What is Offshoring and How Does It Bring Value to Your Business? - Sun and Planets Spirituality AYINRIN
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Offshoring is a way to get a part of your business in another country. The activity that you move away from home can vary. It can be a production process or another service. Your company manages the activities and operations. Let’s examine the advantages and the disadvantages of offshoring and see how it can bring value to your organization.
Offshoring – A Way to Grow and Scale Your Business
Offshoring enables you to take your business to the next level. It cuts down the labor costs, and thus, it frees resources that you can invest in growing your services and enhancing your quality.
The amount of expenses a company saves is considerable. Estimations point out that the saved costs may reach up to 50%. These costs don’t come only from salaries and recruitment costs. The businesses that are offshoring often save a lot in infrastructure costs.
So from a financial point of view, offshoring is very advantageous.
Cons:
Some companies that have used offshoring have had negative experiences, primarily because of communication difficulties and cultural challenges. Certain attitudes regarding deadlines and performance can clash with your company culture and result in significant losses instead of improvements. You need to make sure the offshoring company you trust your business to is a reliable one.
Offshoring provides access to high-quality professionals.
You can access an vast talent of highly qualified professionals. Most of them are young and motivated, and they are also fluent in English. You can reach teams with the skills your business requires to fulfill your projects and expand.
Cons:
Things get a bit different when an external agency manages your offshoring. Then you can’t pick and choose every team member. Your project is handed to randomly available people, which means that there is less alignment and synergy.
You Can Provide Your Clients with 24×7 Customer Service
With professional teams around the globe, you can be available for your clients whenever issues arise. Having an offshored customer service team has helped many companies provide better customer experiences to their clients. You can accommodate flexibility and adjust the working schedules according to the company’s needs. However, this is only one side of the story.
Cons:
For some companies, time zone differences are a hindrance instead of a benefit. Communication issues might arise when different company departments operate in various time zones. Communication with the team needs to take place outside of office hours in your country, which might lead to delays and problems.
Offshoring Allows You to Control the Process and the Outcomes
With offshoring, you don’t need to relinquish control over a specific aspect of your business. It enables you to choose, hire, and manage personnel that is entirely dedicated to your company. You’re responsible for the training and the directives.
This means you set the best practices, processes, and desired outcomes for your teams. You can be sure that the company’s core needs are taken care of. All the essential tasks are in the hands of specialized teams across the globe.
Cons:
However, when an agency manages your offshoring, you don’t have much control over the team and the operations. You have some limitations and can’t have much say over the working schedules, paychecks, or your team’s company culture.
Offshoring Lifts Burdens off Your Shoulders
Offshoring needs to free a lot of time, resources, and energy so business owners don’t have to spend hours on less essential aspects and can focus more on opportunities for growth and development. This is the goal of offshoring, and you need to carefully pick an offshoring company with a winning model and a history of success.
The company needs to lift burdens off your shoulders. An innovative version of offshoring called Yourshoring is becoming increasingly popular. It denotes a kind of offshoring where you get all aspects customized to your needs. Each staff member of your offshored team is hired according to your company’s values and vision. This way, the turnover of personnel, 40% in offshoring companies, is reduced to just 15%.
When your staff is more dedicated to your mission, you get a higher quality of work and very motivated team members who can bring innovation and growth. Turnkey Labs has introduced the model, but it has also been embraced by other companies that would like to expand to this new model.
Conclusion
Offshoring is an outsourcing model that has brought immense value to thousands of companies. It’s used to grow and develop a business while keeping costs low. It gives incredible opportunities to work with the best talent across the globe. Offshoring can be Yourshoring, too. You can choose a tailor-made model especially customized to your organization and requirements.
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