Growing your business can be a challenge. Finding the time and resources needed to make your business thrive can seem impossible if you work in a competitive industry or on tight margins. For many leaders, putting out fires can take up most of the day. This leaves no room for resolving important tasks, finding more clients, or having a proper work/life balance.
Outsourcing can present a solution to this problem. With a cost-effective workforce, companies have the opportunity to discover new growth opportunities. This article will explore the reasons why hiring more staff is essential for business growth. Then we’ll explore why it isn’t easy to do locally and how outsourcing can help.
Why Hiring More Staff is Necessary for Business Growth
One of the most significant reasons many businesses have been unable to grow past their current scale is that they haven’t hired enough staff. Here are just three of the ways a larger workforce helps your business grow.
It Allows you to Take on More Jobs
A business grows by taking in more jobs. However, if you’re under-staffed, taking on more than your team can handle has a high risk of rushed work and breaking promises to clients. Even if a job could be perfect for your business, growth becomes challenging without the staff needed to support its completion.
Leaders Have Room to Focus on Growing the Business
Without a large enough team, it’s easy for leaders and executives to fill the gaps new team members could be filling instead. The executive team should be focusing on keeping the business running smoothly. However, without the needed staff, this can fall by the wayside and cause problems in the long term.
It Improves Work/Life Balance
If your team is short-staffed, it can be easy to sacrifice work/life balance for the company’s good. If a task is due tomorrow and hasn’t been completed by the end of the day, someone must get it done. Similarly, if things are hectic in the workplace, team members may feel guilty taking days off even when it would be good for their wellbeing. This type of environment can lead to an overstressed and unhappy team, losing your business productivity.
Why Hiring New Staff is Difficult
Employing new staff has several benefits for business growth; however, it’s also difficult for many teams. Finding a new team member locally can be expensive and time-consuming. If your business is already running at total capacity, recruiting and training the new team member could make things even more difficult. This is before even considering if your business can afford to hire the number of needed team members.
How Outsourcing Solves the Problem with Hiring New Staff
In comparison to hiring staff locally, outsourcing can be much quicker and more cost-effective. This means you can gain all the benefits of a larger team without many of the downsides. Here are just some of the reasons outsourcing can be so effective:
Outsourcing is Substantially Cheaper than Local Labour
This is because the cost of living in countries you’re outsourcing to is substantially smaller than in Australia. For example, while the monthly cost of a one-bedroom apartment in the city is $1,704.80, the average in Fiji is only $823.38 (Note: modern two bedroom next to our office is Approx A$370 p/month).
Overall, the cost of living in Fiji is roughly 265% cheaper than living in Australia. This means you can pay less per team member while still paying a living wage. Building a specialised offshore team can save your business up to 70% on human resource costs.
Outsourcing Means you Save on Office Space
Usually, when expanding your team, you also need to worry about finding the space for them to work effectively. This is no longer a problem when outsourcing because the teams work from a modern local office. Additionally, at Our Pacific Office, we provide your new employees with a workstation with a desk and comfortable director’s chair, computer, and steady and reliable internet connection. This saves you even more money on equipment costs.
Your Outsourcing Partners can Cover Administrative Tasks
When working with a business like Our Pacific Office, we’re responsible for administrative tasks and management issues. We can focus on finding you the right team. Our Pacific Office then provides comprehensive onboarding and general training is then undertaken with you and your business. Additionally, we’re accountable for managing probationary periods and performance evaluations. This saves you the time you need to concentrate on inducting them and growing your business.
Conclusion
If you want to grow your business, it’s fundamental to find ways to expand your team. By doing this, you can take on more jobs, focus on what’s essential and improve team member wellbeing. However, hiring locally can be expensive and time-consuming. By working with an outsourcing company like Our Pacific Office, you can bypass these issues and help your business expand.
If you’d like to learn more about how outsourcing can help your business grow, get in contact with us here.