According to research from Opinium and LiveArea, 28% of businesses are looking to outsourcing as a Covid-19 survival strategy. This makes complete sense and if you think about it, it makes you wonder why more businesses aren’t doing this.
For starters, outsourcing is a great way to reduce the risk of spreading COVID-19 and it is also another way of boosting the economy or at least keep it going. According to the research the areas of business most likely to be outsourced are IT with 37% and marketing with 32%.
Elliott Jacobs, EMEA commerce consulting director at LiveArea said: “Businesses across the UK will need to completely rethink their businesses. As no one can fully understand the implications of Covid-19, companies must invest in adaptability and resilience. Fundamentally, this means developing the ability to understand market changes and react instantly. Only then can brands cope and even flourish in a post-Covid-19 economy.”
But what other areas of your business could you outsource and what are the benefits in doing so?
Outsourcing Can Give You Access to the Best Tools for the Job
When you outsource certain jobs within your company, you don’t have to worry about it yourself. Take outsourced bookkeeping services, for example, bookkeeping is their bread and butter, it is what they do and what they are best at. It’s likely that the person or company you outsource to will have access to the best resources and software to do the job. If you choose to do it yourself in-house along with everything else, you might have to make do with lesser equipment to cut costs and this will mean you won’t get the best quality job done.
According to an article from Deloitte by KikisPissarides, Manager, Business Process Solutions “Advances in technology have helped forward-looking companies to benefit significantly from outsourcing services for quite some time now. This is particularly relevant for small to medium-size enterprises, who simply lack the space or labor funds for in-house auxiliary departments like finance and payroll.”
Outsourcing Can Show You the Benefits of Remote Working
The coronavirus pandemic has meant that many businesses have become more open to remote working because they’ve had no choice, however it doesn’t mean that they’re comfortable with this way of working. Some business owners still struggle with this idea and feel they are losing control of their workforce but if they outsource their marketing services for example then they will become used to this way of working.
Specialists are used to working remotely from their clients and they are trusted to get the job done. There are plenty of platforms that can be used to communicate and collaborate so that working together goes smoothly. If employers can get used to outsourcing and see the benefits of remote working as well as reducing the risks of coronavirus then this will contribute to the new way of working and living and help people adapt to it.
Outsourcing Reduces Expenses
Initially, when you look at outsourcing it might seem like an additional cost that you could do without, however when you do the calculations, you’ll see that it actually reduces expenses. For example, rather than paying full-time salaries and people, as well as training them and even paying to recruit them, by outsourcing you skip all of this and get an expert who is ready to get going on the job that needs doing. You also save on office space and equipment as the people or companies you outsource to will have their own.
Outsourcing Can Help People Who Are Out of Work
COVID-19 meant that many businesses have had to close or significantly cut costs by letting people go. This means that there are lots of talented people currently out of work and looking for a new job. Outsourcing means that you don’t have to employ someone full time but you could still help them massively during this difficult time. Right now there are freelance writers just waiting to write your blogs for you, there are graphic designers who have ideas on how they could help you to rebrand and adapt to the new norm and there are plenty of other people who have time on their hands and need money for Christmas and could be a real asset to your business. Deloitte’s article continued: “Outsourcing ultimately offers business owners great advantages. The process allows them to build a team of skilled professionals without adding the expense of full-time employees and additional office space and equipment. “
There Are Experts Who Can Get Your Business Back on Track
Following on from the fact that you can help people, these people can really help you too. By outsourcing, you will be getting a certain task or project fulfilled by someone who is an expert in it. So rather than you trying to do your own bookkeeping, while also trying to figure out the IT and find time to write a blog for your website if you have someone who is an expert in each of these things then not only will they do a better job on it and give it their complete attention but they will free up your time too. Right now, there are lots of experts out of work who could be getting your business back on track; there are marketing professionals out there who could be helping your business to survive the effects of the pandemic.
You Can Focus on What You Do Best
Rather than spreading yourself thinly and trying to do everything in your business, your talents are best put to use doing what you do best. Whatever your business is, there was a reason you started doing it and it probably wasn’t to have a headache over payroll each month. When you outsource tasks, you can forget about them, you know they are in safe hands and will get done better than you can do them despite your best efforts. You can then focus on your job which is the essence of your business and do what you do best.