This chapter discusses telecommuting as a phenomenon where two of the most important fields of the contemporary management - Human Resources (HR) and Information Technology intersect. It demonstrates the transformation of key elements in the structure of the workplace: the workplace environment itself and working time, the period and character of employment, employers and compensation of labour. The chapter also discusses SWOT-Analysis of how telecommuting relates to the individual, organization and the public. It describes the cross-cultural aspects of telework in Russia and distinguishes the types of virtual companies in Russia and analyzes the peculiarities of Human Resources management in virtual companies in Russia. The chapter provides a comparative analysis of the main HR practices in virtual companies involving: Selection, Training, Evaluation, Promotion, Compensation, Communications, Adaptation and Workplace conditions. It also describes the various human resource management instruments used in different types of virtual companies.