outsourcing
We’re more than halfway through 2023, and we still haven’t run into the feared recession everyone was prophesying six months ago. But the economy remains shaky, all the same. That said, wise business leaders are keeping an eye out for cost-efficient strategies, such as outsourcing, to help minimize costs for the foreseeable future. One area that soaks up a ton of resources is payroll. Before you start outsourcing everything in sight, though, it’s important to consider what positions your business should keep in-house and what responsibilities you should pass off to third parties. Here is a thr...
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“If you deprive yourself of outsourcing and your competitors do not, you’re putting yourself out of business.” – Lee Kuan Yew Outsourcing is a business practice wherein you hire a party outside your company to perform certain functions. These functions are usually those that your people don’t specialize in, or the process consumes too much time. By outsourcing such functions, you help your workforce with free time and energy to devote to the tasks that they specialize in. Moreover, when you outsource, productivity increases manifolds. Not only this, but your employees also become more likely t...
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