The Great Resignation of 2021 is the trending shift of the US labor force to “work from home” or remote jobs as shown in the growing movement that has led people to quit their jobs and explore other opportunities. This outlook seems to pose greater challenges to businesses already having a hard time enticing their workers to go back to the office. Moreover, the US labor market is facing an uncertain situation as federal policies during the pandemic resulted in the most severe economic reduction in US history. It is just strange that although millions lost their jobs and are unemployed, companies are still having a hard time filling up vacant positions.
According to the US Labor Department, there are about 9.3 million job openings but not enough interested applicants. This means employers compete for the best employees by offering better and better incentives,work arrangements, and quality of life. Outsourcing back office support services seems to be the ultimate solution to overcome this ongoing problem. Many businesses in the US are now considering outsourcing their back-office functions overseas especially in the Philippines and other countries.
Outsourcing Back Office Services During the Great Resignation
When your employees quit their jobs, maintaining business operations might be troublesome especially if you’re having a hard time looking for new employees. That’s why you need to expand your options by outsourcing to a reliable back office services provider. The following are the top benefits of outsourcing back-office functions during the Great Resignation:
Improves Your Bottom Line
The most obvious advantage of outsourcing back-office services is simply improving the bottom line. With the effects of the Great Resignation in mind, it’s important for businesses to be practical and to think of effective ways to save money and time while still maintaining a good back-office operation. Outsourcing your back office support is a much more affordable solution. You can have access to top-notch professionals that can handle intensive back-office functions, along with low labor costs offshore, and end up with a much more affordable option that allows your business to thrive.
Access to Experts and Latest Technologies
When outsourcing your back office functions, professionals with the specialized skills you require will be handling your back-office activities. You will be guaranteed that your outsourcing partner will only assign experienced professionals to operate in your required capacities.With a team of experts in back-office functions, the outsourcing back-office company can integrate its state-of-the-art technologies and tools to perform your back office support services. That would mean operational efficiency and productivity for your organization’s back office.
Enhances Resource Management
Resource management is very essential for business owners especially during the Great Resignation as it determines the future of their companies. With back-office outsourcing, a business can manage its back-office functions and save a sufficient amount of capital that can be allocated easily on other core office activities. To run a business smoothly during the Great Resignation, outsourcing back office support services and allocating resources go hand in hand so that the flow of business remains intact while meeting customer and market demands.
Upgrades Business Scalability
Enhancing the scalability of your business is now possible with the help of the technologies and expertise of a back office outsourcing partner. For instance, startups have limited sources of technology and budget constraints, hence they are not able to scale up their business especially during the Great Resignation. Many external and internal factors also affect the scalability of the businesses. With the help of back-office outsourcing, startups can now focus on their core business functions and their back-office functions will be managed efficiently.
By outsourcing back office services, companies can improve their productivity by 100%as their employees are no longer expected to perform repetitive bulky back-office tasks. These tasks are outsourced to a reliable partner that will deliver the work on time and also help your business in boosting productivity and growth in the market especially during the Great Resignation. Moreover, research reports claim that businesses that outsource their back-office functions are known to perform well in the market compared to ones that tend to manage all activities with the in-house teams.
Back office support outsourcing has multiple benefits for businesses struggling during the Great Resignation.Doing this will not only fill the gap in employment but will also provide companies around 60% savings in labor cost while providing both employers and employees the much-needed work-life balance.
Finding the perfect back-office provider to help you survive the Great Resignation? We’re here to help. Markable Solutions provides the best back office support services perfect for businesses all around the world. Talk to us now!