"Virtual teams provide access to the best local, national and international talent."
A virtual team is a group of people working together to accomplish shared goals without ever, or rarely, meeting in person.
They could be on different floors of the same office, different offices in the same city, different cities in the same country or different countries around the world.
They may also be full time telecommuters who never go into an office.
"The risks posed by ineffective or less than ideal cross-border collaboration and communication can be measured, and the impact on financial performance can also be quantified. That being said, the risks can be minimised by smarter recruitment and a workforce that is trained to handle the rigours of operating on an international stage."
Competing Across Borders, Economist Intelligence Unit
Ensuring a remote team delivers on their objectives and performs as well as, or often better than, office based teams is founded on their virtual team training.
Everyone in the team must know how to engage and be genuinely effective when they work remotely.
"Nortel estimates that they save $100,000 per employee they don't have to relocate."
Global Workplace Analytics.com
"Work-life balance is key for attraction and commitment."
Corporate Executive Board
Creating virtual team strategies that provide a better quality of work-life balance will help you motivate and retain employees who could be telecommuting 100% of the time or hot-desking at an office or co-location nearer their home.