Outsourcing transforms businesses by changing the foundation of employment norms. It is a business tool that allows companies to hire incredible offshore staff at an enormous discount. You basically treat the staff as your own employees, except all of the legal, back-office and infrastructure is taken care of for you.
Simply put, offshore staffing can be a game changer. But it’s important to know and understand how it works, even if you choose not to adopt it for your company.
Here are some of the pros and cons of outsourcing and how to make it work for your business according to Forbes.Benefits Of Outsourcing
1. It can save you a lot of money.
Using offshore staffing can help companies save as much as 70% on their all-in staffing costs due to dramatically lower salary norms. It also removes some of the complexities and costs of employment — legal, recruitment, compliance, taxation, health care and office management, etc.
2. You can access more high-quality candidates.
Offshore staffing means you can access even more prospective employees, as you aren’t limited to local candidates. Plus, the outsourcing company will generally take care of cumbersome and expensive processes for you, including screening, hiring and onboarding.
3. You can double your workforce.
Doubling your workforce means you have double the resources to grow, develop, sell, research, service your company, clients and product beyond limitations.
4. Outsourcing changes lives and businesses.
Not only does the industry provide valuable economic stimulus and job opportunities for all, but it also serves as an avenue for connecting different nationalities across the globe.
Back to essentials: Outsourcing pros and cons
Challenges Of Outsourcing
1. It’s remote.
Your offshore team will be based in another country. You will have to embrace remote work and the default remote tools. But who doesn’t, nowadays, when Covid-19 pandemic has forever changed the whole world’s views on remote work.
2. There may be communication and cultural barriers.
There are a lot of subtle nuances in culture and communication that can have a big impact on quality and deliverables. For outsourcing to work, an employer needs an open mind, a beginner’s mindset and to be comfortable re-learning some management fundamentals.
3. It’s very process-oriented.
It’s a generalization, but offshore teams can be less innovative or agile than a typical onshore team. They tend to thrive when processes are clear. This means you might need to invest in training, standard operating procedures (SOP), process mapping and clearly identify metrics and KPIs before you begin.
In short, outsourcing can take a while to explore, learn and engage with. It can take time to find the right outsourcing partner and to build a comprehensive team. But having an offshore team can be a very powerful asset for your company.
Innovature Consuting, with experience in providing Onboarding Analysts for one of the largest IT staffing firms in the U.S. ensures all candidates and new hires will go through the process with ease and meet all client requirements and the corresponding SLAs for each client, including Data Entry, Uploading Documents, Match Auditing, etc. Our solution and coverage can be summarized in the following chart.
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