Every company’s dream is to succeed. And, in order to do so, organizations need to expand by leading the business in the most efficient way. Which essentially means lowering their operational costs while maintaining a high quality of service(s).
…Sounds pretty easy right?
When it comes to any growing business, there’s a rise in demands such as time, work, money, people, specialized skills, etc.(.) And as the global market continues to become more and more competitive, many of these thriving businesses need additional support to help them stay in the race. Otherwise, they’ll end up being left in their competitor’s dust.
So, if you’re reading this article and you’re already thinking to yourself that your demands are in much need of some professional assistance. However, you can’t afford to hire on that extra (in-house) person, don’t stress! In this day and age, business help and support are virtually everywhere — we’re talking about outsourcing.
What is Outsourcing?
Outsourcing your business involves giving projects or parts of your business to an outside individual or company that specializes in that specific work. Historically, the term outsource has been used in the context of logistics and fulfillment. But today, businesses outsource anything from freelance workers needing help with bookkeeping to large companies wishing to offer better customer service. Ultimately, it’s on the rise and can be a tremendous asset to your company.
Typically Outsourced Tasks/Jobs:
- Content and Social Media Marketing
- Customer Service / Support
- Inside Sales
- Accounting / HR management
- Web Design and Development
- Data Entry
- IT Services
Why Choose to NOT Hire In-House?
The idea of hiring someone outside of your business may seem daunting. However, you don’t need to hire new full-time employees to support your growth. Nowadays, it’s getting easier and easier to connect with qualified professionals all over the world.
Taking the first step towards outsourcing can be time-consuming, and this can be the main reason businesses are cautious about giving it a go. But, figuring out how to build your business with help from outside professionals can be a good solution for all types of businesses. It offers cost-reduction opportunities, increased efficiencies, and economies of scale, not to mention, give you access to skills you are currently lacking
In fact, according to Deloitte’s 2016 Global Outsourcing Survey, 59% of companies outsource to reduce or control costs, another 57% say it enables focus on core business functions and an additional 47% of them say it helps to solve capacity issues.
What to consider...
The decision to start outsourcing business-related tasks or projects isn’t an easy one. You have to consider your budget and you also have to consider how willing you are to let go and let someone in to help. However, when you do decide to make the transition, you can then focus more of your time, attention and resources on your company’s core competencies — and spend your time setting new goals and finding ways to achieve them.
When's the Right Time to Bring in Help?
For every business, the right time to outsource is different. Some companies might have enough in-house staff to handle daily activities. But for new projects, that don’t warrant another full-time employee, they may need to consider bringing in outside help.
PRO TIP: Don’t outsource something just because you don’t want to do it. Sometimes there are things you don’t want to do but they’re important to your core business. So when you and your current employees are unable to manage the day-to-day business of your company and continue to build the business satisfactorily, it may be time to consider outsourcing.
No matter what outsourcing looks like for your business, here are five signs that are clear indicators it’s time to outsource some of your work.
5 Obvious Signs You Need to Stop Hiring and Start Outsourcing
1. You Have More Work Than Time (The Most Obvious Sign)
What’s wrong with having lots of work?!?! Most organizations’ would say that this is a wonderful problem to have. However, what they don’t understand is that, although this situation can be a blessing, it can also be a curse.
Think about it… you’re not helping your business when each day you’re running out of hours because tasks keep piling up. Moreover you could be missing out on doing something else that really needs to come first, or what may be coming down the pipeline. This soon becomes a repeated problem and the next thing you know, you’re losing precious time.
What’s worse — and most people don’t even realize — is that you never seem to have extra time to spend with your family and friends (everyone needs a healthy work-life balance). Working more hours yourself is not always the best answer, but outsourcing is! At TechtonicSales, we can help free up your employees so they can focus on their primary business goals.
2. Hiring a New Employee is Too Expensive
Adding that extra headcount to payroll can get expensive. In addition to salaries, most companies are also responsible for an employee’s insurance, payroll taxes, and benefits, etc.(.) This says nothing of the expense that goes into training and start-up costs. Likewise, the money spent making sure they have the materials and tools required to do the job. For instance, computers and other devices, different software, education, and office supplies. When you add up all these costs, outsourcing is typically much lower than the cost of hiring someone full time. Therefore cutting operational expenses and helping you increase profits.
The bottom line is if you can’t afford a full-time employee — and don’t worry, you’re not alone — you should be outsourcing.
3. Certain Areas of Your Company Need Specialized Skills
One employee can’t be skilled at absolutely everything (wouldn’t that be nice). Sooner or later, you’ll have a task or project that can’t be fulfilled internally, and a specialist will be required. Trying to carry out specialized tasks yourself or asking workers to take on tasks outside of their field/comfort zone can result in projects not be done properly. Ultimately affecting the quality of work being done.
It’s important to remember that the decision to start outsourcing is about supplementing the departments you already have. Not replacing them or taking them over.
4. Customer Satisfaction is Starting to Suffer
No business wants to experience a decline in customer satisfaction. It’s a vital piece to business success, especially now. Nowadays customers expect to be able to get in touch with someone and get answers right away. In other words, if your business is running at, or over capacity, the level of customer satisfaction can take a dramatic drop. Resulting in emails slipping through the cracks and calls going unanswered.
Delegation and automation can come to the rescue when you find yourself unable to keep up with all the work. Amongst other things, properly implemented Customer Relationship Management (CRM) software will ensure that follow up communications are carried out when they need to be. So, with the right partner, outsourcing can increase the quality of your business’s interactions with customers, leading to more loyal customers and a significant surge in ROI.
5. (You’re at Capacity) You’re Turning Down Work and Other Growth Opportunities
When your company seems to not be growing as fast as you expected. Or you’re getting the sense that progress is plateauing, it’s a clear indicator that something is wrong. Too many business owners have a plan to grow their business but don’t realize what resources they need to actually achieve it.
It’s heartbreaking when a business needs to turn down potential clients/jobs because your staff is at FULL capacity.
Streamlining your business and developing a useful process will position your business to grow comfortably and accomplish your objectives.
Take the First Leap into Growing Your Business
Removing yourself from those low-level operations and the sheer busy work is the best investment you can make. Outsourcing has many benefits. It can also contribute to an organization’s growth and long term success. So if your company is entering a stage of growth, the workload becomes too heavy, or you can’t handle taking on several roles at a time, it may be the perfect time to seek help.
Outsourcing your inside sales team can be the game-changer your company needs not only for sales results but for your bottom line. Follow our checklist…read more
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