Your business runs upon the capabilities of your employees: they engage in numerous activities every day to keep your business up and running.
However, out of the 10 activities, your average employee performs every single workday, probably only 4 of them add to their overall productivity whereas the rest is just running activities such as making budgets, making customer profiles, checking whether the sales team met their targets, etc.
In contrast, your employees should instead be spending their time on analyzing with the department could increase or decrease their budgetary requirements, analyzing how your customer profiles have evolved over time, and developing a sales plan.
Tasks that are repetitive, mundane, and don’t require your employees’ skills and intellect don’t in fact add to your employee’s productivity, and simply hog up time that could have been used elsewhere.
However, the tasks that apparently hog up your chosen talent’s time are essential to the everyday running of your business. Hence, your solution is to outsource all such activities to other firms in different countries.
Typical business tasks that can be outsourced include customer services or call centers, back-office administration work, inventory management, finances, contract creation, and many more.
What are the benefits of outsourcing?
There are numerous benefits associated with outsourcing tasks to organizations in a different geographical location that specializes in them, and are as follows:
1. Outsourcing helps you save time
As mentioned above, by outsourcing you can save up on precious times of your employees that can be used elsewhere in more invested tasks.
This means that your employees can use the free time to expedite projects, meet deadlines sooner, and overall speed up business processes within your office.
2. Outsourcing helps you save money
Human resources occupy a huge chunk of your business’ expenses and when you outsource certain tasks, you need fewer employees in that sense.
Additionally, when you outsource certain activities to countries where the minimum pay and labor is cheaper, in conversion you save a lot of money to invest in other business processes.
For instance, outsourcing services to Sri Lanka proves very beneficial for companies in terms of the lesser costs associated and ease of finding specialized and experienced individuals.
3. Outsourcing helps you in scalability
Since by outsourcing activities you are left with more time to invest elsewhere and more budget, it becomes easier for your business to scale up and include a bunch of different development ventures, or allows you to increase your target market, etc.
The different ventures and avenues you’d open for your business would be numerous and beyond your imagination. A little extra time and money saved can go a long way, and you would realize this once you outsource to other companies.
4. Outsourcing increases your productivity
By allowing your employees to utilize their time elsewhere and in more challenging tasks, you innately increase their productivity.
With the extra time on their hands, your employees can take up more responsibilities, perform dynamic duties, and essentially focus on their competencies as they should.
This would in turn mean increased profitability and sales for your company.