Strategic Outsourcing: The Cornerstone of Business Elevation Across All Industries for 2024
02/01/2024
What’s your plan for 2024? How do you think you can keep up with the ever-shifting terrain of business? Technological breakthroughs? Consumer behaviour? Global market dynamics?
Well, if you haven’t decided yet, let us get you on with a not-so-secret intel—strategic outsourcing.
In 2022, Grand View Research reported that the market size for global outsourcing was valued at $261.9 billion. Also, there’s a survey conducted by Deloitte in the same year confirming that around 76% of executives outsource some of their important business operations, including IT.
But, somehow, even with these impressive numbers, many companies are still reluctant to outsource, which is a real bummer.
Strategic outsourcing can shape how your organisation can operate efficiently—from immense staffing flexibility to reducing unnecessary costs. Albeit not all strategic outsourcing is a success story, it is still worth considering as you and your business journey into the future.
Let’s explore some of the outsourcing trends in 2024 and all the ways your outsourcing partner can help you next year.
Outsourcing Trends That Will Carry Out for 2024
Though trends are constantly moving, some things stay static. However, in 2023, we were faced with plenty of outsourcing trends that have completely thrown off everything we know about our jobs or recruiting. While some are short-lived, others will hold over in the upcoming year and probably beyond.
How can you leverage these trends and use them to your advantage?
Let’s take a look at some of the trends that are poised to make a huge impact on the outsourcing landscape:
Hybrid Work Model
Humans and AI working together, side by side, is the popular concept of a hybrid workforce that’s gaining momentum these days. This working model combines the strengths of both human workers and artificial intelligence: innovativeness and emotional intelligence with speed and accuracy.
Niche Specialisation
Strategic outsourcing is diversifying what it can offer companies for recruitment, catering to particular business needs and niche industries. This is becoming a go-to move for ensuring customised solutions for firms looking to partner with collaborators who have profound expertise in specific domains.
Sustainable Outsourcing
Sustainability has become a weighing factor in outsourcing decisions. Many companies are focusing on selecting partners with green initiatives who can meet the standards of their eco-friendly practises and social responsibility goals.
Thriving with Strategic Outsourcing Amidst Changing Trends Heading to 2024
No matter the size or industry of your business, you will face a manifold of new challenges as the new year unfolds. And these complex encounters will require strategic talent acquisition to take on.
Here’s how strategic outsourcing can be your answer amidst the shifting trends.
Rising with Emerging Technology
Not keeping up with emerging technologies and digitisation can be or is a death sentence for any company. In fact, around 46% of business leaders foresee the heavy importance of adapting advancements like AIs into their operations.
Strategic outsourcing is designed to patch the gaping hole in your organisation's unsophisticated technology, or lack thereof. It can offer high-tech solutions such as machine learning and data analytics to streamline processes and drive growth.
Humanised Leadership
Despite the rise of technology and its palpable impact on doing business, the need for human touch remains intact. Relatability, warmth, and empathy—building a human connection that inspires and motivates a culture of inclusivity and diversity in a company.
Through strategic outsourcing, you can encourage a working environment fostered by these values. Your workforce remains productive, engaged, and committed to the company’s goals and growth. As such, not only will you instill transparent communication between leaders and workers, but you will also infuse the trust and loyalty of employees to the top management.
Productivity and Growth
Productivity and growth become hypercritical, as work models, such as remote and hybrid, continue to transform. There’s even a greater need for business growth and efficiency as more and more organisations embrace dynamic work handling.
Fortunately, strategic outsourcing is created to facilitate both productivity and growth. With an outsourcing service provider, you have more time to focus on core tasks while non-core processes are handled by expert hands.
Setting Success for the Future with Strategic Outsourcing
Don’t let the challenges of 2024 break your spirit! An effective staffing solution without compromising cost or flexibility can still be realized through strategic outsourcing.
By hiring specific tasks externally, you can access professional skills, leverage technology, and rise along with it while making sure the human connection is undiminished.
If you would like to carry out 2024 with all these strategic outsourcing benefits, contact us, and we’ll be happy to take your business to the next level.