Outsourcing can help your company get essential tasks completed without hiring new employees directly. You can contract with an outsourced team to do all kinds of job functions, such as sales, customer service, bookkeeping, payroll, HR, manufacturing and more.
Outsourcing Advantages: Save Time, Money and More
Hiring an outsourcer can bring you the opportunity for:
- Cost reduction: You can save money on recruiting, on-boarding, training and employee benefit costs. Outsource offshore and you could save even more.
- Time savings: Hiring an outsourcer with experience in the function(s) you need can likely hit the ground running more, and devote more resources to the assigned task than you could ever afford to hire in-house.
- Leveraging expertise: Outsourcing frees up members of your current staff (and you), to concentrate on your true area(s) of expertise. When you contract with an outsourced team, you can spend your time on higher, strategic job functions or on job tasks you prefer doing personally. You’re also hiring an expert, by using an outsourcer experienced in the function you’re contracting out.
- Competitive advantage: Working with an outsourced team may enable you to accomplish “large company” objectives with only a small staff. Contract out component manufacturing and you could get products to market quicker, and/or with less expense. Hire a call center for customer care, and you’re gaining a larger, experienced workforce–and high tech infrastructure to support the work—without hiring people directly or purchasing advanced phone technology.
The Downside of Outsourcing
- Proprietary leaks: You company secrets (IP, intellectual property) can be at risk, especially if you outsource higher functions, strategic planning, engineering or early design work. Consider hiring directly, or bringing a new partner into your business, for sensitive, high-value work.
- Data breaches: Customer data or company information accessed or stored by your outsourcer could be hacked. Be sure to vet the company you outsource to and understand their data security processes and policy.
- Brand damage: If a poor outsourcer handles your customer service, for example, they can make your company look bad. Offshore outsourcing could potentially be a PR problem. For these reasons, don’t get locked into long contracts and/or be sure you can cancel for non-performance or other issues.
When you need funding for outsourcing or otherwise growing your business, contact GrowthCC for options.