Organizing virtual teams are gaining popularity due to its effectiveness in streamlining costs without compromising productivity. Virtual teams are composed of people who work online from remote locations, often across geographically dispersed regions as India and the Philippines. People who make up these virtual teams go by many names; Virtual Assistant, freelancer, telecommuter or home based worker.
In a study conducted on US companies that used virtual teams yielded the following numbers:
- 13% increase in productivity
- US$1,900 cost savings per head
- Virtual teams make up 30-45% of US companies; in 2011 it was 15% to 20%.
If the largest US companies are finding success with virtual teams, small business should be more confident implementing the strategy in their development plan. But how do you outsource services to a virtual team, in Australia?