Outsourcing: When and Why you Should (and Shouldn’t) Do It
Managing a business can sometimes be exhausting task. It requires you to oversee every process that takes place. Since you also have business tasks to accomplish, you tend to miss some equally important matters. But thanks to outsourcing, those can now be delegated.
Outsourcing is basically the practice of enlisting or obtaining goods and services outside of the company, primarily from another agency or a supplier. It allows you to distribute tasks you can’t attend to instead of having an in-house team or employees handle the said tasks.
Why you should outsource
You’re getting overworked and stressed out.
Yes, being busy doing paperwork, attending business meetings or a branch opening can be signs your business is booming.
But look at you. Are you still able to oversee all business matters? Can you still sleep well after an overwhelming day?
When you outsource some of the business functions you have, you are essentially reducing your workload, enabling you to focus even more. Outsourcing gives you a chance to work without getting stretched too hard.
One or several parts of the business are underperforming.
Because your utmost attention is in some parts of the business, other areas can’t catch up, and become stalled in terms of development.
Outsourcing is the fuel those areas need to regain its performance. For example, if you think your business promotions are lackluster, try finding a digital marketing agency that can fill the slack for you.
You’re looking for fresher, better ideas.
It is important to note that outsourcing agencies are skilled in whatever endeavour they are filling in.
For example, you want to come up with a marketing campaign that should attract a younger audience. Branding and marketing agencies can definitely help you with that.
You want to save up.
Part of a company’s cost effectiveness is cutting down costs while maintaining the same quality service.
Having in-house staff for certain tasks can eat a lot from your budget, especially if they provide you subpar outputs. Why not try to outsource some of your business functions?
That way, you are getting quality results while keeping the bag stable.
You’re growing exponentially.
Even companies that are growing need outsourcing, because expanding means more staff members to do daily business tasks.
It is also cost-effective, because you get the same quality output from the agency while you don’t need to take a lot for their salaries.
Knowing how outsourcing can help or hurt your business must be at the top of your list if you’re looking for one.
Outsourcing advantages
- Access to a quality talent pool - When you outsource, you are provided with talents and agents that can fulfill specific tasks with quality - all with ease. There’s no need for a lengthy recruitment process to find the talent you need.
- Cost-efficiency - Outsourcing saves you a ton of money. We’ve already mentioned the salary side, but another benefit from it is you don’t need to purchase additional materials or office space for them to function unlike with an in-house team. The agency already has their own equipment and office to work with.
- Focus on relevant tasks and functions - Many outsourcing agencies can do specified tasks such as bookkeeping, customer service, and content creation. It gives you time to focus on other business aspects.
Outsourcing disadvantages
- Difficulty in maintaining accountability - Since the team is away from your seat, you can’t monitor them and their progress, and implementing traditional management practices will be hard too.
- Lack of communication and belongingness - Disconnection and isolation are two things that could hamper the relationship between your company and the agency. They might feel disconnected from your team, and their conflicting schedules might also affect some business matters.
- Security and confidentiality issues - Since you will share a lot of company data and information with the agency, the security is something that must be settled first before doing any business with them.
Outsourcing can really work wonders for your business. But be when looking for your next outsourcing agency. Find what you need and be responsible with your choices.
And for better results, outsource your business functions with us, Elephant in the Boardroom! Contact us now at +61 37018 7620 or see how we can help at www.elephantintheboardroom.com.au.
