Top 10 Advantages of Offshoring - Full Scale

Top Offshoring Advantages Today · 1. Lowers Salary Costs · 2. Higher Savings on Operational Costs · 3. Access to Qualified IT talent · 4. Time Zone ... 2022-01-19 Offshore Top10AdvantagesofOffshoring Whenitcomestohiringemployees,therearemanyadvantagesofoffshoring.Whatarethey?Readontofindoutthetop10benefitsandlearnwhyyoushoulduseoffshoringforyourbusiness. Formanydecades,offshoringhasbeenaninnovativesolutionformanybusinesses.Initially,itsprimaryfocuswasonproductionassemblytasks.  Today,offshoringhasevolvedtoemploycustomerservice,sales,andevenITsolutions.Small-andmedium-sizedcompaniesenjoyoffshoringadvantages,includingcuttingcosts,solvinghiringproblems,andgeneratingoutput.Butwhatareitsotherbenefits?Let’sfindout. TopOffshoringAdvantagesToday Whencompaniesdooffshoreoutsourcing,theyreapmanybenefitsfromit.Herearethetop10advantages: 1.LowersSalaryCosts Onaverage,aUSdeveloperearnsagrosssalaryof$108,991.Incomparison,asoftwaredeveloperinthePhilippineswillmake$16,789.89.Evidently,thereisasignificantdifferencebetweencompensationsforITtalentintheUScomparedtooffshorelocations. OffshoreteamsareprevalentinITsoftwaredevelopment.Aslaborcostsvaryimmenselybusinessesbenefitfromsalarycostssavingsandallocatemorefundstothecompany.HiringoffshoremeansgettingthesamequalityITsoftwaredeveloperforalowercost. 2.HigherSavingsonOperationalCosts MaintaininganofficeintheU.S.meanshighercostsinrealestate.Besidesthat,youalsohavetothinkaboutbusinesstaxes,utilities,andlaborcosts.Onewouldneedtoputupaconsiderableamounttoinvestinanoffice.  Whenyouhireoffshore,youreapthebenefitsoflowerratesincludingrealestate.Moreover,developingcountrieshavelowerratesinSocialSecuritybenefits,Medicare,taxes,andinsurancecomparedtotheU.S. Thereisalotofopportunityforgrowthwhenyouchoosetobuildanoffshoreteam.Besidesitsimpactonfinances,youcanbemoreproductivebyhiringaqualifiedworkforce.  3.AccesstoQualifiedITtalent Oneofthemostsignificantlimitingfactorsinbusinessisfindinghighly-qualifiedemployees.Additionally,withtheongoingITtalentshortageintheU.S.,youhavetofindsolutionstothatbigproblem. IndiaandthePhilippinesareonlytwoexamplesofcountrieswhereyoucanhireyourITstaff.TheITindustryisflourishinginthesecountriesduetoactivegovernmentsupportandITprograms.  Also,schoolsareproducingmoregraduatesperyear.Youaresuretofindtherightcandidatetohire.Thesetwocountriesareincludedinthetopoffshoringdestinations,especiallyintechdevelopment. Youcanalsooptforanoffshoringprovider,likeFullScale.Thecompanyisbuilttopre-screencandidatesandconnectthemwithclients.Weprovideyouwithaccesstoaqualifiedtalentpoolwithoutthehassleofrecruitingoneyourself. 4.TimeZoneDifferences Managingteamsbothonshoreandoffshorecreateshigherproductivity.Offshoreteamscancovertimezonesnotcoveredbyyouronshoreteam.Thecontinuousworkflowbetweenprojectswillallowyoutodeliverfasterandincreaseclientsatisfaction. Createaproperhandoverprocessforwhattodonext.Thatway,youronshoreandoffshoreteamscanworksmoothly.Now,youaretechnicallyoperating24/7.Justdon’tforgettoencouragework-lifebalancepracticesforyourteams. 5.TaxBenefitsandFinancialIncentives Therearecountries,likethePhilippines,thatoffertaxholidaysandfinancialincentivesdirectedforforeigninvestments.Thisencouragesmoreforeigncompaniestoinvestintheworkforce,provideopportunities,andstimulategrowthforbusinesses. Creatingmorejobsattheoffshorelocationandreturningearningstotheinvestingcountryalsohelpsbotheconomiesthrive.Youmaximizeprofitwhenyouroffshorecompanyearnsrevenuepairedwiththeseoffshorebenefits. 6.BetterControlOverOperations Therearetwooptionsifyouwanttohireglobally.Youcaneitheroutsourcetalentorhireoffshore.Withoffshoring,youdon’tneedtohandoverbusinessoperations.Incontrast,businessoperationsarelimitedbyoutsourcing.Youmustknowthedifferencebetweenboth,especiallyifyou’replanningtobuildaglobalteam. Partneringwithanoffshorecompanyallowsyoulibertyandcontroloveryourteam.Youcanopttotrainyourstafforprovideinstructionstoyouroffshoringpartner.Ultimately,youhavecompletecontroloverthetasks,whiletheoffshorepartnerdeliversyourrequirements. 