Outsourcing is a business practice that has caught attention of major corporations across all industries, and for very valid reasons. It is been instrumental in helping companies make massive savings on cost and improve the overall efficiencies of various processes.
Some of the prime outsourcing activities undertaken include:
1. Manpower Outsourcing
2. Contract Staffing
3. Temporary Staffing
4. Payroll Outsourcing
5. Flexi Staffing
The individual explanations for each type can be taken up in some other articles, for now, let’s try and understand why more and more companies are leaning towards this model of business.
Outsourcing provides companies with great strategic advantages. Outsourcing important jobs within your organization to an offshore company proves to be highly resourceful, and this is the precise reason why hiring managers or business owners are actively looking for outsourcing service providers from all across the globe, even at offshore locations. Let’s explore how this practice is so resourceful:
You Save Costs
Let’s say your company located in USA is outsourcing its job to a company located in parts of Asia. First and foremost, you will be saving huge costs by the virtue of the massive currency difference that exists between the two countries. When instead of the dollars being paid monthly to an in house employee, you are paying dollars that are converted from the local currency of your outsourcing partner, the price difference is right there for you to see.
Apart from the savings made due to different currencies, you are also saving money for the fact that you are only paying for the services being delivered to you, instead of paying an individual at the end of every month or week, irrespective of how actively they are working on a project. Also, there are infrastructure costs involved with hiring new people, which are incurred by your outsourcing partner instead of you.
Access to Manpower with Better Expertise
It is worth noting that the companies that provide manpower outsourcing services are constantly making sure that they only hire professionals who have very reliable skills and a proven track record in their industry. These companies have large HR departments which enjoy surplus finds and focus delivered to them by the company managers and thus find it easier to find good talent and get it on board. Therefore, partnering such a company essentially give you unlimited access to the best talent around. Instead of investing too many resources and time to help your internal HR department for finding the right people, it serves well to let somebody else do that job for you, and charge just a nominal price for it.
Time Zone Difference Can be Worked in Your Favour
As opposed to the general opinion, time zone difference is not a bad thing. There are many instances when you would like a problem to be addressed at what are odd hours in context to your country or city. But when people working for you are located offshore, there is every chance that you just send them a Skype and apt comes the reply, because your odd hour may just be their office hour. It is a real advantage that companies fail to acknowledge.
Manpower outsourcing serves to be that tool with an unending list of benefits for your business. It’s about time you bring it on board.