Strategic Talent Acquisition: Leveraging Interim Management Expertise in Singapore

20/11/2023

When inflation shoots up, everything in business becomes more expensive. Therefore, business owners and entrepreneurs are more motivated to cut costs, but not at the expense of great results.

The prevalent point of view? By staffing workers at fixed rates, change can be delivered with greater control over developing new solutions and reducing expenses.  

However, from this angle, business minds are forgetting two things: income generated and work efficiency. 

By partnering with interim management experts, where expertise is salient, you can achieve greater productivity and add more value to your business.  You avail yourself of specialised knowledge without hiring many people, thus avoiding the ongoing overhead. 

There is the power of outsourced interim management experts. It is a solid way to save cash without forgoing quality results. You get to have a team of experts without setting up a specialised department internally. 

Are you sold?

Read on and learn more about the collocation of elevating talent acquisition by outsourcing interim management experts.

Singapore a Consulting Expert Hub? 

The place where the East meets the West — Singapore is the business hub for companies wanting to take their game globally. It holds a special place in the eyes of the world.

From policies to its business-friendly environment, Singapore makes a sell-out in promoting international trade and globalisation for businesses.

Consulting tops as one of the most desired careers in Singapore. Surefire, the country brings elite business professionals on a regular basis.

Elevating Talent Acquisition: A Fresh Outlook

Today, most companies choose to outsource their business functions, such as IT and human resources.

These are some of the areas where you don’t want to cut costs just to save a few bills.

By working with the right experts, you can meet your business needs. Regardless of the size of your company, without the right IT department or human resources, you’re bound to struggle with a few roadblocks along the way.

• Professional Development. The world is constantly evolving; therefore, you need a team to keep up with these moving industry trends and expectations. The best way to keep pace is by offering opportunities for professional development. Then again, these training and programmes cost money and time—you might not be able to suffice as a startup. However, when working with a third-party company, you’re provided with the skills needed to get the job done.

• Staffing Costs. If you establish an internal department and hire skilled people, it could be a very costly venture. And we’re not just talking about money here; you’re investing time as well, sifting through candidates and finding the right person with the skills to match. Afterwards, you are pushed to stay competitive due to increasing salaries just to keep your skilled professionals. But even your efforts at competitive pay may not be enough to still the turnover rate. By the numbers, the average length of employment is reduced to just under a year. Recruitment will still be an issue. Fortunately, outsourcing will keep the cost low and avoid the trouble of retaining people and finding new ones to fill in positions.

• Expertise Gap. While having an in-house team is pretty handy, you’ll also find yourself troubled when someone goes away, leaving a skill gap in their wake. If you are a burgeoning business with few resources in your pocket, the expertise gap becomes a risk. It would be impossible to keep up with the demands without the right people. Outsourcing to the right people offers you the knowledgeable expertise you badly need. You can recruit people with more profound skills, not found in your organisation, to match all your increasing demands. With more time and resources, you get more focus, streamline your operations and eventually, grow your business.

Outsourced Interim Management Experts

Who needs to outsource interim management experts?

Every business vying for success actually, but small businesses with little resources and knowledge get the biggest bang for their buck.

Here are some good insights on why outsourcing interim management experts is good for your business.

• New Perspective

Sometimes, the only way to drive your business forward is to entertain outside perspectives—things that you would’ve never thought of yourself.

Outsourcing interim management experts helps you develop ideas that you might’ve overlooked before. Or it may not be an issue of disregard at all, but the inability to have the right resources, such as time and skill, to greenlight these areas of your business internally.

• Competitive Edge

No matter the industry, you’re likely diving into a competitive market. With intense competition, you’re pressured to stand out and outshine your competitors.

By virtue of outsourcing interim management experts, you can do just that. You can gain access to skills, knowledge and expertise that are still unique to the business, resulting in changes and specialisations that are all beneficial to your daily business activities.

Now that you have more time on your hands, you can concentrate on the core business functions that are directly linked to your business growth. These capabilities give you a competitive edge and promise sustainable success.

• Effective Staff Cost

Not only is creating your own in-house team expensive, but it’s also very time-consuming.

Recruiting the right people with the right skills needs money and attention. After you find the best fit for the job, you need to worry about the rising salaries in order to keep your talents away from competitors.

As mentioned, inflation makes everything extra costly, and the escalating cost of living is its collateral damage. In view of that, recruitment will be an ongoing issue.

But by outsourcing interim management experts, you can detour away from the cost. You’ll be paying a fixed sum for your consulting needs.

Now, it may be higher than the salary cost, but you get to remove retention and recruitment expenses from your liability spreadsheet.

Remember, the way you establish your services can secure availability and service levels.

• Bridge Resource Gap

In the past three years, amidst the COVID lockdown, the availability of an experienced workforce has taken a nosedive. Out of necessity, people are removing themselves out there and into a newer trend of working from home—hence the shortage of skills.

In-house teams are paying for it, though, with a gaping expertise gap. This happens when someone leaves with no one to replace them or if you decide to shift your focus elsewhere with no available skills to supplement your venture.

But you need not worry; your existing team can still operate through outsourcing. Outsourcing to a third party gives you a team of experts without breaking the bank. They can fully deliver while keeping up with the moving parts, such as industry trends and changes in technology.

Moreover, your outsourced expert resource can pass on their knowledge to your existing team. This professional development is possible, which in turn helps your business gain access to skills that are not available in your company. 

• Specialised Knowledge

An outsourced interim management expert service gives you plenty of time and resources to spend.

Think about it: If you have experience prior to working on a project, you know how to anticipate risks before they even happen. This means you have the means to avoid them.

Outsourcing projects that require specialisations to people who are equipped to handle them makes it easy to mitigate risks. This all results in efficiency and growth.

Conclusion

Do you know the first thing businesses think about when they outsource? Cut the operational costs of repetitive daily activities.

Well, outsourcing interim management experts will do more than that. You can expand your business capacity faster, make room for innovation and better service and access specialised skills.

So, no, elevating your talent acquisition through outsourcing is not just about cost-effectiveness. You are adding value and productivity to your business arsenal.

In short, we recommend that you partner with the right talent acquisition firm and get to your bottom lines: innovation, growth and ultimately becoming an industry leader.