Distributed working is the way of the future. In 2016, 43% of working Americans worked remotely at some point during the year, and both employees and employers are seeing that there’s plenty of upside to working solutions that go beyond the standard office arrangement – and standard office hours.
Let’s take a look at some of the benefits of working with a virtual team.
1 Break away from 9-5
The standard working day is a thing of the past. Working with clients in different time zones and even different countries is no longer only something that enterprise-scale businesses do. Consultants, small businesses and start-ups all leverage the power of the internet to work with clients and customers all over the world. This necessitates working across different time zones, as well as working more flexibly than 9-5 allows.
With a virtual team at your disposal you can leverage the power of geography to ensure all your client time zones are covered – and it’s much easier to get those last-minute, late-night or weekend tasks sorted out.
2 Take your pick of talent
When you’re tied to a physical office space you’re at the mercy of the local talent market. The applicants you need to grow may not be willing or able to relocate, or they simply might not be around in the first place. Hiring on a remote basis means that you have a larger pool to select from. Not only that, but you’ll get happier, more accomplished staff.
Remote work ticks the essential “flexibility” box for today’s employees – and given that some 45% of Millennials would choose workplace flexibility over pay, it’s a great card to have up your sleeve. There’s also evidence that virtual working helps balance the gender gap, which is another plus in its favor.
3 Scale cost effectively
Many small businesses teeter between profitability and ability to meet demand. Having only one or two principals at hand can see the turnaround time for deliverables slow down, especially during busy times. The obvious solution is to add staff. But for a young business, hiring full-time, in-house workers can very quickly eat up a large portion of your profits, especially when demand comes in ebbs and flows that are hard to estimate. When you realize that a base salary also includes social security, 401K contributions, healthcare costs and leave, those costs become even harder to justify.
Working with a virtual team minimizes the costs associated with hiring staff, allowing you to scale in a way that won’t put your growth in jeopardy. You’ll be able to build a team without the typical staffing costs – and you’ll be able to hire quickly, which is essential if you’re struggling to meet demand for your services.
4 Say goodbye to overhead
Nationally, the average cost of renting a high-rise office space is $43.70 per square foot. These costs can be prohibitive for small businesses that might only need one or two desks – you may find yourself paying for meeting spaces and amenities that are only rarely used. Working with a virtual team lets you minimize rental overheads, as well as expenses associated with utilities, equipment and supplies.
And with the rise of virtual offices, you can still get the benefits of a prestigious address without having to write a large check to a landlord. That’s great news for your bottom line.
5 Three cheers for the environment
According to the US Census Bureau, 76.4% of Americans commute to work by car. With the average commute time now 26 minutes and rising, there’s no denying that our daily gridlock isn’t great for the environment. When you work with a virtual team, you cut out the commute – and its associated pollution.
Additionally, being able to hold staff and client meetings virtually rather than face to face reduces the environmental cost associated with flights, taxis and driving. The earth will thank you, and your team will appreciate the reduced travel time associated with distributed working.
6 Working apart means better working
With fewer distractions, a better work-life balance and no daily commute, remote working results in better work outcomes. Cisco has found that employees are more productive when working remotely, and are more likely to meet their deadlines and do better quality work. MIT Sloan concurs, noting that dispersed teams often outperform centralized teams, especially where communication and processes were emphasized.
Flexible, virtual and non-traditional working is on the rise, and when you consider the benefits to both employees and businesses, it’s not hard to see why. If you’re looking to grow, cut overhead or add some flexibility to your way of working, consider going the virtual route.
Not sure if a virtual team is right for your business? Or don’t know what you’d use a virtual assistant for? Download our FREE Guide – 29 Things You Could Hand Off to a VA Today – and see just how much time a virtual team could free up for you!
Ready to get started? Schedule a discovery call with our team – let’s talk about your business and what’s keeping you up at night. If it’s something to do with running your business, odds are…we can help!
