Many businesses are hesitant to work with third parties to handle some of their core functions, and that’s a shame. They don’t realize how much more difficult it is to handle all of these different parts and the consequences of having people who may not be the most qualified to do them.
Outsourced teams, the reputable ones at least, are experts at what they do and could give you access to a level of expertise you might never have on your own. They could also allow you to save in many ways. Let’s take a look at some functions all small businesses should consider outsourcing.
Very few small businesses need to hire an IT expert or a team. IT professionals don’t need to monitor your systems 24/7. IT management is mainly about screening for irregular activity and performing maintenance. Unless you largely rely on your network and you have to monitor your systems constantly, having someone in-house will be too much and they might not have much to do most of the day.
Outsourced IT teams focus on IT only and attract the best talent. They have all the best and latest tools as well. A good team will also be accessible in case of emergency and have someone come to your facility if needed, all without having to keep someone on your payroll.
You most likely don’t need to hire an accountant full-time either. And you should think twice about managing your books yourself. You could easily make major errors that could be costly and open you up to fines and legal action. Try to find a good accountant who’s familiar with your line of business. They know tax laws in and out and could help you with things like forecasting. They could also help you identify areas where you might be overspending.
HR functions should be handled by a third party if you don’t have the expertise yourself or only have periodic needs. Small businesses usually don’t need to have an HR team on their payroll. If you hire someone or build a team, you will need to find ways to keep them busy. If you work with an outsourced HR team, you will only have to pay for services rendered.
If you’re located in Salt Lake City, for instance, you could hire a service that will handle everything from recruiting to payroll. Payroll management and HR services Salt Lake City like G&A Partners will be able to sit down with you and evaluate your needs and challenges. These firms have all the expertise and technology needed to handle every single aspect of HR and give you measurable results. You’ll get better employees, improve retention rates, and be more productive.
These are all functions you should consider outsourcing right away if you’re a small or medium business. Letting experts handle core functions will allow you to reduce administrative bloat while cutting costs and increasing productivity.