Business owners should be focussing on their core business strategies in order to help further develop and grow their business. However, it’s usually the case that they end up managing other tasks such as staff-related issues, employment matters, troubleshooting and so forth, which could be somewhat counterproductive to their businesses growth.

Outsourcing could be a solution to this problem and the key to enabling a more productive and functional business. Get your pmp certification today to know more.

Outsourcing and its benefits

According to a recent Pricewaterhouse Cooper Survey, businesses that outsource are growing at much faster rates and making more profitable income, compared to companies that don’t.

Following a shift in the market, during the times of the great recession, companies that were in-sourcing back then have now adopted the idea of outsourcing in keeping with changing regulatory patterns and technological changes too.

The most common types of outsourcing that companies have adopted are generally call handling and marketing. Still, many companies use it for a selection of other roles too, such as Payroll, IT, HR, Research, development and compensation-related matters.

One of the great benefits for small to medium-sized businesses is that enlisting outsourced help enables access to vital expert knowledge, without the need to employ new workers on a full time basis, so it’s cost-effective for them.

These benefits include:

It helps smaller companies to focus on core functions rather than be tied up doing other duties. Outsourcing those duties, for instance, Human Resources, Payroll and Marketing (to name a few) frees up resources and allows staff and management to concentrate on more pertinent matters.

• Accessing industry experts

Instead of paying the costs associated with hiring personnel full time, small companies get access to industry experts for a fraction of the price.

• Lessen overhead costs

Insourcing can be costly to businesses when overheads are considered, such as valuable office space, rates and benefits, whereas outsourcing helps to reduce those costs significantly.

• Speed up new projects

Outsourcing allows companies to get new projects up and running much more quickly. An outsourced provider will have the resources in place to speed things up from the get-go.

• Flexibility

For companies such as retail and construction who experience seasonal fluctuations, when outsourcing is used, it decreases the need to commit to employees continually by using staff as and when required.

What types of outsourcing can you use?

The great thing about outsourcing is that there are many ways to do it and many options; companies have the flexibility to outsource what they need on a pick and mix basis.

Here are some worth consideration:

• HR consultants

HR can be outsourced to manage tasks such as recruitment, record keeping and compliance at affordable rates. They can help with guidance matters and other HR services like managing Payroll and admin.

• Professional Employer Organisation (PEO)

A PEO will coordinate all HR services; they hire your staff and lease them back to you for a flat rate per employee or a Payroll percentage. One of the great things about using a PEO is that it enables companies to offer workers benefits which probably are only available for employees working in large organisations.

Get started

Look at the way your company manages its outsourcing and decide which options best suit your business needs. Consider things like the level of expertise you need and budget. The goal here is to find a solution to support your business not only for the present but also for the future. Apply for your pmp certification in bangalore now.