Weighing the Pros and Cons
Now that you’ve determined your company’s specific needs, it’s time to examine the pros and cons of both outsourcing and in-house hiring. By taking a closer look at the benefits versus disadvantages, you’ll develop a deeper understanding of which approach will work best for your business.
As mentioned in part one
, hiring an outside service provider to manage a portion of your business is considered outsourcing.
- Flat hourly or project rates available – can result in significant savings
- No long term commitment required – great for seasonal or temporary work
- Access to highly specialized skills and equipment
- Time and effort are required to find a person/company that suit your needs and business style
- Costs per project can be prohibitive for smaller businesses
- Little to no control over the service provider’s time
- Little flexibility (responsibilities/scheduling)
In-house work, also known as insourcing, relies on building and utilizing your own team for specific operational functions or projects.
- Comprehensive control over the service provider’s time
- Easy accessibility to personnel and skills
- Role can be adapted to meet changing company needs
- Updates or improvements to the project in question can be communicated and implemented at a faster rate than outsourced work
- Can be expensive – in-house positions often require a wage or salary
- May not come with the same access to specialized equipment
- No agency support – results are dependent on an individual or department’s performance
Still unsure of the best strategy for your business? Many companies turn to a hybrid model, which includes bringing the most essential skills in-house and relying on outsourcing for specialized, limited or seasonal needs.
A great benefit to the hybrid model is that it can be modified as you grow. For example, you may begin by outsourcing your company’s SEO needs, only to implement a strategy the following month or year that relies on a greater web presence, and, in turn, an in-house expert.
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