What motivates small or medium scale firm to recruit a full-time employee, thousands of miles away from their current office?
Declining profit margins and rising costs of operations have made offshoring appealing both to large and small-scale businesses. The principal reason to outsource staff should relate to an increase in the efficiency, a reduction in wages all the while maintaining the same quality of work. Another reason would be to maintain a flexibility in the resource allocation to achieve the optimal value in offshoring.
Large businesses have been exploiting the service to achieve their competing advantage when contesting on a global platform. However, the SME sector have faced several challenges when it comes to outsourcing, be it one staff, a team or a process.
A major drawback is identifying the need for offshoring or outsourcing itself and then allocating the resources efficiently. Managing employees oversees however has become less simple and trouble-free, especially when the offshoring partner company is based in both parts of the world.
As technology has greatly helped in promoting and facilitating remote staffing, an offshore team located in Sri Lanka is no different to one in another city or county. A data security plan should be developed, covering the transfer of data, levels of access and network security measures to ensure the reliability of the information that is being communicated should be secured and for a long term lasting.
With economic development in Asia, especially in a country like Sri Lanka, there is greater access to global talent and comes at a very affordable price even be it for a startup. Leading businesses grant more freedom to employees, there is less emphasis on where the job is getting done.
Firms like Exel Solutions, do a combination of staffing ranging from various disciplines and are focused in
helping exclusively to the UK markets.