5 Reasons Why Your Small Business Needs To Start Outsourcing
As founder and CEO of a small- or mid-sized company, you likely handle most of your operations in-house. Administrative tasks, answering the phone, and scheduling falls to you and your team.
Yet as your business grows and becomes more intense, outsourcing specific tasks to specialized experts is a smart idea. You will lose some day-to-day control over these tasks. However, you will regain more control over the crucial parts of your business. You’ll also reclaim time and resources; you can rest assured that your job will be handled well.
If you are already outsourcing your payroll, for example, why not venture a step further? Try outsourcing your answering services, scheduling, data entry and other tasks? Here are 5 important reasons why it’s time for your company to reap the benefits of outsourcing.
1.Improve Your Focus
As a smaller business, you need to take advantage of every opportunity possible to enhance your own productivity. Do this by directing your focus towards your company’s primary mission. In many markets, product development cycles are shrinking due to globalization, automation, and other factors. This means you need to double down on your business.
Now more than ever, focus on the bottom line. It makes sense to have contractors outside the firm assume responsibility for specialized tasks.
2. Identify Employee Desires
Employees in today’s job market are demanding transparency. They want to better understand how their role contributes to the firm’s mission and position themselves to make an impact. “89% of employees said that honesty is the most important trait their bosses could have,” reports SmallBizClub. Now, the best CEOs are more likely to share details about the company’s mission, strategies for achieving goals and accept open discussion and feedback.
In a widely-referenced 2017 study by SnapLogic, however, 90 percent of workers are still being burdened with “boring” tasks that easily could be automated or outsourced. These employees are unlikely to derive the most satisfaction possible from their jobs. This creates precisely the type of environment that leads to high turnover, low morale and reduced productivity.
3. Utilize Structural Workforce Changes
The “gig economy,” which is centered on contract and freelance arrangements, has changed the essential nature of the workforce. When the economy went bust in 2009, many workers turned to contract or freelance work to make ends meet.
As the economy rebounded, and gig-based companies like Uber and Airbnb took hold, a large proportion of these contractors decided to forgo a return to the traditional workplace, enjoying the flexibility and freedom of their contractor lifestyle. A recent study by the Federal Reserve showed that three in ten adults now generally work in the gig economy, although often as a supplement to other income. This has made for a rich field of available resources for ad hoc contracts.
4. Embrace Cloud Technology
The introduction of cloud computing has led to an explosion in remote work arrangements. Seamless data integration is easy to achieve, both for regular employees and contractors. Once the province of only large companies, now smaller companies also can capitalize on outsourcing efficiencies.
Outside contractors can easily step in and contribute to a project online without companies having to accommodate them and provide computing resources in-house. Another benefit of cloud technology is that it eliminates the need for on-site hardware, software, and computer maintenance personnel. This means many companies can easily outsource their IT operations to third-party vendors.
5.Manage Your Resources
Companies that outsource enjoy the flexibility that comes with an on-demand workforce. Experienced independent contractors are able to step in effortlessly to help in a crunch period or contribute their expertise on a long-term basis as needed.
With the ease of finding skill-specific workers on websites like Upwork, Freelancer and Fiverr, companies can more tightly manage resources and accommodate peak periods without the hiring costly employees. By paying for personnel by the hour or project, companies can save big on payroll, benefits, and taxes.
Start Outsourcing Today
Our highly trained virtual receptionists at Answer 1 ask the right questions to customize our services to the needs of each client.
Our goal is for our team of virtual receptionists to handle our clients’ incoming calls seamlessly, as though they were actual on-site employees. Clients often have us assist with call screening and prioritization, CRM integration, data entry projects, scheduling, email monitoring, and other tasks.
Before choosing a contractor, make sure to ask a lot of questions and watch how they conduct their initial intake meeting. Are they curious to learn more about your business operation and culture? Do they seem to take a more cookie-cutter approach that may not fully reflect your unique needs?
You should keep in mind that your contractors are there to make your life easier while performing key functions that will impact your company brand and reputation. As has been noted, be sure to spend adequate time up front to make sure your contractor is the right one for the job.
Outsourcing enhances every aspect of your business. Get started today.