Running a company is no easy task. While wanting to stay on top of things is completely normal, one of the worst mistakes you can make as a business owner is to wear too many hats than you can handle.
Having too much on your plate is mentally demanding and is unsustainable in the long run. Hiring highly skilled individuals might help ease the stress, but recruiting can also be a considerable investment of time and money.
In times like these, one of the most effective solutions that overwhelmed managers can opt for would be outsourcing. Partnering with a reliable agency will allow you to focus on the core aspects of your business, enabling company growth and maintaining employee well-being at the same time.
What You Need to Know About Outsourcing
According to Bloomberg, there are many reasons why the outsourcing industry will hit an estimated value of $620 billion by 2032. Companies worldwide have leveraged the power of support services to bolster their productivity and efficiency while sticking to a limited budget.
Outsourcing has become so mainstream that around 37% of small businesses outsource their functions. To put that into context, if you’ve recently met three small business owners, at least one of them likely outsources a business process.
Business owners outsource for a variety of reasons. According to Deloitte, around 88% of them outsource to reduce costs, 73% want to drive their business value, and 61% hope to accelerate their digital agenda.
In the same Deloitte survey report, the Philippines is ranked among the top 3 countries where companies prefer to outsource their telecommunication functions. In fact, the outsourcing industry accounts for $26.3 billion of the nation’s economy in 2019. This makes it an excellent country for call center outsourcing services, among other business functions.
With that said, seeking the help of outsourcing consultants in the Philippines could help solve some of the struggles of running a business. If you’re familiar with any of the situations below, you might need to start looking at outsourcing vendors.
9 Signs You Need to Outsource
1. Your quality of work is declining
While satisfying your customers means delivering on time, it also means maintaining a certain level of quality. If you find that your business is constantly churning out subpar outputs despite meeting deadlines, it could be a sign that something needs to be improved.
2. You’re struggling to recruit top talent
Despite all the job openings you’ve published online and candidates you’ve spoken to, you can’t seem to find the highly skilled individuals you’re looking for. This is one of the reasons why the hiring process can be so taxing for small business owners.
Outsourcing could help you skip this entire process while still getting the chance to work with experts in the field.
3. Your teams have too much on their plate
How do you feel about seeing your employees take roles beyond their job description to keep up with all the customer demands? While this may be common in small businesses, it might not be sustainable if your employees are overworked and stressed.
When there’s too much on your team’s plates, it might affect the quality of your business’ output and service. Since working more hours is unsustainable and mentally draining for your workers, outsourcing can give your team the time they need to complete their tasks comfortably and maintain the quality of their work.
4. You’re walking on a financial tightrope
Growth often comes at a cost. Every new hire means having to create a budget for their salary, leaves, and other benefits. It’s possible that sometimes, you can’t afford to hire new employees even when your current team is already overworked.
When you feel that your budget can’t handle another hire, but your team needs the extra hand, outsourcing can be a cost-effective way for you to have your cake and eat it too.
5. Careless mistakes are becoming common
Missing customer service calls, emails piling up, typos in social media content—these are mistakes that can be easily avoided if your business were less overwhelmed with work.
Outsourcing tasks, such as responding to customers through your call center outsourcing services, for instance, or having an external social media team, could help prevent these small mistakes.
6. You’re experiencing more delays
Tasks that you know should be quick are taking longer than you expected. This may be because the person assigned doesn’t have the necessary skills for it or because they can’t fit it into their schedule.
While a delay or two might be forgivable, customers may begin to lose trust in your business if it becomes a common occurrence. Outsourcing particular tasks like customer service or accounting could increase the overall efficiency of your team.
7. You have an influx of clients
You don’t need to wait for specific projects to go wrong to know that you need to outsource. Gaining new clients helps your business grow, which most business owners celebrate. However, another client means another stream of tasks.
Of course, you would want to give new clients your undivided attention and make an excellent first impression. But sometimes, that may not be possible with demands from other clients flooding in.
In such a situation, outsourcing can be a cost-efficient solution to accommodate your company’s rapid growth.
8. Your team lacks the necessary skills
Some functions may require the help of an expert to complete. If you find that your customers often use email, but none of your employees are experts in email marketing, training a team member to become one could take too much time. It might be more efficient for your business to hire an email marketing expert instead, saving you valuable time.
9. You feel that 24 hours isn’t enough time in a day
You hop from task to task, meeting to meeting, and still feel like you haven’t been able to do much by the end of the day. Your schedule might even be so packed that you have no time to wind down and build a healthy work-life balance.
Working with outsourcing consultants will help you understand which tasks you can hand over to someone else, freeing up your time for other core responsibilities.
The 5 Main Benefits of Outsourcing
There are multiple reasons why business leaders opt to leverage outsourcing their processes.
1. Access to a wide pool of experts
Instead of investing time and effort to train your current employees or recruit and hire top talents, outsourcing consultants conveniently help you get in touch with industry experts across the globe.
For instance, outsourcing consultants in the Philippines will give you instant access to highly skilled employees, allowing you to quickly fill your vacancies.
2. Reduced costs and expenses
Outsourcing certain tasks such as telemarketing or HR functions helps you avoid the cost of expanding your office space. Additionally, it would cost you less to hire someone with a specialized skill set for the duration of a project than to go through the hiring process to recruit one that may only be necessary for a short time.
3. Improved company productivity
You can accomplish more things with a larger workforce. Acquiring call center outsourcing services could efficiently support your full-time employees in staying in contact with your customers or clients. This helps open up their schedule to produce quality outputs comfortably.
4. Greater focus on core tasks
As a manager, you understand the struggle of having to perform the tasks you’d rather not do. There’s a reason why accounting is the most outsourced business function. Instead of gritting your teeth and finishing the job, you can simply get someone else for experienced and qualified to do it.
Moreover, think of your opportunity cost; the amount of time you spend working through exhausting administrative tasks might be better spent brainstorming with your team about the next big thing for your company.
5. Expansion of company reach
One of the most common goals for business owners is to go global. Outsourcing makes this goal more feasible.
Hiring an external team in another country helps you penetrate the local markets without going through all the paperwork and hassle of relocating your employees and finding another office.
Find External Solutions for Internal Problems
As the head of your business, you might be tempted to do everything yourself. But no matter how driven you may be, that approach will never be sustainable. When you feel like you’ve hit a dead-end, always remember that even the biggest CEOs in the world did not accomplish everything by themselves.
With that said, working with reliable outsourcing consultants will be one of your best decisions. Working with a partner agency will increase your company’s productivity and create a healthier working environment–all while keeping costs down.
If you’re interested in outsourcing one of your functions, we’ll be glad to take things from here. Consult with StratAccess today to learn more about our services!