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What are some of the major benefits for having virtual teams?

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What are some of the major benefits for having virtual teams?

September 13, 2006
By:  Lynn Marotta

Today's global economy requires creative thinking and innovation to maintain that competitive advantage. One way companies are dealing with global business expansion is to implement virtual work teams, which allow people to work together without geographical restrictions.

There are many benefits for having virtual teams in today's economy. This article takes a look at few of the biggest advantages corporations can realize as a result of incorporating the use of virtual teams.

  • Worker talent not limited to one location -- This is the biggest defining difference between virtual teams versus traditional teams. With virtual teams, workers can be recruited and utilized no matter where they are geographically located. This greatly expands the talent pool available to an organization as workers can be dispersed anywhere throughout the globe.
     
  • Increase in productivity -- Virtual teams often see an increase in productivity because more personal flexibility is achieved, commute time is reduced, and work is not limited by the traditional 9-5 work day schedule. This advantage can translate to a much faster time to market for new products and technology.
     
  • Extends market opportunity -- Another benefit of geographically dispersed teams is direct access to different market opportunities. Having work teams located in different areas of the world allows organizations to have direct market presence with customers worldwide.
     
  • Greatly reduces costs -- One of the biggest advantages organizations realize from virtual teams is a huge reduction in travel, which results in big cost savings.
     
  • Increased job satisfaction -- This can be looked at as a somewhat indirect benefit of working on a virtual team, but a benefit none the less. Workers who are allowed to work virtually often are much happier on the job because they have more control over their hours, projects, etc. Increased job satisfaction almost always means better performance.

While there are many advantages to utilizing a virtual team, the benefits are not inherent in the establishment of the team itself. There are some risk factors that need to be recognized at the outset. Some of the risks that can affect a virtual team's effectiveness include:

  • Miscommunication problems are more likely to occur -- Virtual teams can be plagued by miscommunication when they lose face-to-face interaction, if they are not careful. This can derail an entire project so ground rules should be laid out at the outset.
     
  • Lack of project visibility -- Care must be taken so that workers feel a part of the big picture. In order to maintain the advantage of increased productivity, teams need to know their part in the entire project as a whole.
     
  • Logistic difficulties -- If teams are dispersed across different time zones, it can be very difficult to get in touch with one another. It is important to establish the agreed upon means of communication at the outset.

If care is taken to deal with some of the potential problems at the outset of the establishment of the virtual team, your company is likely to experience great benefits as a result.

About the Author
Lynn Marotta is a successful freelance writer and contributor to Web-Conferencing-Zone.com.  Your definitive guide to web conferencing services, online collaboration software and web meetings for business.

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