The concept might not be new, but I've heard of this term and seen it in a totally different concept. Around a year ago, my boss explained me that "I am looking for virtual staff", who will not be hired by the company and NOT work on our payroll. But will be working for us, in our premises and paid by another company. So the catch is, we pay another company a big amount (yearly) for this service.
Now I don't know how effective that will make things, but sure is being done. I hope to learn from this. So example is; if you have an IT infrastructure , and you need to give support and maintain the network. So what do you do?. Yeah! you hire another company who gives you this service. They will give support and provide you with all the needed help and work. You just relax and your employees are happy too. Why? cos they won't need to do much. They just need to get to the requirements, then pass em on to the virtual employees. So the result is "happy staff", who will not have much stress or load. Plus, you don't need to train your staff too or employee skilled people. cool ey? And yeah you still have to pay the employees and also keep the numbers same. Nothing is changed here. I hope you got the concept.
So this might be just a start, who knows in future we might get companies who will have virtual CEO's, CTO's and even HR Mangers. Even now I know some companies do this. The difference is you keep your staff as they are (with the titles), pay them and hire others to do the work. Neat! Well, I don't know much about management concepts but I am learning. Someday I'd know the advantages and the reasons. As of now I am not "experienced" enough to understand and know the "concepts and reasons"