Outsourcing has become an easy and cost effective technique, which is used widely in today’s digitization world.
If your business is suffering from revenue fluctuations, is worried about the costs of hiring, training and managing in-house staff, or is simply not set up to perform a specific business function; it is often more cost-effective to outsource your specific needs.
Below are some of the key reasons why outsourcing can save your business money.
Lowers the cost of talent
It is often costly to bring on highly skilled employees, particularly in situations where a company is just starting out, entering a new market, or expanding their existing business activities.
By outsourcing work to qualified employees in developing countries you get access to a large number of skilled people who are efficient and proficient in English, they are available for work at a very low labour cost.
Fewer employees to pay
Companies are required to pay employees even if they do not have much work at the moment.
By outsourcing, you’ll only have to pay for the price of the service package you chose, which already includes the agents’ salary and benefits package, training and infrastructure.
No need to worry about payroll taxes or employee benefits.
Eliminate after-hours shift costs
Outsourcing has a great time zone benefit. Remote employees can either work in your time-zone or in their own time-zone – depending on your specific needs.
For example: if an American country assigns work to a virtual assistant / remote employee based in the Philippines then the time gap is of twelve hours. You can assign work and relax, as the work will be done by the time you wake up the next morning. Work will be going on round the clock without overtime / loading costs for after-hours workers.
Reduces costs associated with work-force fluctuations
Outsourcing provides relief when there are fluctuations in work force requirements, particularly during peak-seasons and/or when employees take long-term leave (maternity leave, paternity leave, sabbaticals) – making new workers costly to locate and train.
Outsourcing the work enables to control this problem, as your remote workforce will be available round the clock to work on tasks you assign them, with no up-front recruitment, training, or infrastructure costs.
Less workspace needed
Hiring more employees often means you need a bigger workspace to fit everyone. This may involve renting another office space, expanding your current one, or building a commercial space from scratch, all of which take time and money.
You can avoid this problem by outsourcing your employee needs to Ovisacom.
Less utility and equipment costs
Having in-house employees means more equipment, maintenance and utilities costs. Such costs includes desktops or laptops, headsets and microphones, office furniture, cleaning services, repair and maintenance etc. More equipment also means your business will consume more energy, adding more to your expenditures.
Fortunately, you can save yourself from making such a costly investment and by outsourcing instead. Ovisacom provides our virtual employees / remote workers with their equipment and infrastructure needs at no extra cost to you.
Reduces the cost of essential expertise
If there is no one in your business with expertise on a particular business function or need, you’ll get better quality by outsourcing and most likely save money over hiring a full-time employee to meet the need.
If there is some business function/need which your business cannot perform quickly/easily and or professionally, you’ll often save money and improve quality by outsourcing.
Eliminates recruitment (hiring) costs
When hiring employees in-house, one of the first costs that a company is faced with is the cost of hiring. You need to get an Applicant Tracking System, have a human resource team, scan through resumes, or even get recruitment services to find the right staff members.
Outsourcing to Ovisacom eliminates this cost on long screening & many interview rounds.
Frees up your employees to focus on the essentials
Outsourcing takes away the burden of handling certain tasks in-house and helps to free up the schedules of your most valuable employees so they can use their energy to develop ideas and generate more income.
Once you start outsourcing various aspects of your business operations, its impact could be clearly visible in the company’s balance sheet; particularly in operational expenses, sales, and revenue.
No long-term commitment
Hiring in-house employees is a serious commitment. Many times, you are obliged to keep paying for an employee despite knowing they are not being fully utilized, or that their role barely justifies the expense of keeping them on.
By outsourcing to Ovisacom you have no such commitments. You only need to pay for the services outsourced and once the project is completed, you can let the staff go.