The idea and concept of project outsourcing has gained popularity over the years. Businesses have identified that outsourcing certain aspects of their business actually helps save costs & time, improves efficiency, promotes flexibility and it spreads the risks out more evenly. Let us take a look at some of the benefits of project outsourcing in detail and also when a business should consider outsourcing.

• Reduced Costs

When adopting a project outsourcing service, it may seem very costly at the start but when you measure it against the cost of hiring your own team, the time taken to implement new policies, the cost of integrating HR technology and the resources used to maintain the entire department – outsourcing is in fact more cost-savvy.

In the long run, a business can actually save time, grow more efficiently and focus on profits without compromising on other business processes. The reduced costs is usually one of the main benefits of project outsourcing, especially for startup companies, whose budget may be limited.

• Focus resources on core processes

Most project outsourcing companies have flexible packages for companies to customise based on their needs. Doing so will curb unnecessary expenditure on processes that are under utilised or even unnecessary in the first place. Once all these processes are delegated, a business can reallocate resources more efficiently to focus on core processes.

Doing so improves the productivity and morale of the company as a whole as employees can focus solely on their tasks without having the need to assist in other ad-hoc duties.

• Industry experts and technology

Having an internal team does have its benefits but it may take too long to integrate new technologies and staff. Project outsourcing agencies on the other hand are equipped with professionals whose niche focus is on particular processes like Human Resources. Depending on the needs of a business, a project outsourcing agency is able to provide industry experts to not only carry out tasks but to also provide consultation for the business.

Project outsourcing agencies have also invested in technologies applicable to their focused industry. Businesses can then leverage on these technologies without having the need to pay, implement, integrate, train employees and maintain these systems.

Imagine a team of industry experts equipped with the latest technology working for your company – without you having the need to pay the full cost of it!

• Flexibility

When paying a project outsourcing services company, one usually pays only for the services they need. This will then transform a fixed cost into a variable cost. A business can also terminate an outsourced service without having the need to terminate their own employees or pay compensation packages.

This variable cost can be easily controlled and can be terminated without extra costs or when a project is accomplished.

• Spread Risks

There are many kinds of outsourcing services agencies with niche focuses depending on industry or process. There are no limits as to how many processes a business would like to outsource and by partnering with outsourcing companies with niche focuses, it reduces the risks and promotes specialisation.

Especially with long-term projects, putting all your eggs in one basket is a risky and often erroneous decision as the outcome of the entire project simply rests on the shoulders of one outsourcing company.

So now that we’ve elucidated the benefits of project outsourcing and if you’re thinking of integrating a project outsourcing service for your company, the next step is identifying if it is the right time to do so and how to go about doing it!

Besides costs, the most crucial factor is to ensure that the company has a consistent track record and is also transparent in their processes. Which is why at TalentSpot, we focus on achieving goals while involving our clients in every step. We take pride in our consistent track records and top-notch service when it comes to our partnerships.

We’ve worked with over hundreds of clients in different industries worldwide. With over 500 professionals and branches within 8 countries across South East Asia, TalentSpot is your go to HR outsourcing partner for all your outsourcing needs. We are the one-stop HR solutions partner you need – from executive search, to recruitment process outsourcing (RPO), contract staffing, human resources outsourcing (HRO) and payroll outsourcing.

Contact us today!