Outsourced Business Solutions
Outsourcing is a business practice of hiring an outside company or individual contractor to carry out tasks and projects that were previously done in-house. Companies choose to outsource to reduce costs and fill in the talent gap.
The Deloitte data suggests these five main goals of companies that use outsourcing.
Outsourcing Examples
- Digital Marketing
- HR (IT Talent Acquisition)
- Business Development & Sales
Digital Marketing
Outsourcing marketing is a process of hiring third-party employees or agencies to do or oversee marketing activities. Marketing is one of the most common examples of outsourcing because businesses will always want to promote themselves in professional and unique ways.
HR (IT Talent Acquisition)
HR or talent acquisition outsourcing happens when a company hires an outside contractor to manage some or all of its HR processes. Those processes include recruiting, payroll processing, managing employee perks, and more.
Let’s take talent acquisition for example.
In this case, an external HR professional will take care of:
- Creating and posting job ads
- Finding qualified candidates online
- Contacting candidates and setting up interviews
- Taking part in interviews together with in-house HR professionals
Many HR outsourcing companies also do a lot of networking, so they can find a qualified candidate quickly. As a result, companies save tons of time and get the employees they need.
Data shows that outsourcing will become more and more popular in the future. In fact, it’s projected that the global HR outsourcing market will reach $45 billion by 2027.
Business Development & Sales
Why outsource something as important as business development and sales? Well, with so many projects on their plate, business owners find it tough to keep their companies moving in the right direction (and their sales pipelines full).
In the case of sales outsourcing—
Making this decision makes sense when you want to build your sales pipeline faster. For example, maybe you want a highly trained professional(s) to put your product in front of more clients or reach new markets.
Outsourcing sales also includes lead generation, research of new markets, and contacting clients and meeting with them. That’s why this outsourcing example is especially helpful for companies with small sales teams.