Why Outsourcing is the Answer in a COVID-19 World
The business world has and continues to evolve and adapt throughout the years. However, the world’s economy was tested over the past four months due to the global pandemic, COVID-19. Business owners, both small to large, were faced with the decision to transition to a virtual platform. Even with the changes looming, businesses needed to revisit their P&L and trim expenses to make ends meet.
What expenses do you cut? Are those expenses job duties? Are those expenses key technology platforms that increase efficiency? Regardless of what decisions were made there are options for business owners. The first option to review is outsourcing specific roles and responsibilities.
TIP: Outsourcing is the process of hiring another company, or qualified person, to handle business activities on your behalf.
Why should you consider outsourcing?
Skilled Resources Without Training Expenses – According to the Training Industry Report, companies spend an average of $1,200+ per employee for training. Honestly, I see that number doubled in most of my clients when you add in the time you take away from other employees assisting with the onboarding process. By utilizing an outsourced firm, you omit the training expense completely.
TIP: As you interview outsourced companies, be sure to ask for testimonials and references. In addition, asking for a portfolio is also quite common. Do not forget to do your due diligence.
TIP: Does your business experience seasonal fluctuations in the work force? If so, consider outsourcing. You are only paying for work when work is needed.
Again, working with an outsourced firm enables you to omit these increased financial obligations.
Interested in learning more about ShoreSource Business Solutions, LLC? Feel free to reach us at 843.729.2961 or firstname.lastname@example.org.