Managing a business is a lot of work. Not only are you in charge of overseeing the day-to-day operations, but you also need to make sure that the other aspects of your business are working in perfect harmony. This will be impossible to do on your own, and that’s where your employees come in.
Employees are the most valuable asset of any company because, without them, you won’t be able to get to where you are right now. However, just because your employees are integral to the success of your business doesn’t mean you can’t depend on other human resources to achieve your goals.
After you have managed to get your business off of the ground, your next step should be to focus on daily operations and eventually, to growing the business. But that can be difficult to do when you’re already spread too thin and all your employees are tied to their positions.
Your only options will either be to hire more in-house staff or to send out work to freelancers and outsourcing companies. However, since both options have their pros and cons, it can be hard to gauge what’s better for your company. To give you a hand, here are a few scenarios where they can be the appropriate option:
When the Task Is Outside Your Field of Expertise: Choose to Outsource
One of the biggest benefits of outsourcing is that you can have industry experts working on the tasks that you can no longer afford to do in-house. You can remove some essential duties from your plate by transferring them to the outsourced professionals of your choosing.
For instance, you only have a basic understanding of how digital marketing and advertisements work; none of your current employees have a good grasp of those fields either. The best way to solve this problem is by working with a competent marketing agency that can help you make better campaigns.
Outsourcing is the right option for this situation because hiring in-house employees would mean that you still need to train them. However, because you lack the capacity to train them in that field of expertise, you will have to find someone else. And soon enough, you’ll be spending so much money just to prepare your new hires to perform their duties.
But if you worked with professionals who already have expert knowledge in their respective fields, then you won’t have to worry about giving them additional training. All you will have to do is discuss what you want to happen so that the experts can devise the right strategy to make that possible.
When You Can Save on Resources: Choose to Outsource
Another reason outsourcing can be the right solution to your problem is that it can help you save resources: time, money, and space. First of all, you can save time because you will no longer have to train the professionals to perform their tasks. Once you’ve discussed what you want to achieve, they can easily jump into the work to do what they were hired to.
The next resource you can save is money. This is because when you’re outsourcing work, you will only have to pay a fixed rate to get the service you need. If you were to hire in-house, you will need to spend on operational costs, salary, and employee benefits, as well as other related expenses.
And the last resource that you can save is space. Outsourcing is the perfect solution especially if the tasks can be done remotely because you will no longer have to make room on-site. You can communicate with the outsourced professionals via the internet or on your chosen project platform, but they won’t need to occupy space inside your office.
When You Need Long-term Help for Your Business: Choose to Hire In-house
Arguably the only time that hiring in-house will have the upper hand on outsourcing is when you need long-term assistance. That’s because outsourcing can be perfect for short-term projects, but if what you need goes beyond that, then hiring in-house will be the more practical solution.
With this, you’re going to invest both time and money in preparing your new employees to tackle the problems they were hired to solve. You might also need to seek help from management trainers to create proactive leaders who can bring your company one step closer to success.
Of course, there are other factors that you need to consider before making a hard decision that can lead to your success or defeat. So don’t make rash decisions; instead, carefully weigh your options. It might bode well to look at your short and long-term goals for the company to help you make a more informed decision.