Deciding between hiring in-house talent or outsourcing the job can be a tough call to make, and both options have their benefits and drawbacks. Here are some things to consider when choosing between the two recruitment options.
Why Independent Contractors Make Sense
It's easy to understand the draw that outsourcing certain tasks has for business owners.
First of all, while you should work closely with an independent contractor, there are no employee-related expenses; no training costs, health care, vacation time, or sick leave.
Additionally, in many cases, you will be working with and benefiting from the experience and insight of a team of specialists, rather than a single worker.
Outsourcing may also spare you business expenses. For example, perhaps you are interested in making some promotional and informational videos for your website. You could invest in expensive equipment, along with hiring someone with the proper know-how, or you could outsource the job to a video production company that already has the knowledge, experience, and the equipment.
Finally, outsourcing certain tasks can free you and your workers up to focus on the core areas of your business without pouring time and effort into peripheral tasks.
Making the Call
While outsourcing can be a good thing, it also has its drawbacks. Your project may not receive the focus it deserves, you lose a little bit of control over the timeframe, and you have less control over the quality of the finished product. Before deciding whether to outsource a task or operation, consider these questions.
Is it a Business-Critical Function?
Generally, anything that relates directly to the operation of your business should be handled in-house. For example, for some businesses, their social media marketing strategy is an essential part of their competitive advantage. In this case, a social media manager should likely be an in-house hire who shares your goals and vision for marketing campaigns.
However, duties like payroll, bookkeeping, and administrative tasks, though they don't relate directly to the vision of your business, tend to take a significant toll on overall productivity. Outsourcing these tasks, rather than hiring in-house, makes sense for most businesses.
What Is Your Budget?
There may be a significant cost difference between a trained employee and an independent contractor. Oftentimes, if you're shooting a single promotional video or you want to create an app, outsourcing the job may make the most sense because it will spare your business the expense of investing in expensive equipment and providing highly specialized training. On the other hand, independent contractors may charge a relatively high daily rate, making outsourcing less than ideal for long-term projects.
What Is Your Time Frame?
If you have a skills gap that needs to be filled quickly, then outsourcing makes sense. Rather than taking the time to go through the hiring and training process, you can hire an experienced professional who can hit the ground running.
In the end, whether or not you choose to outsource hinges on your timeframe for project completion, budgetary considerations, and how it will impact the efficiency and goals of your business. Using these as guidelines will help you choose the recruitment option that is right for your business.
If your business were a car, your key employees would be the engine. These are your superstars, the heavy hitters who apply their talents and skill sets in their positions and generate massive results every time.
As most managers already know, however, the reason why key employees are so in-demand is precisely because they don't grow on trees. If you're hunting for your next key employee, here is some of our best advice on where to look.
1. Professional Recruiters
The thing about key employees is that they're generally either employed or snatched up very quickly during the brief times they're unemployed and looking for a position.
So who better to help you find your next key employee than someone whose business it is to match companies with excellent clients day in and day out?
Professional recruiters have the relationships, experience, and the avenues needed to find candidates and find them quickly.
Although the saying, "It's not what you know but who you know" gets thrown around at job-seekers a lot, the same logic also applies to employers who are searching for talent.
You may not be immediately aware of anyone who could fill a key position, but perhaps a colleague you met at a seminar or a fellow professional association member might know someone. Or maybe instead of a professional peer it's a friend of yours who knows a recent college grad or a veteran who would be perfect for your position.
All of this is to say that your professional and personal network is a resource that just might surprise you.
Do you have any high-flying talent in your organization? Is there an employee who seems to have all the knowledge and personality traits needed to step in and do a fantastic job?
Sometimes your future key employee is standing right in front of you.
A lot of companies get so caught up in internal policy and creating a rigid system for potential advancement that they overlook the talent and potential for growth that's already there. An added bonus with this approach is that the candidate's familiarity with you and your company's culture are a potentially easy way to guarantee a relatively smooth transition.
The Internet has long been used for research, networking, and business. Now, with the help of sites like LinkedIn, Indeed, and even Facebook, finding talent is literally just a few clicks away.
As effective as these relatively mainstream sites can be, companies don't have to resign themselves to these relatively mainstream avenues.
Forums, Twitter, specialized job boards, and Internet hotspots like Reddit are all places where employers can find and discover talent with relative ease.
When you're searching for your next key employee, you don't want just anybody to take the wheel. You want the best person for the job. However finding that future key employee is often easier said than done. Online sources, tapping into your existing network for possible referrals, promoting internally, and hiring professional recruiters are all options that can make finding your next key employee easier. Try one of these options and see how it works for you.
When you shop local, you do far more than get the items that you want quickly and conveniently. Buying local stimulates the economy in our community, helps benefit local schools and charities — and it even helps the environment.
Look at some of the many reasons why it is important to shop and buy locally.
Buying Local Keeps Money in Our Community