Small business owners have to get it all done, from the vision and finances for their venture to the day-to-day operations. Business Process Outsourcing (BPO) is a valuable tool for small business owners that creates an environment in which everyone is on the same page, feels good, and achieves the goals of your organization.
How Does BPO Create Cost Savings for Small Businesses?
Cost savings is one of the greatest benefits of BPO for small businesses. From recruiting, hiring, and onboarding costs to the infrastructure of office space, desks, computers, and software, running a business is expensive. By using BPO for some functions, you automatically reduce both human resources and infrastructure costs. Your BPO partner takes care of all of this.
If you have seasonal aspects to your business or may need to scale up (or down) in the future, not having locked in high costs like a specific contract for office space or a specific number of computers can help you to be more flexible as your needs change. Hiring permanent staff can be particularly challenging as your business needs change. For many businesses, this means having a small core of full-time staff dedicated to the most important aspects of growing your business.
How Does BPO Focus on Core Competencies to Create Leadership and Motivation in the Workplace?
Successful professionals know that delegating is a major key to achieving their goals. By choosing BPO, you can concentrate on providing excellence within your core competencies and have skilled professionals to handle outlying, but essential, tasks.
Your key employees can concentrate on the personal development that is most meaningful for your company and most effective for them. Great leaders hire great people and then make sure that they excel in the areas in which they are most fit. This creates a win-win for both you and your employees. Let a solid BPO service handle the tasks that take up so much time and aren’t within the core competencies of your staff.
Does BPO Increase Agility?
In our digital world, the competition is only a few clicks away. Agile small businesses have the opportunity to compete with larger businesses in ways that were not available to their predecessors. With a skilled BPO, you can be available for your customers 24×7 and deliver your products and services with both speed and efficiency that would not be possible otherwise.
How is Diversity Linked with Creating Leadership and Motivation in the Workplace?
As a small business owner, you know your target demographic. Chances are you can describe this person in detail concerning their age, gender, where they live, their household income level, their buying habits, and their outside interests. Meeting the needs of a diverse target demographic is not the work for a small, non-diverse staff. Regardless of the professional prowess of your team, if you want to create a diverse reach for your products and services, you are likely to need cultural competencies and language skills that go beyond your immediate team members.
By taking advantage of BPO for your customer service, marketing, or sales, you can make your brand footprint more diverse and demonstrate your leadership in the marketplace. Both successful offshore and nearshore call centers can give you the ability to hire professionals with the linguistic skills to meet your goals. And they can do it 24 x 7 in state-of-the-art facilities.
How Can BPO Help with Performance Management in Small Businesses?
Performance management is an opportunity to inspire employees to be their best both for their personal development and for the goals of your business. However, if performance falls short, performance management can become a cumbersome procedure. The simple truth is that migrating some tasks to a BPO provider may be easier than cutting loose poorly performing employees and then being faced with the costs of recruiting, hiring, and onboarding new people.
Save your time and effort for the strategic actions that will help to grow your business and for inspiring and motivating the employees whose functions are already working well for your company. Let BPO delegate away the rest to the right professionals for the job.
What is the Big Picture for Small Businesses and BPO?
According to a report by global market research firm Technavio, the BPO market will grow by $40.16 billion during the next five years, proving what a valuable tool it is becoming for businesses of all sizes.
Regardless of your specific industry, as a growing business, you can benefit by delegating some of your jobs to BPO. Often, professionals who are new to the idea of BPO think of it as a call center that can handle customer service questions or technical support. These can certainly be part of how BPO can be of use to your company. However, the wealth of tasks that you can delegate to BPO also includes lead generation, inbound and outbound sales, accounting and collections, payment processing and more. As all small business owners know, small business is big business — and that means taking advantage of the tools that will benefit your business the most to keep you competitive.
Become a Savvy Business Owner and Check Into BPO Today
Learning the important lesson of delegating certain aspects of your business will go a long way to freeing you up for more important tasks. Contact Confie today to learn how we can help your business create leadership and motivation and achieve your goals.