It’s been widely documented as a society we are trending towards outsourcing vast and varied elements of our personal lives. From child rearing to changing light bulbs there’s an expert for every imaginable task you don’t have the time or expertise to perform. And the same goes in the world of business.
Professional outsourcing isn’t a new concept, but its evolution is providing multi-facet opportunities.
Just to clarify we’re not discussing off shoring, another trend that holds significant economic benefits but intrinsic issues.
Can my business outsource?
For SMEs it’s difficult to have a range of in-house specialists for all the areas you need to have quality practitioners. Outsourcing can be particularly beneficial for medium size enterprises and start ups that require skilled professionals to help the business grow but may lack the financial stability to employ these key players.
Accounting and finances have always been an outsourcing option but let’s look at other areas that businesses are increasingly outsourcing:
- PAs, EAs and administration staff
- Marketing, Communications & PR
The list goes on, and the answer is yes, your business can also join the outsourcing revolution.
Benefits of outsourcing
Arguably the most appealing aspect of outsourcing is you select a business to become accountable for an aspect of your business that they specialise in. And, in the case of SMEs, as opposed to having one or two in-house staff, you have an external expert who often has access to a range of specialists and supporting staff of their own.
- Reduced FTE count with significant savings
- Access to specialists only when you need them
- No need to worry about PAYG, Super, sick leave etc.
Who’s on board?
Modern outsourcing is gaining such momentum that even businesses such as law firms, are outsourcing cases with a niche expertise to freelance lawyers. This lets businesses perform at their very best, by surrounding themselves with the most qualified people for a particular job, without the responsibility of having to commit to them in the long-term. It also allows for competitive fees.
Being involved in marketing and communications, an industry that is constantly evolving, this notable trend has had significant implications for how we practice. A number of our clients outsource their entire marketing functions to us, from the strategy to the execution and in some case the internal communications too. Other clients use our services to compliment their existing marketing teams. We may execute their existing strategy or develop campaigns to align with their objectives. Consequently the shift has moved from being Account Manager to Marketing Managers.
There’s only one thing that is certain for the future of outsourcing and that is with the benefits being significant and sustainable it’s set to stay.