Whilst outsourcing became popular in the wake of the Great Recession, this was largely due to the pressing need for businesses to reduce their operational costs. Although it’s widely believed that companies have subsequently moved away from outsourcing as the economy has improved, this is not necessarily borne out by the figures.
In fact, a study by PA Consulting Group found that nearly 35% of British firms who outsource are planning to scale up these efforts over the course of the next 12 months. Overall, the outsourcing market grew by an impressive 4% last year, and this trend is expected to continue in the near-term.
The enduring popularity of outsourcing is based on more than cost savings too, with this offering a unique opportunity to review your business through a fresh pair of eyes. The same principle applies to the use of third party service providers and interim managers, but how exactly can this benefit your business?
How can Fresh Eyes Benefit your Venture?
In the case of outsourcing, this can expose your business to unique expertise and insight that may not exist internally.
As a result, this can often lead to the development of streamlined and more cost-effective processes, whilst it can also optimise efficiency when the function of your back office has been compromised by staff turnover, diversification or continued growth.
Hiring interim managers or executives can also improve the efficiency of your business, particularly if they have years of experience and expertise in a specific sector. Not only this, but an interim manager also brings some objectivity in terms of how they review your company processes, as they’re not wedded to existing measures or failing systems.
During periods of change or difficulty, an interim manager can also bring focus and a genuine sense of calm to your business. This can prove crucial, whilst another benefit of bringing in seasoned professionals on short-term contracts is that they’re often able to execute a specialist skillset in an incredibly productive manner.
How to Make the Most of a Fresh Pair of Eyes
Whilst there are numerous benefits to introducing a fresh pair of eyes to your business, much depends on your ability to identify the right candidate or external service provider.
This is particularly important when hiring an interim manager, as not only will this individual need to hit the ground running in most instances but they’ll also have to adapt to the company culture and work well with your permanent employees.
Ultimately, an interim manager should also leave a positive legacy behind them when they depart, so their personality and communication style are also key considerations.
Other than that, you’ll need to make sure that the recruitment of an interim manager is relevant and makes perfect commercial sense.
This should coincide with the start of a specific project or business development, whilst the potential value added by such an individual should always outweigh the considerable costs of recruitment.