Six Best Practices for Managing a Virtual Team

The main driver for creating a virtual team, an IT team in particular, is the ability to tap into a larger pool of skilled resources, usually highly specialized, sought after resource. This is particularly important in the alternative investment sector, where the skills gap is widening. A virtual team enables firms to widen the net, recruiting nationally, or internationally, as required.

Research suggests that as well as being able to recruit from a larger pool of expertise, employees are attracted by the flexible working arrangements that a virtual team offers. Firms can benefit from the flexibility offered by a virtual team, particularly if contractors or consultants are used. On-boarding is easier and hours can increase as workloads go up, and vice versa. In these cases, hourly or daily rates can bring cost savings against a traditional full time, permanent employment contract and the increased agility can bring significant competitive advantages.

However, there are many issues associated with virtual teams that must be addressed if the full benefits are to be realized. Many projects fail because of a breakdown in communications and as a result, virtual teams find communication their biggest issue and lack the right technology. Read on for six tips to help you manage your virtual team in the most efficient way.

1. Communicate, communicate and communicate some more. Use multiple communication tools, including video conferencing, one to one phone and email communication, conference calls and instant messaging. If you can see each other, you are more likely to communicate clearly and make yourself understood. Collaboration and project management tools which allow one to many interaction so that the whole team can access information easily, will improve team working.

2. Overlapping working hours, even for internationally disparate teams, will ensure that there are at least a few hours each day when real time collaboration and conversations can happen.

3. Set clear objectives, expectations and deliverables so that each team member understands what is required of them as an individual, but also as a team. By clearly setting out the objectives, team members can see where they fit in to the whole. Team deliverables allow everyone to monitor their own progress against that of the team.

4. Set professional standards for the team to adhere to, even while working remotely. By working professionally and setting clear work schedules, you can ensure that the company culture is maintained.

5. Try and create social interaction and foster interpersonal relationships between team members. In addition to productivity tools, implement social collaboration tools which give team members a sense of community outside of the working day. Meet up in person, even if it’s just a couple of times a year.

6. Finally, be a clear, strong leader who adapts traditional management techniques to suit the new order.