As a business owner, you need to make decisions that will strategically influence the growth of your company. One of these vital decisions is whether to insource or outsource a specialist to do a job for you.
Here is a comparison between insourcing and outsourcing process to guide you in your decision-making:
This is the process of hiring a specialist on a temporary basis to perform a vital short-term project for the company. Another way is to train an in-house staff to do it.
- It is easier to monitor the project progress.
- It provides face-to-face conversation.
- It quickens the resolution of an immediate problem that may come up.
- It provides a unique opportunity for your insource staff to learn new trends and innovation in the industry.
- It encourages growth and promotion among your in-house employees.
- It fosters more solidarity and team spirit.
- It is more costly compared to outsourcing.
- It takes time to find the ideal person to do the job.
- It is more stressful to skill up your in-house staff especially if they have no prior experience.
- It is time-consuming to recruit a specialist.
It employs a strategy to hire a third party to do the task. This service provider can be an agency, a consultant, or a freelancer.
- It is cheaper to outsource the project. You only pay the cost of services provided.
- It is easier to find outsource provider through the Internet and social media. There is also a software that keeps you and your remote hired worker on the same page.
- It allows access to highly-skilled and professional specialists across the globe.
- It is simpler to find the perfect remote outsource staff compared to hiring a new employee to work in the office.
- It guarantees continuous work and no time down.
- It keeps your enterprises operational 24/7. Your outsourced employee is working on the other side of the globe while you are sleeping.
- It requires to strictly guard your intellectual property rights and confidentiality.
- It may entail frequent delays in service delivery due to miscommunication, inaccuracies, or communication lag.
- It is of utmost importance to hire an external provider who can speak your native language to prevent a possible problem.
- It is more difficult to communicate if your hired remote worker does not speak your native language or there a large time difference especially when there is an urgent matter to discuss.
- It opens the possibility of low productivity unless you are using a project management software where you can track the progress of the task.
In the end, the most important choice is in your hands. Decide which between insourcing and outsourcing is suited to enhance your business’ productivity and growth.