As many as 300,000 positions are outsourced every year in the United States, with 59% of businesses using outsourcing primarily as a way to lower their overall expenses. By contracting with an outside party to perform certain tasks instead of using existing employees or hiring new ones, businesses can effectively free up the time and resources they need for successful growth. Outsourcing can help you save money and lower outgoing expenses, boost productivity in in-house and remote teams, and access experts as and when you need them.

Save money

By saving money and preventing unnecessary expenses, you can effectively free up capital to invest elsewhere in your business. However, the overhead costs of running a business can be high, which ends up stalling growth and progress. Fortunately, outsourcing provides you with a way to lower your outgoing costs and save valuable money. When you outsource work, you're not required to pay the contractors a regular salary as a permanent part of your team. So when tasks and responsibilities arise that'll either cost too much or take too long to fulfil yourself, and would create inefficiencies in your day-to-day operations, outsourcing can be the perfect money-saving solution.

Boost productivity

Outsourcing is great for productivity. It essentially frees up employees to focus on the tasks and responsibilities they do best, which boosts productivity, efficiency, and, in turn, job satisfaction among employees. The types of tasks most commonly outsourced are those most time-consuming and monotonous, such as data entry, administrative tasks, event planning, and public relations. By outsourcing these tasks, your in-house team can focus on the strategic initiatives (like strengthening business relationships or product development, for example) required for business growth. Additionally, by making sure your outsourced team remain engaged and motivated in their work, you can ensure maximum levels of productivity and efficiency. For example, scheduling regular meetings every day with your remote team is a key way to foster a sense of connection, stability and cooperation, which ultimately helps boost motivation and engagement.

Access experts with ease

Larger projects can often call for talents and skills lacking among your in-house employees. When your team needs to perform tasks outside of their expertise and pay grade, you naturally end up either spending more money to train employees and get the job done (or potentially risk completing the job to poor standards). Outsourcing, on the other hand, gives you a way to bring in people who already have the specialized skills you need. You're therefore able to benefit from experts in the fields as and when you need them. This is a cost-effective approach that also provides you with a competitive advantage.

Outsourcing can be of immense value to businesses looking to expand and grow. In particular, outsourcing can help save money and lower outgoing expenses, boost productivity among in-house and remote employees, and provide you with instant access to experts when you need them.