Work-from-home aids employers in saving that extra travelling time, money and focus better on the job. Moreover, when employees feel that they have more right over when and where they work, they are inclined to feel happier and all the more productive. Furthermore, as employees can spend more time with their loved ones, it facilitates a better work-life balance.
For companies, the key benefits of Working from home is that they can save on costs like utilities, rent and office goods. At the similar time, turnover rate is supposed to be lower as employees have less reasons to look for a new opportunity when they WFH.
As per an article by the Financial Review, “WFH has been said to not be working for firm employers.”
As per a study involved in 10,000 employees at an eminent company, “Productivity has declined by 20% regardless of employees working for longer hours.” The study also figured out that as working remotely requires more co-ordination, staff end up spending more time attending meetings and answering emails and not in the outputs.
Employers are now in the dilemma – whether they should be continuing WFH or not. Because, if they continue the WFH policy, they will deal with profit-loss situation, but if they enable ‘back to the office’ mandatory, they will face notable increase in turnover rate.
Outsourcing is the answer
Outsourcing seems to be the only credible option for firm owners. As outsourcing providers are only paid when the output is given from their side.
Because outsourcing providers are only paid when the work is completed (output), rather than by the hour, it helps businesses stay productive while keeping expenses down, especially in the work-from-home approach. Not to mention, taking UK’s current labour shortage crunch in accounting, outsourcing seems to be a viable option for hiring and retaining employees.
Outsourcing offers numerous advantages to firm owners. The process enables employers to build a team of professionals without having the extra space and machines. With the help of outsourcing, businesses can focus even more on achieving company’s success.
Benefits of Outsourcing for business
Save Cost and Scale your Biz
The cost for employment come between 20-50% (on an average) or more of a biz’s total sales, varies by industry. Now depending on the outsourcing service provider, the process can drastically lessen these costs by upto 70%. The decline in cost can be a mix of:
Overhead cost savings as the outsourcing provider will look out for the IT, infrastructure and services needed for the outsourcing team.
These savings imply that businesses can set aside funds to invest back into business growth.
Gain in business efficiency
How much value-addition work can be done by your team if the time-taking and recurring tasks were not there for them to perform? How typical is the statement ” If I didn’t have to put my time and energy into this, I would get plenty of time to do that”. Here is when outsourcing comes to the rescue. As you can delegate those tasks to the outsourcing team that will provide support to your local team by working on those repetitive tasks.
What next?
Thinking for Outsourcing and unsure where to start?
At Sapphire, we have a team of experts. Outsourcing is one of the early adopters of cloud computing. Apart from using all cloud-based accounting systems such as SAGE, IRIS, QuickBooks etc, Sapphire has developed its own enterprise software platform to manage workflow & increase productivity & customer satisfaction. Sapphire is pioneer in adopting new technologies to help you achieve digital transformation in your accounting department.
Get in touch with us for Outsourcing services for your business. For more such tips, stay tuned!
