Need of outsourcing: Be it business tycoons or say start-ups or say any workspace, a single mind cannot work for all. It requires someone to share the load so that it can generate better output and allow himself to direct his mind in the direction that requires more of it.
Switching to our heading there is no direct answer to it. Both outsourcing and in-house have their own pros and cons. But gradually as you go down you will find the answer to it.
Before proceeding let us understand the two terms i.e. outsourcing and in-house.
Need of outsourcing: Hiring a group of people from other companies or hiring a set of people independently to work for their company. This involves transfer of employs from one company to other.
It comprises of a team of your own company, who is personally available to work with you. This helps you to easily communicate with your team.
What is the need for outsourcing?
Need of outsourcing: When the task is necessary but repetitive in nature and consumes a good amount of time(e.g. Payroll), outsourcing that particular task will help you to save your time and will help you to focus on more important sectors and will set your mind free to be more creative and generate better output and further generate a bottom- line for your company.
It is a cost effective source to get your task done.
Pros and cons of outsourcing
Every decision before implementation has to pass through a list of pros and cons for better execution of that decision. The same goes for outsourcing. The points mentioned below will help you in analyzing your task before outsourcing it.
Benefits of outsourcing
Need of outsourcing: The people outsourcing, generally have experience of working with multiple companies, this helps them in being versatile and flexible towards their job that makes their work as their symbolic expertise.
– The energy of you and your teammates (in-house) can be channelized into tasks that will help in increasing the company’s bottom line and boost the level of your company in the business market.
– Professionals being expertise at their job, take less time to complete the given task thereby saving time.
– Time management becomes easy, you do save time. (As we know time is money)
– In outsourcing, the person is available 24 x 7 to perform the assigned task.
Demerits of outsourcing
– You are not in direct contact with the person, who is doing your work. That further disables the understanding and vision related to the assigned task. This would suddenly degrade the quality of help required.
– A person may leave his or her job without any pre-notification unless a contract is signed.
Pros and cons of in- house
Benefits of having an in- house team
– An in- house team is easy to communicate and there is better sync of ideas.
– Physical availability is itself a factor that improves work quality.
– When there is a bunch of brain sitting together, the discussion amongst them generates better ideas.
Demerits of in- house
To mention as such there is no significant demerit of in- house team, besides one that also pop-ups on comparison with outsourcing professional i.e. in- house team is not available to serve 24×7.
Inference from the above points signifies that both in- house and outsourcing team is equally beneficial but the presence of outsourcing team, boosts the performance of the in- house team by providing an extra set of time that is used in working on more important topics or say higher priority sector. That would end up in reducing the stress level of people working in- house as well as lift up the company’s performance.
Undoubtedly the pay of an outsourcing professional is greater than that of an in- house employ because of its 24×7 availability. This extra expenditure is far more beneficial in generating a bottom- line.
To pen down I would say, time is always precious than money, spending cents in saving time will make you earn dollars for that time. So it is better to focus on output rather than cribbing and freaking for the inputs you give in.