The Concept of Virtual Workplace is a new benchmark of the working environment, in cyberspace or real space at any time from anyplace with developing a completely remote team.
Yes! The coming reality sees businesses rule the roost with a Virtual Workplace Concept.
Richard Branson famously stated back in 2014 that “One day, offices will be a thing of the past.” Many individuals disagreed with him but now, in 2020, it appears like it’s happening. Traditional offices are increasingly disappearing from favor as the importance of virtual workplace is rising and more individuals are choosing to work remotely.
With no physical space or office, the team at any corner of the world is well networked along with collaborative working culture for the routine business operations.
It’s chaos on the flip side, owning or having a commercial office on a lease is generally expensive with badly required staff management to tackle the operations in the office.
This is the reason most of the smart sharks are adopting the concept of virtual workplace where the team works mutually through digital communication tools and digital business processes by building a personalized Web portal, android application, iOS application, etc.
It’s turning into the next best frontier in the global market to fabricate a dream team with no boundaries, increase workforce productivity and cut the overhead costs of the business.
Let’s now have a look at the benefits of Virtual Workplace,
The organization can reduce the costs dramatically with the virtual workplace. Those expenses incorporate the cost required to hire and support employees including costs of safety, transportation, utilities and supplies expenses, in office-insurance, travel expenses to attend onboard meetings or conferences, costs of retention, and the cost to outsource employees and utilize external experts. In certain countries companies that acquire real estate expenses were capable of reducing costs dramatically, for example, IBM saves 40 to 60 percent per site annually by eliminating offices for all employees except for those who truly require it.
Productivity is the core concern for organizations. That is the reason you find successful organizations seeking new approaches to enhance and increase it. The virtual workplace plays a significant role in optimizing productivity, of course for the right employees, where the employee feels he requires to prove himself more to show he is competent in working without being physically monitored. otherwise, he will risk getting a red flag. Employees with virtual workplaces are interacting with other communities that are outside their typical environment, therefore building more abilities and more expertise, and also increasing productivity. So by putting more roles and empowering employees, you are pushing them into better productivity.
Also, the general productivity of the organization is being enhanced, by providing more support for its clients worldwide through different time zones.
Increased Market Opportunities
Based upon the last thought we referenced, organizations these days are more able to locate and approach global market opportunities. Since employees are located in numerous locations across the globe, with potentially diversified dialects, exposure to local markets, they can help out their company in making new market opportunities that can return huge amounts of profits.
Best Practices to manage a virtual team
- Define your objectives
Regardless of whether your team is completely virtual or partly virtual, or you are investigating virtual options to enhance engagement and productivity on your team, clearly articulating your objectives will assist you in monitoring and measuring success and function as guideposts along the way.
- Set and maintain expectations
From establishing clear performance objectives to addressing missed expectations, an absence of standard face-to-face contact with your team might present challenges in keeping your team on track. Best practices in addressing expectations incorporate setting SMART goals, checking in regularly and provide feedbacks regularly and timely.
- Identify your toolkit
Experiment with tools and make a system that works for your team. Develop an “at-a-glance” chart to help onboard new team members and keep everyone current.
Virtual workplaces are not only for the benefit of the employee. Businesses can reduce expenses by decreasing the need for brick-and-mortar office space, and they can find and hire exceptionally qualified individuals who are unable or unwilling to relocate. Some other advantages for businesses include boosting productivity, encouraging employee retention and “going green” by keeping more cars off the road.