Services Your Small Business Can Outsource To Save On Business Costs

Although there are various services a small business can outsource, it is just as important to know and understand which specific services will yield the best ROI. This knowledge will help you alleviate potential risk, and choosing the right agency will help you effectively build a scalable organization. Here are a few services you could consider outsourcing and most likely need expert support when taking on additional projects.

Human Resource Management

Human resources management is a vast department encompassing many tasks in a company related to hiring staff and managing the team. The most common way to outsource these services is using a recruiting agency, bringing you qualified prospects from their existing and growing database. However, there are several options one could outsource in HR, like payroll, training, benefits administration, and attendance issues amongst the team. This function of the company is responsible for the general employee productivity and satisfaction; ultimately, human resource is the glue to your team.

Marketing and Creative Services

As a small business, you may have a reasonably experienced marketing specialist, or as an entrepreneur, you may handle marketing tasks yourself. Even so, some creative services may be out of your depth, and maybe you need a specialized video or graphic designer. Instead of feeling overwhelmed with the world of creativity, picking the best company for the job will let you focus on growing your business. An outsourced professional marketing firm can help you grow your business exponentially.

Allowing you to focus on internal business functions, they can take the content creation, social media, and designing off your hands. These creative professionals could even help you with innovative strategies setting you apart from the competition. Like marketing, you can outsource sales tasks to a marketing and sales firm with professional individuals who will help bring more business. Your company may not be in the position or have personnel with expertise in making sales calls or the experience to funnel processes designed for closing deals.

Legal Services

Whether you're a licensed attorney or not, chances are you will likely need at a given point in your business endeavors. Depending on your business scalability, you may grow quite significantly in employee size before you even consider having in-house counsel. When it comes to handling your legal business affairs, it is essential to hire a trusted attorney with decent knowledge about your audience to make informed purchasing decisions, review contracts, and proactively minimize your business risks.

You may not need permanent legal assistance, which may be wiser to seek specialized services upon immediate request or contract regular council from time to time with an outside firm. Sites like Avvo help you search for available attorneys and offer discounted services for using their platform.

Payroll

One of the first and most essential services that small business owners need to consider when starting is payroll. It may seem counter-intuitive to use the service when you or a few employees are part of your business payroll. On the contrary, it is critical to pay yourself and your employees as part of effective business operations. It can be far more expensive to counteract late employee payments, incorrect payments, or even paying employment taxes than paying a professional payroll service provider.

A great misconception about well-renowned payroll service providers like Paychex and ADP is that they only cater to large companies. The truth is, payroll companies who cater to large organizations offer packages and prices that suit small businesses like yours too. Working with industry leaders such as Paychex and ADP gives you the peace of mind that they are there to ensure your finances are secure and improve their services to make your life easier. You're guaranteed any errors on your employment taxes or covered by payroll companies of this caliber.

Information Technology

In 2014, a study by Deloitte revealed that 53% of companies outsourced their information technology functions; over the years, another 26% outsourced their IT functions. With the potential of saving up to 40% of costs, using outside professionals and cloud software allows your company more agility and flexibility to grow. IT services have become one of the largest and fast-growing Industries around the world, reaching as high as $85.6 billion in the global market. Small and growing companies should invest in outsourcing IT issues or initiatives to professional IT firms.

While there are also other services that your business can take advantage of, your outsourcing service needs will depend on the type of business and the industry you are functioning within, the many benefits of outsourcing will help prompt business growth and have you investing your focus back into your business.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes