Outsourcing: Analyzing its Effectiveness for Your Company
There has probably never been a better time to consider the possibility of outsourcing for your company. More and more outsourcing companies have been springing up around the country which specialize in a particular aspect of business, and which can offer reasonable rates for their services. Here are some of the reasons that outsourcing may be the right answer for your company as well.
Greater talent pool
It happens quite often in business that there is a shortage of qualified personnel in a given geographic location, and that makes it very difficult to fill certain positions. By working with an outsourcing company, you can immediately gain access to a much larger talent pool, with personnel that could be located physically anywhere in the world, and still accomplish the job you have locally.
Less need to hire more personnel
With outsourcing, you don’t have to bring in new hires as much as you might have had to a decade or two ago. Since there is a very high cost associated with recruiting, investigating, and onboarding a new employee, it can be cost-prohibitive to take on a number of new employees. Outsourcing relieves this need, because you can acquire the talent needed to accomplish certain company tasks without actually hiring anyone, and taking on all of those newhire costs.
Reduced cost of labor
If you do the math on what it would cost you to handle certain positions in-house, compared to what it would cost to outsource those same jobs, the answer will generally be significantly in favor of outsourcing. For instance, if you needed to establish a call service desk to handle a high volume of incoming calls, you might need to pay three or four people for full-time positions. The annual cost of paying those four salaries would almost certainly be much more than what you would have to pay an outsourcing company as your stand-in service desk for the same annual period.
Looking to outsource?
Some small business owners recognize the value to be gained from outsourcing, but lack the funding to get started. Contact us at Revap Capital Group if you’re interested in outsourcing some aspect of your business, but simply need funding to initiate the process, and realize the cost savings to your business.