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How to Take Your Business to Heights by Building Remote Teams
Over the past decade, the proportion of employees working remotely has nearly doubled, and millions of workers are now employed remotely. According to research by JobStreet, 52% of Filipino employees have already been working remotely for years.
This shift has been driven by technological advances that have made it easier for workers to stay connected to their colleagues and a desire among employees for more excellent work-life balance and flexibility.
At the same time, there has been a significant increase in companies outsourcing work to remote and offshore teams to reduce costs. The trend towards remote work is likely to continue in the years to come as more companies adopt flexible working arrangements and as the pool of workers with the necessary skills to work remotely expands.
Critical distinctions between onshore and offshore outsourcing
Outsourcing that takes place “onshore” is when the job is given to a firm that typically has its permanent establishment in the same nation as the outsourcing service provider. Domestic outsourcing is another name for it.
Offshoring is the process through which a company moves a sector or a portion of its operations to another nation. Its primary goal is cost reduction through the utilization of foreign conditions. It is a desirable alternative because of the lower salary expectations, laxer labor laws, and lack of environmental controls in many developing countries.
Proper outsourcing can offer a variety of long-term advantages: Limit the cost of capital
Cost reduction is undoubtedly an essential consideration in outsourcing. You may avoid making significant investments at the beginning of your firm by outsourcing since it turns fixed expenses into variable costs, frees up money for use elsewhere in your company, and reduces fixed costs.
Since you can put more money straight into revenue-generating operations thanks to outsourcing, your company may become more appealing to investors. However, it is not the only advantage of outsourcing.
Development, research, sales, and marketing costs are significantly more significant for companies that handle everything independently, and these costs must be passed along to customers. Your business may benefit considerably from an external source’s cost structure and economies of scale.
Swiftly begin new tasks
A reputable outsourcing company like Outsourced.ph has the tools necessary to launch a project straight immediately. When a project is handled internally, it may take weeks to find the proper candidates, train them, and offer them the required assistance. The beginning phase might also be challenging if a project requires significant capital expenditures (such as creating several distribution facilities).
Keep your primary business in mind
Each company has finite resources, and each management has limited amounts of time and energy. By focusing on tasks that assist the consumer rather than ancillary tasks, outsourcing might help your company’s management more clearly define its objectives.
Outsourcing Statistics in the Philippines
The Philippines’ share of the worldwide BPO market, which ranges from 10 to 15 percent, is accounted for by the local BPO industry, which has expanded at a compound growth rate of 10 percent during the previous ten years. By 2022, according to industry analysts, industry revenue will be $38.9 billion, and by 2028, 2.5 million people will be employed in outsourcing.
Building Remote Teams: Final Words
Companies that offer outsourcing services give people and businesses access to various services that may be performed remotely. Web development, web designing, software development, sales & marketing, administrative support, business services, and customer services are just a few benefits that outsourcing firms offer.
In general, it may be done remotely using a phone or a computer, or it can be done while working in the premium offices of outsourcing companies.