7.SustainableScalability Growingyourbusinessrequiresfocusandstrategicplanning,nottomentionchallenging.Youneedtobesmartaboutspendingyourmoney,especiallywhenhiringemployees. Let’ssayyoursoftwareteamisinthemiddleofasprint,oneleft.Thisaffectsprojecttimelinessoyouhavetomakeadjustmentsandreplacethatemployeequickly.Yourteamshouldallocatetheworkbetweenthemselveswhileyou’relookingforareplacement.Notonlythat,yourrecruitmentteamneedstofindsomeone,train,anddeploy. Yousee,ifyouarelookingandhiringcandidatesyourself,youspendalotofmoneymaintainingtherecruitmentteam.Partneringupwithanoffshoringcompanywillhelpsolvethisscenarioquickly.  Offshoringcompanieshaveadatabaseofpre-qualifiedcandidatesfortheirclients.Whenoneemployeeleaves,theyalreadyhaveabackupcandidatewiththerightskillset.ThissavesyouatonofmoneyandeffortthanmaintainingyourHRandrecruitmentteam.  Byworkingwithoffshoringpartners,youarefreetoshiftyourfocusonbusinessinitiatives.Ineffect,scalingyourbusinessbecomesmoremanageable. 8.NoRetraining Uninterruptedworkhelpsteamsbemoreefficientandproductive.Hiringoffshore,youchoosetheteamthatissolelyworkingforyou.Itissimilartoanin-houseteam;theonlydifferenceisthey’renotinthesamelocation. Whenyouassignnewprojectstoyouroffshoreteam,theyalreadyknowhowtofulfillthetask.Onceyouhavetrainedyouroffshorestaff,youwillonlyneedtonurtureandhonetheirskills.Continuouslearninghelpskeepthemupdatedwithtrendsandnewtechnologiestoserveyourclientsbetter. 9.OpeningUpOpportunitiesinNewLocations Havinganoffshorecompanycanhelpyouexplorenewopportunitiesinthatcountry.Yourlaborforcecanhelpyoufindanewmarketorperspective.Culturealsoinfluenceshowyoucanbetterconnectwiththisnewmarket. Offshoreteamscanbetterunderstandpeopleinthelocationandgiveyouaninsightintothebuyerpersona.Withtheirhelpandinput,youcanidentifywheretomakeinvestmentsforyournextbusinessventure. 10.EnglishLanguageProficiency Communicationisanessentialpartofcollaboratingwithyouroffshoreteambetter.Withthatinmind,youshouldchoosethebestcountryknowntohavehighEnglishlanguageproficiency. ThePhilippinesranks18thoutof112countriesgloballyregardinglanguageproficiency.WeknowthatnearlyhalfoftheoffshoringmarketcomesfromEnglish-speakingcountries.Wewantourteamtocommunicatewiththeirclientswithease.Thishighlanguageproficiencyrateisoneofthereasonswhywechoosetohireourdevelopershere.  HowtoChoosetheRightOffshoringLocation Therearealotofoffshorelocationsthatyoucanconsider.Buthowcanyouchoosetherightone?Herearesomequestionsthatyouneedtoanswerbeforedecidingwheretohireoffshore: HowmanydevelopersdoIneedtocompletemyprojectinaspecifiedtimeline?Willmyoffshoreteamunderstandtherequirementsandprioritiesdefinedduringonboarding?Howmuchwillitcostme?Istherehighavailabilityofqualifiedprogrammersinthelocation?HowmuchtimewillIspendtrainingmyoffshoreteam? Knowingtheanswerstothesesimplequestionswillhelpyoufilteroutwhichlocationsarefavorabletoyou.Onewaytomakeyouroffshoringjourneymoreeffortlessistofindareliableoffshorecompany.  OffshorewithFullScale Weknowthatfindingandhiringtherightdevelopersischallenging.That’swhywebuiltourcompanytohelpfindtherightsolutionstotheU.S.ITtalentshortage.Wealreadydidabigchunkoftheworkforyou.  AtFullScale,weareactivelylookingfornewadditionstoourteamwhoarequalifiedtoserveourclients.Candidatesgothrougharigoroushiringprocessandassessmenttoensurethattheyhavetherightskillsforthejob.Allyouneedtodoischoosefromourpoolofdevelopersandsetaninterview.It’sthatsimple. Workwithusandshiftyourfocusonyourbusinessstrategiestohelpyougrow.Setanappointmentheretoprovideyouwithoptionsonhowwecanhelpyoureachyourbigbusinessgoals. 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