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For the past few months, the world economy has struggled with the devastating impact of COVID-19. With everyone trying to cope with the “new normal,” businesses are scrambling to create a new standard operating protocol for what is ultimately uncharted territory.
Thirteen trillion dollars were allocated by governments worldwide to secure and rebuild their country’s economy amidst the pandemic. Yet, analysts expect most of the affected countries to face serious recessions. Countermeasures such as social distancing led to the closure of markets, offices, businesses, and events. And the continuous spread of the virus and the constant rise of the number of cases have increased uncertainty over a drastically worsening situation.
Errin Duffin, published in Statisa.com that as of June 9, the COVID-19 pandemic posed a level seven threat to businesses globally. This means that countries worldwide will encounter the same severe and widespread impact. In the United States, 22.6% of Hawaii’s population was unemployed as of May 2020. Nevada had the dubious distinction of boasting the country’s worst unemployment rate at 25.3%.
With all of that said, some countries are starting to recover by slowly easing lockdown measures. Among the first sectors to return to work are manufacturing companies. Also, shops, malls, and restaurants are now allowed by many governments to open, albeit with precautionary stipulations in place. Still, we cannot ensure that consumers will immediately return to their buying habits due to financial challenges. One marketing strategy that some businesses have adapted to overcome their challenges is outsourcing.
READ THIS RELATED ARTICLE:Outsourcing Trends and Statistics for 2020 and Beyond
Even before the emergence of the pandemic, outsourcing has been considered by most large businesses as a clear-cut solution to streamline their business operations. Now, as the world fights for recovery, this marketing strategy has become more relevant than ever before.
Outsourcing creates flexible conditions that help companies reduce operational overhead and tap into a specialty workforce. Other outsourcing benefits include remodeling the organization’s business processes, more effective business operations, reduction in employment lead time, and adopting trends and technologies to stay competitive.
Below are the pros and cons of outsourcing to guide entrepreneurs in deciding whether or not to outsource.
Pros:
Cons:
Picking an outsourcing partner will either become the best or worst decision you ever made. Do your due diligence.
READ THIS RELATED ARTICLE:How To Leverage Outsourcing To Increase Your eCommerce Sales
Deciding if you need assistance may not be that difficult to determine. The harder decision is who you should partner with on the path to recovery.
SuperStaff has a decade of experience working side by side with companies that have reached the status of Fortune’s Best Companies to Work For. In the end, our goal has always been to exceed expectations while building a relationship that is fortified by trust and reliability. Contact us today for a free consultation.
If you are looking for outsourcing services that can figuratively lift your business off the ground, book a consultation now at superstaff.com, and discover what makes our staff and services truly “Super.”
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