Reduced Time to Market - Since the members span the time zones, there could be different team working on the same project 24*7, so when one member sleeps there will be another one somewhere else who would start work where the former had left. This shortens the product development time as well as faster response time to demands in both global and local markets.
From my experience, remote team members have allowed my company to recruit from a larger talent pool worldwide versus being limited to the geographic location where our offices are located. From an employer's perspective, by going the contractor route (versus just remote), you pay for only the work being done, instead of a full payroll, while allowing flexibility and freedom within the position. - Shane Hurley, RedFynn Technologies
Virtual team is an emerging new-age trend with followers across business sectors. Just like any other new trend, virtual team also has to undergo strict scrutiny of researchers to weigh its advantages and disadvantages before being accepted by the professionals. The advantages and disadvantages of virtual teams can be looked upon from three levels - individual, organizational and societal as a whole. This article summarizes different perspectives on the advantages and disadvantages of the virtual team and serves as ready reference guide to our readers.
The conversation is twofold: Employees who work from home help companies reduce overhead costs, experience greater satisfaction in their jobs, and they’re more productive, but companies ultimately have the discretion to not offer work from home policies — or revoke them — if company leaders believe that managing a virtual workplace decreases speed or hinders collaboration.
Collaborate about team expectations and goals. Be sure that expectations and goals are clearly stated for virtual meetings. If working in a team, allow everyone to work together to create the team’s expectations and goals. This will set the standard for what’s expected from everyone, and allow everyone to agree on meeting protocols, such as how to resolve conflict and make group decisions.
From my experience, remote team members have allowed my company to recruit from a larger talent pool worldwide versus being limited to the geographic location where our offices are located. From an employer's perspective, by going the contractor route (versus just remote), you pay for only the work being done, instead of a full payroll, while allowing flexibility and freedom within the position. - Shane Hurley, RedFynn Technologies

Having a flexible schedule increases the morale of employees and gives them a sense of freedom and agency in their lives that going into a physical office often does not permit. The sense of boosted morale also increases productivity in virtual employees. Responsibility for the work that must be accomplished changes hands from the supervisors who watch over the office to make sure employees are doing their job and arriving on time to the employees, who must meet goals and expectations on their own.
A collaboration and community platform. Virtual workers need a virtual office — a place where they can meet online and hold conversations. It’s easy for virtual workers to become isolated, so a central hub to communicate with colleagues is a benefit. Skype, Slap, HipChat, and Pie are all popular choices. The best collaboration and community platforms connect employees, give them a place to chat and discuss projects, leave feedback and suggestions, and more.
Over the past decade, a rising number of young professionals, primarily from the United States and Europe, have leveraged the use of technology to work remotely and live a nomadic lifestyle. A forecast of employment trends by the World Economic Forum called flexible work, including virtual teams, “one of the biggest drivers of transformation” in the workplace, while a Gallup poll found that 37% of respondents have already worked virtually.
The answer is you hire someone. You trade with someone. You trade them for two hours. That’s what I did in the beginning. Because I remember… I was just really young in my career, very in the early days, and I was running to get to the dry cleaners so I could get my only two suits because if I didn't get them, you know, then the place closes and I can’t get on the plane.
Provide a time tracking tool for remote workers to monitor their billable hours. This is also good to make sure your remote team members don’t get burnt out working overtime. Managers should be able to view this time data and see which projects their team members are working on in real time. At Hubstaff, we use our own software, which supports randomized screenshots, app tracking, URL monitoring, productivity gauges, and detailed time reports. It also provides a breakdown of where someone has spent their time on an organization, project, and task level.
A greater part of the day can be devoted to job duties, projects and other work-related responsibilities because commuting time is eliminated. In some densely populated areas, commuters spend upwards of 10 hours each week just going to and from work. Telecommuters could put to use the saved time by dedicating more of their time to office work, or to achieving a work life balance by spending time with family.
While there will always be the need for full-time, on-site staff, the popularity of remote work might allow you to also use part-timers and save thousands in the process. People are much more likely to consider part-time work if they don't have to come in and can have flexibility, and not every role or company need requires a full-time employee. You also won't limit your talent pool by geography. - Elle Kaplan, LexION Capital
Once you have the right assistant for you they can save you more than 30 hours a week! Read here about some of the ways a PA can save you time, as well as 10 benefits of hiring a PA. For a personal view of how hiring a Personal Assistant can change your life, Polo & Tweed’s CEO talks frankly here about her own experience and the benefits she has seen.
Driving Team Performance: This program is specifically designed for teams that have been together for six months or more. It includes an in-depth assessment and unique benchmarking activities to monitor progress. You will receive internal and external feedback about how to improve your team, as well as specific feedback for the team leaders. The team will be given time to create an actionable plan for improvement. Focus points include developing a shared vision, skill building to improve areas of weakness, and more.

Routine: Just like any other work, one of the main enemies of motivation is routine, and this poses a major risk especially in the virtual medium. Putting in long hours in front of a computer can lead to exhaustion, stress and a bunch of unmotivated employees. The team needs to have a constant source of positive motivation to keep this aspect from affecting its work.

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