Outsourcing is a business practice of hiring the external services provider to perform some of the tasks, which were usually performed in-house, on behalf of your organization. Some organizations outsourced to reduce cost and some outsourced to just focus on their core business goals and planning.
Some functions which are commonly outsourced to vendors are human resource management, payroll, booking keeping services, supply change management, research, design content writing, IT support and services, call center services plus many more.
Different vendors specialize and provide the outsourcing services in different areas. As for us, Myanmar Payroll and Outsourcing (MP&O), we provide Professional Employer Organization services (PEO), Employer of Record services (EOR), Payroll services, Recruitment services, HR services and Visa & Immigration services.
How can outsourcing some of your internal tasks benefit your organization?
- Time saving
- Focus on core tasks
- Promote growth
- Cost control
Time Saving – By sharing the tasks to the external services provider, the organization can free up their time and can use their energies to develop ideas and generate more income. Just like outsourcing a time-consuming payroll function to a vendor.
Focus on core tasks – Sometimes, without knowing, we focus on the task we should not. We forgot what the priorities are because there are a ton of work that just needs to be done. By outsourcing your non-core tasks, you can give more time one your core business which your organization set to achieve.
Promote growth – Outsourcing will prompt more effectiveness and higher efficiency. Outsourcing functions like content marketing to increase awareness of your business, bookkeeping, payroll, and admin is recommended by many businesspersons and can help lead to more growth. For instance, if a company is starting a new project, an outsourced vendor will have the assets set up to get down to the business quickly, where insourcing could take weeks or months to hire and train employees.
Cost control – You can control the cost by giving the task to external services provider which you are not specialized in or which is not available within our organization. For example, let us say, you want to get a logo, but you do not have someone to deal with it in your team. Will you hire one headcount just for a logo or will you outsource to a designer?
As your business grows, there will be more tasks to be prioritized. Outsourcing can be a way to promote innovation, and access new skill sets that reposition your company in the market.