Is outsourcing right for your business? If you’re at the stage where you need some extra hands on deck, you’ll need to determine the best and most cost-efficient options. The question becomes, do you hire individuals to work in-house, or do you outsource? This post focuses on the latter, discussing the critical benefits of outsourcing. Take a look at the points below to help you determine what is best for your business.
Save money
Saving money can be the most significant benefit of outsourcing. Yes, you may have to pay a hefty fee to outsource certain services to large companies, but think about the alternative. If you hired your own team of employees to do the job, then they come with extra financial requirements. You have to include the cost of an employee benefits system as well as pay them a salary. That’s not necessarily cheap, and you still have to consider things like sick pay, annual leave, and employee healthcare. When you add it all up, outsourcing can be more cost-effective for businesses.
Fewer employee conflicts and mishaps
By outsourcing some of your jobs, it means there are fewer employees for you to manage. As a result, there will be fewer mishaps in your business. There’s less chance of someone getting injured at work and their seeking legal help with a work comp claim. You, in turn, may have to hire an attorney if they attempt to sue you. When outsourcing, you also don’t have to deal with internal affairs like employee relationships being put under strain or office arguments. Therefore, with fewer mishaps and conflicts, you spend more time actually concentrating on the tasks at hand. Plus, there’s not as big of a chance that something scandalous happens to your employees, which damages the company reputation.
A more experienced/talented team
Another benefit for your business is you get to hire a team that works together and is proven to be talented. For example, let’s look at one of the most popular things to outsource – marketing. If you were to create your own marketing team, you’d have to hire individual employees. While they could all be highly talented, you have to spend time bringing them together to function as a team. When you outsource and pay a marketing agency to handle things, you know they have a talented team in place with a proven track record to help you succeed.
Saves a lot of time
Lastly, you will save so much time by outsourcing instead of hiring individual employees. There’s no need to put out job advertisements, conduct interviews, screen candidate applications, and so on. Just conduct a bit of research, then outsource to the best team for your business.
When you outsource various functions of your business you can reap some sizeable benefits. However, it’s vital to understand when you should outsource and when you shouldn’t. For smaller jobs, like a designated admin assistant, it may make more sense to hire some in-house talent. If you ever need to bring together a team, then outsourcing can be the best option. It can save your business a lot of money, time, hassle, and you get an experienced team working for you.
Carolyn R. Owens has over 25 years of proven experience and serves as a Career Strategist, Executive and Leadership Coach. She is the President of Infinity Coaching, Inc. where she can help you up-level your skills, so you can up-level your income, career, business or life. Infinity Coaching, Inc. provides coaching, organizational training, personality assessments, and a signature program, the Infinity Coaching Inner Circle. Carolyn is certified to give both The Energy Leadership Index Assessment and Myers Briggs Type Indicator Assessment. You can find out more he about both assessments and other products and services at https://infinitycoaching.net.
