Outsourcing first originated with the intent to hire an outside company that produced goods and performed services remotely. Today, with freelancing becoming a preferred career path, outsourcing has made a comeback both online and on the blockchain. Technology is being utilized to find, hire, and implement job positions (all with secured contracts!) that do not require in-house performance. Whether you’ve heard of outsourcing or been a participant in the process, you may still find yourself wondering what benefits are associated with the subcontracting measure. Here are the five benefits of enlisting freelancers and external specialists outside of your company that may convince you to give it a shot:
Focus on core business activities
While some company leaders may argue that they feel a loss of control when outsourcing a skill set, others won’t deny that it gives them extra time to focus on core business activities. By outsourcing specific job positions to those who specialize in a given task, leaders can focus on business models, marketing strategies, and financial infrastructure. Marketing strategies in particular, which usually consists of campaigns and strategic product launches, can fall to the wayside if neglected. Outsourcing is a means to allocating the attention needed for these methods of exposure, without negating the importance of another activity or task that’s essential to a company’s operations.
Increasing in-house efficiency
Delegating specific tasks to outsourced parties allows in-house staff to balance a steady workload and provide quality results in their area of expertise, all well within a timely manner. With work-life balance at the forefront of most modern employee’s list of priorities, it becomes more necessary than ever to provide your own in-house staff with fair task expectations that can be realistically fulfilled. Outsourcing to those who are qualified won’t just place a service or product in the hands of a specialist but relieve in-house staff of unfamiliar responsibilities that could potentially compound their stress levels with standards that don’t match their primary knowledge or skill set.
Improved risk management
Hiring an outsourced specialist will negate the possibility of poor task results completed by in-house staff, and will hand off a share of job responsibility to a third party. Without the option or choice to outsource, an in-house staff member will likely perform less than average, resulting in a product that was not built properly, or a service that was not administered perfectly. To manage on-the-job risks more effectively, or even attempt to eliminate them altogether, take advantage of outsourced projects; those who have been delegated or given control of these projects will have the qualifications and experience to minimize risks, approach and solve them if they should arise.
Achieving customer satisfaction
By increasing in-house efficiency and improving risk management simultaneously, outsourcing will increase customer satisfaction over time. The more stable and reputable a product or service is, a greater customer retention rate will follow, along with positive reviews and an increase in demand. With better deliverables and a staff that is able to focus on the customer’s needs, retention will be easier and more achievable. Brand credibility will soar, as well as the gauge of success felt by all employees – in-house and outsourced.
Reduce business costs
Outsourcing will help companies, especially small or growing ones, save money on extra expenditures such as employee training sessions, capital expenditures, hiring and operating costs. Cutting costs on in-house expenses allows financial infrastructure to flourish in terms of salaries and perks for those in-house. Core business activities and marketing strategies will be granted a larger budget, increasing company exposure and brand awareness.
By contracting jobs externally, companies have the financial strength and renewed energy to place towards core business strategy and activities, as well as their customers’ needs and preferences. Taking use of a technology that operates as a platform for outsourcing, such as blockchain, helps streamline the hiring process and secure payment transactions, allowing third party specialists to perform a delegated task effectively while boosting the hiring company’s success. The five benefits listed are easily achievable and come with great success, proving to company leaders that a little loss of control is okay. In fact, sometimes it’s exactly what they need to thrive.
About Plamen Nedyalkov:
Plamen Nedyalkov is a Real Estate developer with more than 20 years of experience, he is a co-founder of Atlantis Bulgaria Holding and a Project Manager at Atlantis Project Ltd- Architecture and Interior Design. Zoom was inspired by the Nedyalkov family’s construction business that oversaw the designing, planning, and building of residences, hospitals and hotels for over 20 years. After experiencing unsuccessful attempts at flexible, global outsourcing that resulted in mistrust and a lack of fair payment, Nedyalkov created Zoom with the vision to ensure payment, responsibility and teamwork.