If you had more hours in the day, how would you use them?
Now let us ask you this - if you had more time for your business how would you use it?
The truth is, we can always find more time, but often menial everyday tasks can take up a large chunk of that. This is when outsourcing could be your best option.
Outsourcing as a strategy to grow your business is used by many and the trend is only increasing in number.
The two main reasons companies are looking to outsource some tasks to specialists in the field are as follows;
· As a way to reduce costs
· For business transformation
We’re focusing on both the reduced costs and business transformation in the sense of growth. How outsourcing can help you achieve those things.
What are the signs you should consider outsourcing?
Think about it this way, why is your core business your core business?
It’s because your team are all experts in their field. It would be a waste of time trying to be an expert at everything. Focus that energy on why you started your company and do the best you can for your customers through the product you offer and leave some other business tasks to specialist small companies, freelancers or remote workers.
“Online freelancing platforms are transforming work, organisations and their business models.” Similarly, Accenture has identified online labour platforms as part of a major trend that it says will significantly transform existing organisational forms and management models by 2022”
What to consider when thinking about outsourcing.
See what requires a permanent new position and what is worth delegating. In some cases, you will need more employees to be there around the clock. For some tasks, such as recruitment, it may not require someone on a full time, permanent basis, but a flexible service that comes into it's own during periods of operational turnaround, transition or growth.
Look at your strengths and weaknesses. What are your employees' core skills and where are people being stretched too thin? For example, HR shouldn’t have to split their time trying to juggle recruitment as well as employee engagement and retention. Separating those tasks and entrusting the experts to dedicate all their time and with the right resources will ensure HR can focus on what’s most important to them. That is, looking after your employee’s wellbeing to ensure retention and minimise high staff turnover.
Look at your costs in terms of workspace. If you were to take on new hires to help HR with recruitment in-house, would that require more office space? Requiring a move, costing more throughout the year.
Automated processes aren’t perfect. As advanced as automated processes are, they still require people to manage them. By using say, automated processes in your hiring strategy, it could be ruling out viable candidates. The best solution is still a personal touch.
So, when deciding on which tasks should be outsourced, decide when these services are needed throughout the year. Weight your options to find the most cost-effective solution.
What are the signs you have found a good outsourced partner?
Their credentials. As obvious as this may seem, here we are referring to their testimonials and personal references from those within your professional network or that they have provided. Also, look at things like their social media. Are they up-to-date, involved in the trends and discussions of their sector? Professional development never stops and those who are always developing their knowledge are the ones, who like you, are thinking about the future.
They feel like an extension of your business. An outsourced partner should understand your company values, mission and vision. They should work alongside you with a clear understanding of what is expected of them. To reach this point, make good use of the preliminary stages. Spend time with them and their proposal and really work on looking at the results this new partnership will drive.
Trust. As with any relationship, there has to be trust. If you start to micro-manage your outsourced partner it will interfere with the time you have created to grow the business using your strengths and gets in the way of the outsourced partner focusing on what they are best at. If you’ve spent enough time at the beginning stages creating clear goals, it is up to the outsourced partner to deliver their promise.
Here at Mployable we have found a balanced model that allows us to be both a company for outsourcing as well as working on an in-house basis. Talk to us today and see what we can do for your business growth.