For many businesses in current times, outsourcing has been a fundamental way to ‘keep business going’ during unprecedented times of challenge. As far back as 2019, though, around approximately 52% of small businesses in the U.S. planned to outsource at least one business process, and businesses with more than 50 employees were even more likely (66%) to do so. The U.S. is a true pioneer in this regard, since approximately 84.2% of outsourced gigs originate from this country. If you’re considering outsourcing, the following information on the benefits it brings could be useful.
Outsourcing reduces a business’ costs significantly – in fact, around 64% of companies surveyed by Deloitte cite lower costs as the main reason for outsourcing. Just a few areas you can reduce (or eliminate) costs in include recruiting and interviewing, training new staff, office space, taxes, bonuses, inflation costs incurred by promotions, and investment in office equipment. Businesses are able to pay only for the work they receive, thus avoiding payment during quiet times – those in which staff may be waiting for new projects to arrive or new tasks to complete.
Outsourced Teams Can Still Be Motivated And Engaged
Even if most of your staff is working remotely, you can still keep them excited about working from home for your business in numerous ways. These include running productive online meetings with a pre-established agenda, creating social spaces (via tools such as Slack, Flock or Jostle), praising good work, and delegating efficiently. Some companies that outsource run team competitions, and even hold virtual team building events for staff to meet and interact.
Changing Your Mindset
Skilled outsourced staff will not only complete tasks: according to Deloitte, around 17% of companies outsource because doing so helps accelerate organizational transformation. In essence, outsourcing permits companies to harness the talents of people from across the globe, many of whom can make suggested changes to procedures or technology that can make a big difference to a business. During the hiring stage, you can ensure that each task is fulfilled by someone who is highly skilled or experienced in the specific area you need. Remote workers are also, by nature, self-driven. They are able to complete goals within set times, or they know that they won’t be contracted for the next project.
Opportunities To Fully Hire Talented Staff
Hiring imposes big costs for businesses. They have two options: either hiring an external hiring team (which usually charges by the hour) or employing an internal HR team. Salaries for HR managers vary across the board, but the average salary ranges between $91,000 and $120,000 annually. The HR manager’s job is indeed hefty, as it involves tasks such as placing job ads, sharing vacancies on social media, headhunting, and sourcing and screening candidates. By outsourcing employees on a task-focused basis, you can find the right candidate (know that it will undoubtedly take a few tries) by contracting various people for different tasks, and staying on with those showing commitment and excellence.
Outsourcing is an important way for businesses to cut costs and attract contracted workers to fulfil specific tasks. They also potentially help businesses advance in areas like technology whenever businesses take advantage of an outsourced worker’s skill and experience. Finally, outsourcing provides companies with a chance to find talented workers for their full-time team, while avoiding the costs associated with having a full-time or outsourced HR team.