The shortage of physical space and the expense of maintenance related to each individual has changed the workplace dimensions from physical to virtual companies. Virtual companies’ concept is based on the strategy that makes the employees work from home through telecommuting. However, the thought of working from home is not something very acceptable to everyone in the world. There are different opinions on the idea of working from home. The advantages of working from home would be understood by the one who wants to have a flexible working environment.
The task of managing virtual teams can be one of the most challenging things when the employees do not have basic knowledge of technical matters. The performance of the virtual teams would become difficult to measure. A 100% virtual team can be managed by adopting ways to match the nature of the work in which the virtual teams are involved. There are several ways companies based on virtual teams can adapt to manage the workforce efficiently.
The design of the policies and procedures should not be based on the conventional business style. Virtual companies are one of a kind. The formality of the companies must go hand in hand with the advanced technology adopted by the company. This means that each procedure, including the recruitment process, code of conduct, and resignation, should be based on virtual communication methods. The virtual teams should have a portal through which each member can communicate with the other members.
Virtual companies should go for the right professional that can be a good fit for them. A 100% virtual company must avoid involving in business that deals with the exchange of products and services. There are several options, such as digital marketing, content writing, programming, and logo designing. Such opportunities do not add any physical products, and this is what gives the business an edge to survive in the market.
The next in line is the choice of employees that are chosen by the virtual companies. It is easy to find people who can do specific jobs in a specialized field. However, not everyone can have the ability to understand the technicality of the operations of virtual companies. Furthermore, virtual companies cannot train the employee in the same ways as compared to conventional companies.
Another feature of the virtual companies is related to the flexibility of the timings. A virtual company does not bind its employees to work daily in a routine. Virtual companies are concerned with the total hours and tasks assigned to the virtual teams. As the virtual teams work from home, there are no restrictions on the break timings or the total number of hours to be served daily. The teams coordinate with each other and complete the tasks assigned to them. This is the reason why virtual companies do not have any defined policies and procedures regarding attendance.
A virtual company is always proactive in its approach. This means that the company would not wait for the last moment to come up with a solution. They have to be one step ahead in terms of possible problems that occur in a routine. For the same issue, the virtual teams are involved in routine maintenance. This task of maintenance is done every month to avoid any future problems of the whole company’s network. Furthermore, there should be a margin in all the tasks done by the company. This would help the virtual company to resolve any unforeseen issue and process the operation without any significant loss.
Another thing that is done by virtual teams is related to technology. Virtual businesses are based on networks on which each member of the company is active. These companies make sure that the technology used in the system is the best and most efficient. The company saves a considerable amount on the physical office setup. Thus, that amount is invested in implementing the latest technology available in the market. A virtual company is not involved in the old method; even the most traditional tasks like bookkeeping are done through the latest technological alternatives.
The last one is related to the importance of face time. The technology has been used by so many people all around the world. However, a virtual company would understand the value of face time. A virtual company must ensure that the company’s tasks are done by the person who is hired. Meetings are one of the essential parts of any company. In a typical company that has employees available at the workplace, the conference can be done at any time. However, a virtual team would have to use face time for routine and monthly meetings.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.