Cutting costs, adapting and rebuilding: How offshoring can help
08th June 2020
Having forced many companies into remote working, COVID-19 has proved a game-changer in the way business gets done. Sceptics may still be thinking their teams perform better in the same physical space and that their usual work model will resume once current concerns subside. However, the last few months of direct remote working experience have proved to many that the challenges are far outweighed by the benefits. A new business strategy is demanded in order to survive. Fast-moving, agile businesses will seize new opportunities and thrive now and into the future.
During these challenging times, all businesses need to be focusing on cost-cutting, adapting and rebuilding. You have to do more with less. You have to evolve and be creative. This is the new business imperative for 2020.
It might sound counter-intuitive to think about taking on new employees in a crisis, yet offshore teams can be the answer for your business going forward. The benefits of offshore teams include reducing costs related to office space. In fact, companies that don’t cut real estate costs going forward are committing strategic suicide. In a post-COVID world, businesses that remain full-time office-based will be replaced by remote-based competitors who drastically cut this cost. A crucial strategy to consider during this disruption to business as we know it.
Just as companies who adopted technology twenty years ago replaced every company that didn’t, companies who adopt remote working will replace every company that doesn’t in twenty years. The reasons are incredibly simple: talent and efficiency. A leaner operating model that excludes office costs will create a competitive advantage. Offices prevent you from hiring the most talented people as a physical location means you can only hire the best person you can afford within a thirty-mile radius. Taking on offshore teams means you can hire talented people at a fraction of the cost. Office real estate costs in traditional business hubs like Sydney or London are also significantly higher than taking on an offshored team somewhere like the Philippines. Not only will you conserve cash on office-related costs like IT setup and equipment, facilities management and desk space, but partnering with a trusted offshore outsourcing provider will take away the headache of dealing with data security, HR issues and other related concerns.
COVID-19 has given comfort to businesses that remote work works. If the job can be done in front of a computer, it can be done offshore - more cost-efficiently - and more competitively. If you’re considering cutting costs, adapting and rebuilding with super-smart offshore talent, download our eBook, "30 Essential Questions to Ask a Provider Before You Outsource’'. It will ensure you're informed and have the right questions to ask when considering the next step.