Maximizing profit is the aim of every business. Organizations search for more and more ways to decrease costs, improve margins, while addressing ongoing demands as the business grows. Demand for new employees as you scale is inevitable, but the challenges attached can be restricting overall profitability.
First, we must ask:Â Why are employee costs so high?
Training And Rehiring: Employee Turnover
Training new employees is costly, where businesses big and small have to pay for the additional resources involved with every hire. Many positions like customer support and data entry yield high rates of turnover. Constantly onboarding and rehiring employees impact business expenses significantly.
Employee Resources
Every time a company adds to their workforce, they must account for covering costs of their equipment, internet usage, IT monitoring, facility maintenance and more.
Employee Benefits
In countries like the United States, Canada and the United Kingdom, businesses are required by law to provide mandatory benefits such as Social Security contributions, insurance, and health benefits to their employees. However good-intentioned, these can incur a significant amount of costs and may impede potential for businesses to scale, or even survive. In some cases, benefits account for about 40% of total compensation costs.
Save $$$ Through Outsourcing
Top companies in the US, Canada, and the UK already utilize outsourcing for many parts of their operations, paving the way for a more efficient workforce, all while saving on overhead payroll costs. Nonetheless, outsourcing is not just for corporations, small and medium enterprises also increase profitability by outsourcing instead of taking on the task of running their own contact centers or losing money on frequent turnover.
Big companies like your favorite brands and products, have something in common with your small neighborhood pizza joint; they’re outsourcing calls and data entry positions.
Businesses, especially those with high call volume have saved over $200,000 dollars in annual payroll costs when outsourcing. When choosing an outsourcing company, look for one that offers you easy monthly billing for experienced agents and includes training, supervisors, management, and quality assurance performance auditing to increase profit margins significantly.
Don’t let the costly pressures of finding and maintaining a high-standard workforce hold you back. Outsource today!
Outsourcing With Pac Biz
We provide businesses worldwide with quality agents, available 24/7, guaranteed to help your business with growth. From ecommerce to transportation and more, Pac Biz is an American owned outsourcing company you can trust.
