perform their job. Platforms like Microsoft Teams, Slack and Monday.com are all notable examples of effective communication channels to implement with your team.
Kinder on the planet
Lastly, utilising a virtual team means that everyone within the team leaves a softer carbon footprint. Less commuting means fewer carbon emissions being emitted, damaging the ozone layer. Fewer resources being used in an office means less paper wasted and electricity consumed.
Be kind to our planet, it’s the only one we’ve got!
And there you have it! All the reasons why virtual teams are overtaking physical ones. They save on overhead costs, contribute towards the growth of your business and have a direct impact on your profit margins. What’s not to love?
If you’re looking to hire your virtual team, speak to us about how we can help you achieve that.