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Did you know that the idea for outsourcing started in the late ‘80s and early ‘90s? In fact, people only started to really believe in outsourcing in 1989 — not too, too far away from today. Since then, outsourcing has been proven to be an effective business strategy over the decades across different business industries. To put it simply, outsourcing is a business strategy wherein a company hires a provider to carry out job roles, tasks, or responsibilities.
Below, our experts have listed a few keys to success to remember when you consider Customer Service Outsourcing for Property Management. Read on to learn more.
Modern outsourcing is a cost-effective method to reduce human resource expenses, boost productivity, and expand capabilities without compromising quality. It supplements and supports the existing workforce, allowing key staff to focus on delivering company goals.
Outsourcing also frees up time, resources, and capital for business growth, making it a game-changer for businesses in an ever-changing market.
Here are the most commonly outsourced services:
We’re living in a digital era, so understandably, IT services are typically the most in-demand outsourced services. Software development in Southeast Asian nations (like India) is a common practice where
United States-based workers earn $4,949 a month on average, while those in the Philippines earn 18,423 Philippine pesos a month (329.28 USD). Offshore operations have led to significant cost reduction and high-quality output, with companies like Microsoft, Dell, and IBM relying on this staffing method.
Pre-employment screening ensures accurate CV information and employment history checks, helping reduce the risk of biased hiring decisions. Many consider this task to be worth the outsourcing investment, as costly recruiting, hiring, and employee training processes can be avoided by thoroughly researching potential candidates.
Outsourcing customer service positions to other countries reduces operating expenses and allows businesses to offer 24-hour service — boosting tenant satisfaction and enhancing the organization’s reputation. This is a helpful service in the property management industry to establish and maintain customer relationships and satisfaction.
Business processes (such as telemarketing, customer service, digital marketing, and accounting, for example), are just some of the roles usually outsourced. Outsourcing BPO allows companies to significantly cut costs without experiencing a significant loss.
Many web- and paper-based publications opt to outsource content creation. When you outsource marketing efforts, you don’t need to worry about essentially building an agency from scratch. With your outsourced company handling it, they already have access to experts in blog posts, SEO strategy, social media, marketing, email campaigns, and more.
Small start-up business owners often struggle to afford in-person assistance for daily tasks that can be addressed by using virtual assistants who offer online services. Outsourcing these tasks can be particularly beneficial during the early days of a company’s launch, as it allows owners to focus on growing the company instead of handling mundane tasks like emailing and filing paperwork.
Graphic design work done by outsourced employees can include projects like logo upgrades and website design elements.
Outsourcing can make small businesses more efficient, ultimately boosting profits when used wisely. However, it’s important to always carefully consider what outsourcing would look like for your business. It’s not always a suitable solution for every situation.
The advantages property management staff can expect from outsourcing include significant cost decreases, resource use reductions, and a higher degree of efficiency.
Outsourcing business support reduces the workspace and equipment needed in the office, allowing for faster growth of the team and the business. Outsourcing services often have lower labor costs due to fewer overhead costs and employees, and can eventually lead to incredible company cost savings — especially when companies outsource to the Philippines.
Beyond this, hiring employees can be risky: Companies spend almost $100 billion a year on training new hires (who can take six months or more to break even on the company’s hiring investment).
Plus, staffing a full in-person office can include office equipment, furniture, and space for permanent staff. Other costs like software licensing fees, health insurance, and business trips can also add up to the overall overhead. Outsourcing can help save time and money by reducing these expenses.
It’s best to find companies that share ethical standards, better enabling them to foster business growth and team satisfaction.
Here are a few points to review while searching for the top possible outsourcing partner for your needs:
To find a successful outsourcing partner, you must establish your ethical priorities and research their business operations to make sure that they align with your company’s values. Partnering with ISO-certified vendors like STAFFVIRTUAL enhances risk management, cyber-resilience, and operational excellence by promoting a holistic approach to information, policies, and technology.
Ideally, your company of choice should balance profit and purpose, establishing trust with clients and customers through transparency and accountability.
Ensuring a liveable wage for your outsourcing partner is crucial for their team members to meet their basic needs, leading to increased satisfaction and motivation. Fair labor practices are also essential for maintaining team loyalty.
Aside from having the same ethical values, it is equally important to assess their corporate culture, including their company values and goals. Have a chat with their employees, visit their office, and learn about their mission and vision statements. This will help you understand their operations and ultimately determine if they align with yours. This will also prevent harm, either actual or perceived, to the business and its employees.
In this modern day and age, being socially responsible as a business is a must — so partnering with a company that values social responsibility and ethical practices is crucial. Consider looking for companies that engage in CSR, or corporate social responsibility. You can also check if the company supports community outreach and philanthropic programs, as these are common projects of socially responsible companies.
So, you’ve chosen the right outsourcing partner, and you’re ready to get started. Before you launch, consider what your budget is and what value you’re currently getting from your provider of choice. Anticipating the costs of outsourcing can ensure a smooth start-to-finish process.
Here are some examples of the usual costs of outsourcing to consider as you work through this step:
Outsourcing offers numerous benefits, including maximizing your budget. Below are three tips to help you get the most out of your outsourcing budget:
Transitioning your customer service requires a full analysis of services and meticulous mapping of the outsourcing infrastructure. Transition is the process of moving your processes from your company to your outsourcing provider. Pre-planning sessions with them are advised to establish a plan and manage perceptions to ensure service acceptance and delivery.
To ensure a smooth transition to your outsourcing provider, there are certain steps you can follow.
Outsourcing customer service for Property Management is a powerful business strategy. It enables you to balance client satisfaction and protecting your properties. You just need to know which services suit you or which job roles you need to outsource to help your business grow. Research carefully on the advantages and disadvantages of outsourcing.
Once you understand the whole idea of outsourcing, remember to choose the right outsourcing partner to be able to succeed with your business goals. And of course, if you’re with the right vendor, you can carry on the transition process seamlessly.
As we mentioned in this blog, cost savings are one of the top advantages of outsourcing. With STAFFVIRTUAL, you can outsource your customer service for almost half the price when you outsource in the US. Our customer service is one of the most sought-after business solutions that we offer. We value both our clients and employees in order to deliver the highest quality of outsourcing services.
Contact us today, and partner with us so we can help you with your outsourcing needs.
Sources:
10 Small Business Functions That Can Be Easily Outsourced | U.S. Small Business Administration
How to Select the Right Outsourcing Partner | SHRM
Transition to Outsourcing: How To Minimize Risk | SHRM
Average Salary in the U.S. in 2024 | USA Today
Philippines: median monthly wage rate of time-rated full-time workers | Statista