The Future of Work
In 2010, analyst firm Garner predicted that by 2020, half of the world would be working outside of the traditional office setting. Today, an International Workplace Group study shows that 70 per cent of the global workforce telecommutes at least one day per week. Remote workers have increased by 115 percent over the last decade. And Deloitte reports that almost 75 percent of millennials believe that a remote work policy is important.
The nature of how we work is shifting, whether due to technology advancements or generational mindset changes. The data shows that distributed, flexible, and now, global teams are the future, and they’re certainly the answer to creating business resiliency in times of crisis. Now it’s time to ask: what does this mean for your business? Why should you build a remote, global team? And, once you’re ready to do so, what should you do first?
What’s so great about a remote, global team?
A remote, global team gives you two specific advantages: proven efficiency and increased success. The remote aspect brings the efficiency, and the global perspectives increase overall performance of your business. But it’s the combination that gives your business an added measure of resilience, and that is what will put you ahead of the competition. Here are some of the key benefits:
Diversity in teams
Workers on diverse teams are happier and more engaged, and the business benefits as a result. Employees at diverse companies are three times more likely to report feeling happy at work. Employees at diverse organizations are more likely to feel like they belong. Building a remote global team will allow organizations to have more diversity within their teams.
Access to Top Talent
One of the biggest benefits to building a remote team is the ability to hire the best candidates for the business’s open roles, no matter where they live. While local hiring restricts the candidate pool to commutable miles, a remote hiring strategy allows you to build a team of top performers anywhere in the world.
Lower Stress, Lower Turnover
Remote workers feel less stressed. A study by Owl Labs found 86 percent of survey respondents said working remotely reduces stress and improves health. In addition, companies that allow remote work report a 25 percent decrease in voluntary employee turnover.
Having global team members can give organizations invaluable insights into local markets. Local hires will speak the language, understand the norms and customs, and make partners and customers more comfortable in a new market.
This white paper provides guidance on how to build a remote team, the logistics that need to be put in place before getting started, the most effective way to find good candidate, how to train managers and how to create a healthy and empowering work culture.