The planet’s got talent. Yes, thank you Captain Obvious! Yet, companies from all over the world act like talented employees are a species on the verge of extinction. Besides common reasons such as workforce retirement, some experts say that companies are to blame due to their expectations. Competitiveness in modern enterprises shifted from business strategies to value creation and talent retention.
Nowadays, talent is considered the most valuable resource that a company can have. Yet the gap is growing. Companies struggle to fill open positions especially when it’s about skilled technicians. Even when they do, the struggle continues and frustration grows as headhunters lurk around. If you’re in this situation, you’re not alone.
If mature companies find it difficult to deal with a talent shortage and employee management, what would it be like for startups, small and medium-sized companies?
What to do? Outsource your HR department
Starting your own HR department would be highly expensive if you don’t have experience in the sector. Think about outsourcing your HR. If your time and resources are limited, HR outsourcing would reduce costs and avoid time-consuming tasks. HR companies manage every function related to this department at a lower cost. If you still haven’t given a thought to outsourcing so far, you will do it soon.
There’s an unwritten rule in the outsourcing industry. It says that if you can outsource a specific business process, it will be less expensive than when performed in-house. HR outsourcing lifts a heavy burden as it makes sure that all functions are completed on time. These companies take care of recruitment and training, coaching, talent development, payroll, health care benefits, performance management, risk management, temporary staffing, and everything related to your employees.
On the other hand, you reduce all the expenses for an internal HR department such as benefits administration and health care benefits.
On the other hand, you can outsource, every business function that doesn’t affect the company’s competitiveness but has to be done. Therefore, you can keep your internal team focused on what’s important and at the same time create value and serve your clients.
Outsourcing can help you find skilled specialists for services such as accounting and bookkeeping, social media marketing, tax preparation, customer support, and everything that would affect the culture in your company and most of all, performance. Talent is available worldwide, and outsourcing is the way to have it. You can search for partners based on your specific requirements. It can be located nearshore or offshore.
Choosing an outsourcing partner depends on factors such as experience, location, time zone, communication and language proficiency, cultural affinity, opportunities for expansion, etc. Major emerging destinations are gaining more and more attention, especially in South-Eastern Europe. Poland, Bulgaria, Albania, and Ukraine are outsourcing destinations with a bright future ahead.