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Given the fast-paced nature of today’s business operations, outsourcing – the practice of hiring a party outside of the company to perform services that were once tasked to in-house staff – has become a valuable tool for increasing productivity.
Factor in the cost savings attributed to tasking a remote-capable workforce with the daily operational responsibilities of back full-time employees (FTEs), and it’s clear to see why so many companies are embracing the outsourcing model.
This article will examine the advantages and challenges associated with outsourcing your daily administrative, customer service and back-office support responsibilities.
The flexibility of outsourcing for business support staff
First recognised as an effective business strategy in 1981, the concept of outsourcing became a fixture of business operations throughout the 1990s. In the wake of the global disruption caused by the COVID-19 pandemic, the reality of a remote workforce saw a renewed interest in the concept of business process outsourcing (BPO).
Forced to adapt to a remote model, many business leaders learned the value of casting a wider net when looking to onboard the best candidates for the job. A recent report published by Grand View Research indicates that the global BPO market was valued at $245.9 billion in 2021, and is expected to grow at a compound annual growth rate (CAGR) of 9.1% from 2022 - 2030.
Suddenly, restricting viable hires to those living within the geographical region of the office was completely eliminated, and the search for the right fit went global. While considerations regarding the alignment of work hours was now a priority, the BPO concept presented far more benefits than drawbacks.
In the wake of the “new normal,” many businesses have continued to embrace the outsourcing and remote work model, delegating important operational tasks like telephone answering services to qualified external professionals.
In fact, a recent Cybercrew report updated Genius Outsourcing Statistics for 2022 to reveal that 71% of U.K. companies planned to outsource in order to reduce operational costs.
Often referred to as virtual assistants (VAs), these remote professionals can increase productivity and lower overhead costs while integrating seamlessly with your onsite workforce.
The benefits of BPO
Outsourced services can help your business significantly reduce labour costs. The ability to task outside organisations with the completion of daily administrative work is typically tied to a different compensation structure than with your in-house employees. Your company can choose a service with significantly lower compensation structures than those traditionally afforded onsite staff – to say nothing of the savings attributed to foregoing pay for holidays and time off.
Statistics estimate that up to 53 workdays are lost on average in the United Kingdom annually – adding up to 20% of the work year that employers are paying for time off. The pay-per-hour model of a business support solution reduces both the costs and productivity losses associated with a full-time employee.
While the cost benefits of BPO are impressive, the most significant savings come from the productivity given back to your management infrastructure. After all, the hiring process takes up plenty of this valuable commodity, to say nothing of the resources spent bringing a successful candidate up to speed on the business practices and nuances that make your organisation unique.
Imagine being able to instantly onboard a plug-and-play professional, or – even better – a dedicated team of knowledgeable business support experts who came armed with the experience to handle your operational tasks immediately, from day one.
What to look for when outsourcing
Face it – small tasks can take up big time. The ability to delegate the operational necessities of your company might not come easy to you – after all, many small-business owners have gotten to where they are by handling everything themselves.
Finding a virtual assistant can effectively lift these tiny burdens from your proverbial shoulders – the key is simply placing your trust in the right one. Researching qualified professionals who have experience in the administrative field can save you both time and money.
Here’s how to select the right candidate.
- Align your business practices with expectations for daily tasks. In other words, be specific. What are the tasks you’re comfortable with delegating, and what do you expect a virtual assistant to accomplish daily? From general assistants to specialists, no two VAs come with the same skill set. Resourcing the correct experience for your business needs is essential.
- Keep your valuable data and information protected. Two-factor authentication and private WiFi connectivity should be a must. Ensuring your candidate’s security standards match your own can protect your valuable data and resources.
- Speak the same language. Qualified bookkeeping and payroll assistants versed in the employee management software and graphic design programs your business utilises are out there, and equipped with the knowledge needed to step in and assist immediately.
Naturally, despite the benefits associated with a business outsourcing strategy, there are challenges as well. Effective BPO solutions ensure that priority tasking is established. Some virtual assistants may have multiple clients, who each have their own priorities that could eat away at the time your assistant spends on the needs of your business. Others will be willing to exclusively remote work for your company, but will have restrictions based on time zone differences, scope of practice and other factors that can present themselves when working out the logistics of their workday.
Selecting between freelance and admin-managed virtual assistants is the last significant consideration when determining the best BPO strategy for your organisation. Independent operators may come with a reduced cost, whereas leveraging a managed team of assistants can ensure everyday availability and optimised efficiency of your outsourced workforce. Factor in timezone alignment, the preferred tasks of your incumbent staff and the needs of your daily operations, and make the choice that best propels your business forward.
Bespoke SmartPA solutions enhance your business
SmartPA is the number one administration and business outsourcing provider in the world. Offering services designed to disrupt the perception of remote admin workers, our handlers integrate seamlessly with your operational needs and provide consistent access to the professionals best suited for the task at hand. Allow us to handle everything from travel management to the essential front-of-the-house responsibilities that keep your business running.
Have you imagined the freedom of ignoring your inbox, without the often crippling anxiety associated with missing important information? With SmartPA business outsourcing solutions, that particular dream can become more reality than nightmare. Our team of professionals are highly trained and accredited, and can manage everything from your inbox to your daily calendar. We pride ourselves on delivering 100% appointment retention – meaning we’ll answer every call and email so you don’t have to.
Our cost-effective and highly efficient business process outsourcing solutions are ready to handle your crucial administrative and secretarial needs. To receive a quote tailored precisely to your operational needs, contact us today.