How to Assess the True Costs & Benefits of Outsourcing

When in business, we all need to ensure we are as profitable as possible and so assessing the true costs and benefits of any project we undertake is essential. The same applies to outsourcing. But, why outsource?

“Outsourcing” involves handing over business-related or personal tasks that you don’t have the time to deal with, or simply don’t have the skills to complete effectively, to an external company. Outsourcing saves both time and effort (allowing you to work smarter, not harder), and so can be a very powerful way to increase the rate of growth of your business. This is why the UK Virtual Assistant industry is growing so rapidly at the moment!

Of course, there are costs involved with outsourcing, but the benefits you’ll reap will certainly outweigh these, especially if you approach outsourcing with the right mindset and proper planning. But what are the benefits?

Firstly, outsourcing to a Virtual Assistant will lower your operational costs compared to hiring permanent staff, who demand much more than the hourly rate you might think you pay them. To name only a few costs to bear in mind when employing permanent staff, there’s National Insurance contributions, paid holiday allowances, training, travel expenses, pension schemes, sick pay, payroll and increased office overheads, as well as the demand on your time spent effectively managing these staff. By the time you’ve advertised for a job position, spent money on Marketing and recruitment, (not to mention the cost of your valuable time) and hired and trained the candidate, it can come as a bit of a blow when they turn round and hand their notice in! This is why outsourcing is not only an attractive prospect for businesses, it makes financial sense! Don’t forget the commitment you make to these staff is also just that, a commitment.

Increasing the number of contracted commitments you have in your business only serves to increase your operational risk. Imagine a well-funded competitor emerges into the market next year, are you in a position to quickly and painlessly shrink your business if needed, however temporarily? With a Virtual Assistant platform like Virtalent, you have no fixed commitments – you can leave at any time and add/remove the number of Virtual Assistants that you work with whenever you like. Let us bear the burden and risk of employing staff to work on tasks for your company! Outsourcing doesn’t have to be a painful transition, it can take little or no time at all to sign up to a platform like Virtalent, and before you know it, you’ll have somebody ready to start the next day. Simple.

We’d also like to challenge to you assess the true financial return you receive on your wage bill. Sure, the staff you pay may actually be in the office, but how much time are they actually spending on completing tasks, each hour? What if they mess up and have to redo the task? Take a UK Virtual Assistant from Virtalent. They will track the time they spend working on each task you send them to the exact minute, meaning that they only bill you for the time spent helping to grow your business and not simply for being sat in front of their computer. Then, if they don’t complete the task to a high standard (a rare occurrence!), we’ll look at not only refunding you for the time spent working on that task, but also look at redoing the task free-of-charge!

Why not make your business more results-orientated and more averse to risk, so you can get back to focusing on the opportunities that will really grow your business over the next few years?

Want to find out more?

Book a consultation today to speak to one of our Co-Founders.

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