When it comes to running a business, there are countless elements to consider across departments. From marketing plans to HR and payroll, to promotions and personal development, it can be difficult to find the time and resources to fit all of this in-house.
That’s why many businesses today outsource some of these responsibilities to specialised agencies.
According to recent studies, 7 out of 10 companies in the UK outsource services to third parties, with 30% of UK businesses planning to outsource even more by 2022.
If you are a business owner who has been toying with the idea of outsourcing, but need further information on it, here are our top tips on why we believe that outsourcing is essential for overall business growth.
Benefit From Specialists
While you may have every piece of knowledge there is within your business sector, the fact remains that it’s simply impossible to be clued up to the same standard across other important areas of the business. Maybe you work in finance, and you need to put together a strong marketing strategy for your business. By outsourcing to a specialised marketing agency, you could tap into their years of marketing expertise which will result in a much more successful marketing plan, than if you attempted to tackle this in-house. Or perhaps you’re a creative business owner but you have no idea about payroll software and legalities when it comes to sending out monthly salaries. Investing in the help of independent experts in HR and Payroll means you can rest easy knowing that your payroll is in capable hands and is all taken care of without you needing to suddenly become an expert in a field you know nothing about.
Free Up More Time
Designating set tasks to third parties is a sure way to free up time which can be then thrown into internal areas across the business instead. Focussing on your strengths, allows your team to concentrate on the main tasks at hand which support your overall strategy and business plan.
Save On Costs
59% of businesses use outsourcing to reduce their expenses. By appointing selected tasks to specialist teams, you can access state-of-the-art technology and software without having to pay the heavy price tag for it. This means you can achieve much better results by utilising tools of the companies you choose to outsource to. Another cost saving element to outsourcing is that you can effectively grow your team, acquiring top talent in the relevant fields you require, without paying the full price for doing so. Opting to do this in-house would ordinarily mean having individual salaries of all the extra staff members to cover, whereas when you choose to outsource, you get all the knowledge and expertise, without adding to your payroll.