Today, in many organizations, a significant amount of work is done virtually. Even in the most provincial of firms, it is rare to find all team members in a single location. Companies frequently choose people from across various global locations to work virtually in an effort to leverage expertise, as well as to save both time and money. With the advent of worldwide crises and events like global pandemics, the context of work is accelerating even more rapidly.
The structure of global business is moving away from traditional hierarchical multinational enterprises to more flexible international arrangements. It has been suggested that organizations will become more flexible, as well as learning and innovation-oriented, and will be realized through the expansion of global virtual teams (GVTs). These multicultural virtual teams provide diverse skill sets, and members’ diverse proficiencies can be leveraged to improve organizational outcomes. As a result, organizing work in GVTs has become the modus operandi. Team members are globally dispersed and heterogeneous across multiple dimensions. Global virtual teams span multiple countries, time zones, cultures, and languages – and they often rely on communication technology rather than face-to-face interaction. GVTs can be seen as catalysts for new forms of organizing, or perhaps even as organizational forms in themselves, changing traditional ideas about organizational boundaries.
The business justification for virtual teams is strong: they leverage expertise and vertical integration across the organization to make resources readily available, as well as increase the overall speed and agility of the organization. In addition, virtual teams draw talent quickly from various functions, locations and cultures. They reduce the disruption to people’s lives because travel becomes less of a necessity and team members can both broaden and deepen their perspectives (and their careers) by working across boundaries and borders on a variety of projects and tasks.
As a leader of virtual teams, your main goal should be to leverage your human capital to its utmost – as quickly as possible.
Beware: How you choose to manage this process may be the difference between success and failureContinue Reading…