A simple enough title for this blog but it actually means a lot. Outsourcing has been both hero and villain for many businesses, across several industries. It has a somewhat negative connotation, like it’s a scare word you say to a child to get them to behave. And sometimes — for real — it is a scare word you say to a business or to employees to get them to behave.
This is unfair. When done right, outsourcing can be the best thing to happen to individuals or businesses. Here are a few reasons why.
Outsourcing Benefits for Individuals
Many employees are wrongly scared of the O word, thinking that it immediately means job loss. For certain jobs and individuals, yes, it can mean job loss. Tasks may be outsourced offshore, where labor cost is cheaper and workers are as efficient.
However, this isn’t a life sentence. It can hit hard at first but, in the long run, it is a way for people to upgrade their skills. In a competitive job market, wherein candidates may come from anywhere in the world, people will naturally work to update their skills and become more specialised. When they do, they place themselves ahead of the crowd, as top candidates for jobs requiring advanced skills. No amount of salary discount can compete with a better and more efficient employee.
Outsourcing Benefits for Businesses
To a degree, the specialisation that benefits individuals also benefits businesses. As operations trim down, and some jobs are shipped elsewhere, a company can focus where they are best at. For instance, a financial company can become a better financial company, and not overstretch themselves by also exerting effort in marketing and customer support. While marketing and customer support are integral to operations, having excellent marketing and customer support teams takes time and a great deal of investment. It may be more practical to outsource these jobs to companies that specialize in them.
There are other benefits but at the core of it all is specialisation. When businesses learn to become better with what they’re already good at — with the help of outsourcing — they poise themselves to leading the pack.