Creating redundancies is not a bad thing. In business, it might have gotten some flack, but allowing for redundancies can help your company with risk mitigation and allow you to focus on revenue-generating activities. This blog will tackle why outsourcing works and how creating redundancies can benefit your business when you do it right.
What are Redundancies in Business?
Redundancies are present in a business when employees have more employees than they need to accomplish specific tasks or projects. These situations arise with the advancement of artificial intelligence and the professional development of team members. While redundancies can sometimes result in layoffs, having these structures in place can also lead to several advantages for your business.
How Can Creating Redundancies Benefit Your Business?
Why Outsourcing Promotes Stability and Resilience
Research conducted by Deloitte reports that 66% of businesses experienced significant disruption in the last 5 years because of their lack of redundancy. Disruptions are expensive; they can look like delayed projects, suboptimal project execution, or scrapped programs. All of these can happen when a team member leaves and no turnover process takes too long. Redundancies can easily mitigate this problem since several employees would know how to do the tasks of another team member. You not only save money but you also save time when you decided to allow this space in your virtual structure.
How Outsourcing Helps You Avoid Single Points of Failure
A single point of failure is an aspect of your business that can cause a significant loss if it crashes. If you have a lack of redundancies on your team you might find that even a single absent team member can disrupt work for an entire day. Let’s say your graphic artist or web developer falls ill and needs to take a break for a week. What are you going to do? Creating redundancies helps you avoid these single points of failure that can entirely break down your team’s workflow. When you hire virtual employees you acquire a safety net, support to help your team when someone has an emergency or suddenly leaves the company.
Gain Expert Insight through Outsourcing
When you outsource redundant tasks you gain access to global talent. What does this mean for your team? You can pick the brain of someone with a diverse background and gain insight from another expert with their own skillset and expertise. This can be a great addition to your business, especially when you want to expand your services and acquire a competitive edge.
How Outsourcing Cuts Costs
A Deloitte survey reports that 59% of businesses believe outsourcing boosts cost savings without taking away from work quality. This is in contrast to how some businesses might think of redundancies as extra manpower that’s not producing more revenue. However, creating redundancies can actually help you save money on an in-house team. You can hire virtual employees from international locations that increases your cost savings while increasing your manpower at the same time. Remote work also saves you on overhead costs— another plus in the books.
The Bottom Line
Outsourcing your redundant tasks can skyrocket your cost savings and productivity. You can also sleep well at night knowing you’re avoiding numerous risks that come with a lack of redundancies. So the next time someone scoffs at the redundancies in your company, just remember all the time and money outsourcing redundancies has saved you. Gain more insights on how virtual employees can work for you and your business. Follow us on Facebook and LinkedIn.