What comes to mind when you think of outsourced work? To customers, it might be synonymous with . To a growing business who needs extra help in a specialized area, it can be perceived as quite the opposite.泭
Is outsourcing risky? Is it just as beneficial for businesses as it is for their clients? And when should you even consider outsourcing, anyway? Were breaking down all the myths and how-tos right here, so read on to learn more.泭
What is outsourcing?
Outsourcing involves a company contracting a task or defined portion of work to an external professional, company, or service.泭
Arrangements will vary, though the professional is typically paid on a project-by-project basis and is not a member of the employers payroll.泭
Why outsource?
A common misconception of outsourcing is that it correlates with businesses trying to cut costs or corners. But when done , outsourcing can be a great asset to your growing business.泭泭泭
Sure, outsourcing has the potential to save you money, but there are several reasons why it could be a good option:泭泭
- Lessens the time it costs to train new employees泭
- Benefit of working with professionals with expertise in certain areas when hiring them full-time isnt an option
- Finding talent you end up onboarding full-time泭
- Eases up workloads and allows you to focus your energy on running your business
In-house vs outsourcing: Figuring out whats right for your business
While outsourcing has its perks, its easy to fall victim to the idea that it means duties will always be done more effectively and at a lower cost thats not always the case. So, here are a few questions to ask first to help you assess when to outsource, and when its better to utilize in-house resources.泭
Will it make my team more efficient?
If something is taking your internal team too long to do, it likely makes sense to outsource it. Especially if the task is highly specialized and your existing employees don't have the expertise to take care of it, bringing on someone temporarily who spends their time immersed in that particular area is the way to go. That way, youre able to put your energy into what you do best.
Could it do more harm than good?泭
An outsourcing initiative is only worth pursuing if it can create a strategic advantage. If its merely used as a band-aid solution to deal with larger issues that could hurt your business in the long run, it isnt worth it.泭
We recommend keeping tasks related to your essential business functions in-house. Otherwise, your team will become reliant on outside help, which can hurt your companys culture and overall health. Giving your employees tasks that are critical to the business success is essential in keeping them engaged and motivated to do great work.泭
What are the risks?
When deciding whether to hire in-house staff or outsource, its important to look at your business needs and weigh the pros and cons.泭
An important thing to remember is to not get caught up in what other companies are doing and assume whats best for them is best for you. Just because a competitor doesnt outsource a production team for an ad, for example, doesnt mean you shouldnt it could be that their content marketer has experience in that area and theyre able to leverage their strengths.泭
The bottom line
Deciding whether outsourcing, like any business decision, is right for your company comes down to a thorough evaluation of your needs.泭
Is the risk greater than the reward? Are you hindering your own growth by handing off essential business functions? We recommend seeking out help for mundane tasks that dont play a role in your competitive advantage, and figure out whats best for your business.泭
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