Why Outsourcing Can Generate More Revenue For New Businesses?
“ Outsourcing is like fill in the loophole of new businesses which makes the journey smooth and more rewarding.”
Outsourcing tasks is not a new concept. However, digital world has made it more convenient to connect the potential companies that offer business and services to each other. 38% of companies agree to be outsourcing their tasks. To sum up in numbers, 2.4 millions jobs are fulfilled by outsourcing the work. People who used to contradict with the idea of letting someone else run your business process have come to an agreement after looking up to the growth statistics of those companies who adapted the format carefully.
“If you deprive yourself of outsourcing and your competitors do not, you’re putting yourself out of business.” ~ Lee Kuan Yew
What are the types of tasks that could be outsourced?
Whenever you come in a troublesome situation where your business structure fails to withstand the pressure; turn to experts from outside your company who would work for you on contract basis. Categorically speaking, business tasks can be divided into 3 headings:
1. Repetitive Jobs: Data handling, customer care services, medical records maintenance, employee’s salary details maintenance, Accounting, etc
2. Specialized Jobs: IT services, web development, manufacturing processes, Tax preparation, etc
3. Expert Jobs: Research and Development, Product Designing, Plant Designing, etc
Why is it beneficial for the new businesses to outsource some of their tasks?
If we go by the words of Larry Elder, “Outsourcing and globalization of manufacturing allows companies to reduce costs, benefits consumers with lower cost goods and services, causes economic expansion that reduces unemployment, and increases productivity and job creation.” Newbies, in the business race, have limited funding which needs to be invested carefully at each step of their business. The reasons that make it appealing are :
1. Complete Your Team Instantly and Efficiently
With ample of options and biding occurring in digital world, entrepreneurs can choose from the different packages as per their budget and requirement. This way, if you don’t have HR department in your company, then you can give away this task to an agency who will take care of all the staffing procedure. The huge database of these recruiting agencies can help you fetch the most efficient employee for your team.
2. No Pending Or Delaying Of Tasks
When you assign a work to someone from outside your company, they tend to finish it on time due to limited period contract. This way, not just that you’ve less work pressure but also remain motivated to do more work.
3. Stay Rooted To The Core Projects
Various management and auxiliary processes are distraction from planning the game to upscale your business growth. To stretch and utilize your hours to work on core projects, you can hire experts who excel in their niche.
4. Reduce Costing On Regular Staffing
Having a huge team, for a new entrepreneur, is not just a dream but even an impossible task to manage. Instead of putting crucial amount of dollars in salary, insurances and training, you could easily hire someone at lesser package and better skills to improve the quality of product and services.
5. Enhance Your Product Quality
Professionals who are offering to work on contract basis are skilled, experienced and highly enthusiastic to provide their best insight to your company to gain your interest so that you’re willing to provide work to them on long term. This, ultimately, elevates quality of product and services that your company provides to your customers.
Despite of much contradiction from the group of stubborn thinkers, new minds have brought this concept to life. The culture that supports customer satisfaction has forged a path for global involvement of people. Who likes to get stuck in time? Follow what’s new and inspires change.