A business can keep doing fine with traditional techniques. The profits will be fair, the productivity will be satisfying, and the future will look balanced. However, traditional methods cannot allow unleashing full growth potentials. Adapting to improved ways of work and new technologies is crucial. This is true for corporate workplaces too. The notion of organized offices with cabins for employees is changing rapidly. Virtual teams are the new revolution of Human Resource management. A remote working environment can be the push needed in your business. Hiring virtual or remote workers comes with extensive cost-cutting and communication benefits. Let us understand what Virtual teams are and why you should focus on transitioning to virtual workspaces.
What is a Virtual team in the corporate world?
The concept of a Virtual team is relatively recent. A virtual team is a group of hired people working together on a joint project through a collaborative work environment. The complete work process is facilitated through information technology and electronic devices. Members of the team are located on distant locations and complete the task through communication tools.
Virtual teams can be on Global and local level. A global team includes people from different countries of the world working for various companies. These people come together to work collectively on joint projects with shared goals. Local Virtual Teams constitutes people working for the same company. There can be multiple remote working groups within a single organization in the form of local virtual teams.
Benefits of building virtual teams
There are a plethora of reasons to adopt the virtual style in your human resource and operations department. Maintaining regular offices may seem professional and essential until you see the following benefits of Virtual teaming:
- Increase in Talent availability
When hiring for an office job, you can only look within the city premises. Even then, some perfect candidate can decline the job due to the distance between residence and office, the surroundings of your office, etc. Distance and location restrictions dramatically reduce the available talent pool for hiring. Offices may often end up compromising with less talented employees. This problem does not rise in building Virtual teams. You can hire globally for your Virtual team. There is a vast pool of talent spread across the globe for every corporate job. You can equip your business with likeminded and equally talented people. Talented employees will help finish every project gracefully. As Richard Branson has said, “Your employees are your company’s real competitive advantage.”
- Cost Reductions
When you decide to build a virtual work environment, you are also choosing to save a lot of money for your organization. Ways in which virtual teams can save resources are:
Office maintenance costs are no longer required for the employees working remotely from their home. The expenses include stationery, internet, and other expenses.
There is a significant reduction in hiring costs. An organization can employ on their own through online platforms or hire cost-efficient services like Cubinox for the complete team building process.
Expenditures on free lunch and snacks, bus transport and office meetings are eliminated.
There is a reduction in Infrastructure costs when a company primarily moves towards the virtual environment. New offices and accommodation building are not required.
- Low attrition rate
Employees often get irritated with waking up every morning, getting dressed and leaving for office. The lack of freedom and poor work-life balance is a leading cause of high attrition rates in the corporate world. In Virtual work environment, employees feel satisfied with the freedom received. They can maintain a balance in their work and social relationships when working from home. This increases satisfaction and subsequently reduces the attrition rates of businesses. Reduced costs of working also keep employees happy and engaged. Keeping your workforce satisfied and energetic is more comfortable with Virtual Workspaces.
- On-point Conversations
One significant benefit of Virtual teams is the efficiency in the communication process. It may seem that effective communication is difficult in virtual projects, but the reality is on the contrary. Virtual exchanges stay on point and remain distraction free. In a traditional office environment, there is a lot of time wastage in the form of unnecessary meetings. Excessive discussions and planning meetings ruin the flow of work in offices. Employees work more focussed in Virtual teams. The speed of work improves, and discussions are precise and short.
- Increased Productivity
Productivity is one of the crucial elements of the corporate world. Management can increase the organization’s growth and revenues by elevating productivity. With all the previous benefits of Virtual teams, productivity is meant to rise automatically. Satisfied employees with low attrition increases work efficiency and reduce time wasted on training new employees. Employees staying with the firm become skilled and give a sharp boost to business results. Precise communication also increases work efficiency. Furthermore, employees do not indulge in gossips and office politics when working for Virtual teams. This habit keeps a positive environment and maintains work quality and quantity.
Benefits disguised as disadvantages
Building Virtual teams have some drawbacks that can be overcome. When the team overcomes them, it increases the benefits of adopting Virtual workplaces.
- Difficulty in making bonds:
Making bonds and connections is a comfortable task in an office environment. But in virtual teams, bonds cannot be made based on these topics. The relationships built on a remote workplace are based on shared values. The bonds formed on deeper values last longer and increase coordination among members.
- Lack of synchronization: Members deliver work in Virtual teams from different time zones. Thus, tasks are being completed 24*7 by various members. Continuous work reduces synchronization and makes it tough to coordinate. However, once adapted to the virtual setting, employees can learn the vital skill of managing asynchronous jobs. Asynchronous work will improve productivity and bring constant progress in the project.
- Communication problems:
Communication process in Virtual teams is lengthy and requires online etiquettes. Unlike regular offices, you cannot go to an employee, tap on his shoulder, and start communicating. With proper training, improving communication skills of employees is simple.
The idea of building a Virtual Team stands out as beneficial in almost every way. Businesses can implement virtual teams in their systems quickly. The only difficulty faced is the hiring process. The available grounds for searching employees are enormous. Organizations can hire employees from anywhere around the globe. So, how and from where to start the hiring process? The answer is Cubinox!
Cubinox is your personal Human resource department. We connect our corporate clients with the best candidates for Virtual team requirements. Why choose us over other options? We do not provide just a list of willing candidates to our clients. Unlike most of the services in Virtual team building, we conduct complete eligibility tests for all candidates. Only the candidates attaining impressive grades in the tests are selected by us.
We, at Cubinox, follow systematic steps of receiving applications, vigorous screening tests, and personal interviews. Our clients receive recommendations for the best candidates in screening tests. Our client can choose candidates from the list. Once accepted, the candidate takes the post of a contractor on our website. He/she can then start working for our client as a member of the Virtual team. Cubinox currently serves clients in over 12 broad industry fields.
We strongly believe that Virtual teams are the future of the corporate world. Various Businesses from construction to healthcare industries are adding the concept of Virtual teams in their organizational structure. With the way the IT industry is advancing, Virtual teams will reach many more sectors in no time.