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Outsourcing Is It Right For Your Company?

Listening to business news this week, there was discussion about the "5 top hot jobs” in the country right now. The top three were positions that were growing because of the amount of regulation, data management and organization that a company needed to deal with running a successful business today. They are:
  1. Data Management specialist:  $116,000 average salary
  2. Tax Management specialist:    $106,000 average salary
  3. HR Manager:                            $85,000 average salary

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For larger companies, these positions can be justified and salaries met. For smaller companies, even though they have the same issues and problems, this is an expense that is difficult to absorb. So, the answer for most small businesses is having someone else do it within the company. Here is the problem, the person already has a load of work that is expected of them, including the owner. The employee, many times, does not have the experience or knowledge in that area which makes it even more challenging. This can also open the company up to liability and potential exposure. So, what is the solution for a business, many feel it is outsourcing. Another term, at least from where I see it, is a Partner Advocate to help with those areas which you have limited expertise or limited resources to work on.

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What is Outsourcing. A simple definition from Webster’s dictionary, is “to send away a company’s work to be done by people outside the company”. I would like to say that is an “extreme” and “cold” definition. The definition should be more like, “to partner with organizations that can provide services, expertise and solutions through technology and human resources, working with businesses to help bring results and meet their overall objectives.” Today, because of the complexity of our society including significant increase in laws, regulation and compliance, that even a few years ago no one could imagine would be a requirement for a company to be on top of and adhere to, are expected to do just that.
Technology, and the need for speed of getting goods and services to the marketplace, (thanks Fed-Ex!), the demand on businesses for getting products and services made and delivered, put a burden on businesses to constantly reinvent themselves and constantly upgrade. Unfortunately, with small businesses, they don’t have the manpower or resources, including financial resources to have the latest tools, information or expertise to compete with bigger organization, until now.

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No doubt, internet, software, smart phones and “You tube” has helped small businesses significantly be more competitive through efficiencies and cost. These resources have helped our society in a huge way in getting more things done less expensively. The challenge is, regulation, where it is through EPA, Department of Labor, IRS, or other regulatory group, has grown faster than technology. Every year there are over 100 new laws enacted by Congress. There are many more enacted in the states and local community, many written for businesses to comply with.

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The latest and greatest costly law that has impacted small to medium businesses most has been Affordable Care Act (health care reform). There are hundreds of changes, amendments and addendums that are added to the already convoluted law that is in place creating even more confusion. The amount of filings, laws, cost of upgrading equipment, additional workload that the employees must endure with non-revenue generating activity can be overwhelming. This creates another challenge for a business which is morale, attitude and turnover.
Here is the point, if you are an entrepreneur or owner of a company, you did not start the business to deal with all the regulation and compliance that is taking you away from hitting your target. You have objectives of growing the business and you need the control and efficiency to hit it. Bottom line, you want to make money. Outsourcing the right services and support can be the answer.

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Tom Hamilton, Hamilton Edwards, Inc. 704-375-1112 x 103, toll free 866-313-1112, email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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