Outsourcing: The road to recovery after covid
It is undeniable that COVID has severely impacted countries across the world and left the economies everywhere in disarray. The government imposed lockdown across the globe during the initial months deeply affected the business world. It resulted in many businesses being shut down forever, while many others came close to losing their companies. The small and medium enterprises, with their limited resources, are the worst hit. Even now, when the lockdowns have been lifted, the recovering process is slow. The threat of the virus persists amongst us, and people are wary of returning to their everyday lives.
In these circumstances, outsourcing has emerged as the unforeseen savior for various industries. Outsourcing has been a huge hit amongst big companies for decades. The economic advantage it offers cannot be questioned. Over time even the small businesses have been trying their hand at outsourcing. Outsourcing has always helped companies reduce their operational costs. Now, when the businesses have suffered an economic blow and do not have huge sums at their disposal to rebuild, outsourcing can help them cover their needs.
Due to a lack of sufficient funds, many companies were forced to let go of some employees. Now that the businesses are opening, they do not have the means to hire local labor or operate their functions on that scale again yet. Every company is looking to save money by bringing down operating costs. Outsourcing has been long used as a way to cut down costs. Small businesses can outsource services to offshore locations to leverage their cheap labor.
By outsourcing, the businesses can hire offshore employees at a significantly reduced price and fill the gap left due to employees they had to let go of employees that they cannot hire locally anymore because of budget restrictions. It allows them to resume working on their projects without stopping or delaying it. Countries like India are known to offer qualified and experienced employees, so the quality of services is not in question. The businesses are provided high-quality services at a low price by outsourcing to offshore locations, which is the need of the hour. By cutting down their operating costs, businesses can expect to survive in this market today.
Furthermore, when a company outsources its services using the offshore staffing model, they have the added benefit of controlling the outsourced operations. Offshore staffing service providers can hire employees from various industries as per your need. Whether it be IT, accounting, marketing, legal, or architecture, they can cover all your hiring needs at cost-effective prices. The employees hired by the service provider work for your company as per your instructions and guidance. So, if your company requires them to speed up or speed down, or incorporate some changes based on the business climate in your country, you have the authority to do so. These employees are an extension of your in-house staff, the only difference being them working remotely for you. Offshore staffing allows greater control over the services a company outsources, which lets them set the work’s tone based on their needs.
Working remotely, given the current scenario, works in favor of businesses everywhere. Your employees are working for you remotely, which eliminates the risk of interacting in person. Outsourcing, by its very nature, maintains the protocol of social distancing. You will be communicating with them via emails, messages, and phone calls, thereby minimizing exposure to the virus.
We cannot refute that the world has changed since the virus first hit us all. The changing times require a new approach that factors in the ‘new normal.’ Outsourcing offers the best means of survival for businesses today. The need is to reduce operating costs for the foreseeable future. The recovery may be slow and staggered, but it allows you to keep afloat in a market where companies are sinking everywhere. The goal is to stay functional and weather these difficult times to the best of our abilities.
Canbay International has been operating through the entire pandemic. We remain open to our clients, and our employees work entirely from home, ensuring they stay safe and productive for our clients during this crisis. We offer flexible and cost-effective services depending on our client’s budget and requirements. We understand how this pandemic has cost people their companies, so we are ready to offer our services to help you cut costs and remain open.