In-house or outsource, any choice that an organization makes, it takes out the positive elements, as in the benefits from that. The huge pledge behind every organizational goal is to be never taken lightly. The high turnover rates, excessive capital outflow, the lagging efficiency, the risk involved will ultimately make organizations take up the direction towards outsourcing.
Top 10 ways Outsourcing can help your business
- Be on the Global Scale
- You may be contracting your work, but outsourcing is actually a perfect tactic for global collaboration. The greater returns are not only in terms of better savings (reduced operational cost) but also in making new acquaintances.
- Reduced IT Expenses
- Fixed expenditure Vs pay as you go model, which one you think will be a benefit for an organization?
- It’s obviously the pay as you go model, in case you have a budget crunch.
- The high costs that will incur in hiring trained resources will make you approach a less-expensive solution. It can be a couple of months and full-year contract but outsourcing will give you a better chance to operate and deliver the goals at a lesser cost.
- Access to better Skills and Qualifications
- A ticking clock, the approaching deadline; finding a right candidate with right skills at the last hour, will the organization succeed in this mission? Also, being too picky about the cost or bargaining with time for recruiting resourceful candidates at a lesser price will be detrimental.
- “A trained personal at your disposal” one should be pleased to know that the professionals that we hire (while outsourcing) will be competent enough to handle complex business challenges within your business structure.
- Reduced Turnover Rates
- What is turnover rate? (The employee turnover rate)
- With reference to human resources, ‘it is the percentage of employees (new hires) who leave the company within a certain period of time.’ The bigger problem here is the high turnover rate can actually hurt the goal achievement cycle of an organization.
- Great turnover rates are the result of a bad recruitment process, like most of the times I believe. In such cases, organizations if they approach professionals from outsourcing firm, they can reduce turnover ratio and commit themselves to bigger challenges.
- Focus on Core Business Practices
- Do what you are best at, such a short message, but to who and for what?
- I know with tight funds sometimes you may feel like managing and executing every small work in your organization, but that is not how you do a better business. For instance, recruiting in-house resources may seem a very small activity, like fulfilling some minor need, but beware, you are jeopardizing yourself. Because
- i. Your focus will be away from core business operations
- ii. You will perform a hasty recruitment process
- But wait, you can definitely avoid these by outsourcing even such simple activities.
- Increase the Productivity Time
- The advantage of time-zone difference can help you increase the production rate at a greater speed. It’s a fast pace world and everyone would definitely appreciate if things are executed well before the planned span of time or within the time at least.
- Just think, at the end of the day you have sent some work to your outsourced vendor, who is in a different time-zone and by morning you have your work done.
- Access to Updated Technology
- The current market scenario demands you to stay updated with the latest technologies. And with a start-up business your budget may support you neither buying new software nor hiring and training new staff, so what will you do?
- Circumstances as such will arise for every entrepreneur and such scarcity (trained professionals) he should handle smartly through outsourcing.
- Going with the Competitors
- Your competitor has more than 100 employees; you have a small team say, 10 members? Will you chicken out seeing the numbers?
- By outsourcing to multiple professionals you can stay in the competition without having to burn your pockets or the lamp.
- Efficiency & Competitive Advantage
- Just consider that I’m continuing with what I was explaining in the previous point. It’s common to face the cost burden if one wants to stay in the global market. The fluctuating challenges may push you to do more research tasks, which is actually time-consuming and expensive.
- Even by being one of the economy companies you actually stay in the competition without losing on your capital, how? Just outsource!!
- Being Flexible to Customer Demands
- What is the best thing about outsourcing a business process?
- You are serving a customer, who demands everything to be good, updated, and according to the market. And the worst part, you cannot say to him about the lack of resources or knowledge you are facing, will you lose him to your competitor?
- Of course not!! Play smart by outsourcing to professionals and make sure that you are earning stars for your service.
