Virtual teams in the global economy
Virtual workforces are increasingly common among organizations, which has led to the growth of telecommuting, and brands are using technology to stretch beyond the confines of their own borders to recruit top-notch talent.
But it’s not just technology that has made telecommuting so lucrative, it’s time and money. Consider the fact that over 70 percent of the world’s purchasing power is located outside of the U.S., making global business ever more important as the American economy struggles. For example, 97.8 percent of all of Nestle’s sales come from outside of the States.
According to Global Workforce Analytics, in 2011, there were 3.1 million workers in America that telecommute, a number which is growing and will continue to grow, up 73 percent from 2005 alone.
But telecommuting is more complex than just at-home workers, with a growing number of people working remotely part of the time rather than being a “remote worker,” and more than half of all employees believe their job will be remote by 2017.
The reasons for the popularity of telecommuting goes beyond the rise of technology, it is a popular tool to include talent from around the globe, add new perspectives and talents to a team, and improve diversity of a brand. Virtual teams also serve the function of improved collaboration. Ogilvy, BP, and Nokia all successfully use virtual teams.
The global economy:
Exclusive infographic courtesy of The University of Southern California’s Online Master of Communication Management.
