The reasons why outsourcing makes so much sense for a growing business are well documented. A survey from Deloitte, for example, found outsourced labor is cheaper than hiring inside. How much less expensive? Well, according to the study, 62% of companies saved 10% to 25% when they outsourced labor. The remaining 38% said they saved more than 40%!
Clearly, outsourcing labor saves small businesses money. Choosing to hire inside versus outsourcing is a strategic decision that can have a significant impact on business outcomes. Therefore, leaders need to make these choices carefully.
Let’s take a look at the value labor outsourcing offers that will help organizations when they are weighing their hiring decisions.
Outsourcing creates value through cost savings
If you’ve worn the payroll “hat” at any point, you know the cost of employees goes well beyond their upfront pay. It’s a competitive world out there. A company that wants to attract the best talent will have to offer an attractive compensation package, which should include:
In addition to direct workforce costs, recruiting and managing employees is a significant yet essential time requirement to be considered. Time is money.
Outsourcing creates value through increased agility
Can your business accomplish everything it wants as soon as it needs to—or better yet, when your customers demand it? As your customers’ needs and wants evolve, so do your business capabilities.
Outsource providers helps businesses quickly solve capacity issues because they already have the infrastructure and skilled workforce in place. Local outsourcing can help your business scale up or expand out in near real-time.
Need to decrease delivery time, speed up product enhancements or enhance your ability to customize your product line? Outsourcing is the leverage companies have to be faster, increase flexibility and quickly take advantage of opportunities.
Outsourcing creates value through the elevation of your core team
As we saw earlier, hiring talented people that are motivated to achieve business goals takes a significant time and expense investment. Successful business leaders will ensure that investment pays off.
One way they do this is by minimizing the time in-house teams engage in miscellaneous activities that fall outside their specialties and interests. Instead, your core team can leverage the support of outsourced workers, remain highly-motivated and keep their eye on the ball.
It’s easy for your business to remain adaptable to its changing needs without taxing internal teams when you outsource areas that require dedicated, rather than temporary, assistance.
Outsource the right way with Goodwill Industrial Services
Just as not all employees are alike, neither are all local labor outsourcing providers. Ohio Valley Goodwill’s Industrial Services Divison helps local businesses reach their next level of success in the most cost-effective and efficient way possible. Our diverse and experienced workforce can handle projects of any size ranging from assembly and kitting services to packaging and order fulfillment, whether you’re looking for temporary labor or a more long-term solution.
Contact Ohio Valley Goodwill Industries today to strategize with our business development professionals and tour our facilities. It’s time to outsource with Ohio Valley Goodwill!