Did you know that over 300,000 jobs are outsourced annually in the United States? One of the many problems any size company can face is a staff shortage. As a result, they must hire more employees or outsource some of their essential functions to third-party businesses.
Outsourcing is the more typical choice among businesses, and larger companies are 66% more likely to outsource than small businesses.However, what companies underestimate is that making a mistake in hiring new sales employees could cost them about $2.1 million over the year. So, if you need more talent, , consider alternatives to hiring such as outsourcing to reduce your time and resources expended on recruiting and training.
Compared to hiring, with outsourcing you can have a new function up and running within the first month. This benefit is ideal for startups and small businesses that can’t yet hire a large number of people due to their current business development phase. Outsourcing is also beneficial when companies are exploring new areas of business or are planning to expand into new markets. You can test the service with a third-party firm, and if you are successful, you can bring that function in-house.
To decide whether you need to outsource or not, you should start by asking different questions to understand your company’s needs. Some questions you can ask yourself are:
Different circumstances can influence your decision to outsource or hire in-house staff. It can be challenging to understand when to hire and when to outsource. We want to share some of our experiences regarding this subject.
One way to find clarity is to consider how vital each function is in your business strategy and operations. In other words, if a process is of high strategic importance, it gives you a competitive advantage. If a function is of high operational significance, it helps your company run well and, if interrupted, will cause a disruption.
The general rule for outsourcing versus hiring is to keep a function in-house if it has both highly strategic and operational relevance for your business. Nonetheless, you could easily outsource the process if it is of high operational but low strategic importance.
If you have been considering outsourcing, you may be asking yourself when the best time is to outsource. Unfortunately, there is no exact answer to this question, since it depends on your goals, needs, and company’s strategy. However,many companies decide to take the leap of faith and start outsourcing, especially under these circumstances:
Other factors can contribute to the best time to outsource, and this requires a thorough evaluation of your company’s needs. However, try to focus on functions that are of high operational importance and start outsourcing efforts with those responsibilities. Also, consider that outsourcing can positively impact your business, but not without challenges.
Risk and challenges are a part of business, so you should be aware of that while outsourcing. You may face outsourcing risks such as loss of control, communication difficulties, hidden costs, and different expectations, but the benefits to your business will more often outweigh the risks.
We hope these reasons highlight how outsourced lead generation can help companies expand in the U.S.. Do you have any other reasons or objections as to why your business doesn't need lead generation? Please share them with us.
If you are interested in hiring an outbound agency with a team of experts focused on your lead generation and business development processes, feel free to contact us! Alternatively, you can schedule an appointment directly with us using this link.
“Outsourcing and globalization of manufacturing allows companies to reduce costs, benefits consumers with lower-cost goods and services, causes economic expansion that reduces unemployment, and increases productivity and job creation.”
Sandra Fernandez is a Marketing Specialist with over seven years of experience in lead generation, digital marketing, market research, and market intelligence knowledge. She is responsible for targeting ideal clients through marketing strategies and digital advertising campaigns. Sandra works with the Port Group sales team to achieve success and increase B2B sales outsourcing services awareness.