Outsourcing

may be considered after carrying out a skills gap analysis for the company. You may find that your company does not have the necessary skills or technical expertise for a particular project or have the time to carry it out. This could be the design, prototyping and manufacture of a new product, design and build of a website or even a specific business function such as accounting or HR. Outsourcing these areas to specialist companies may well deliver more value, be faster and reduce recruitment and operational costs.

Offshoring

is moving a business process and operating it out of a foreign location. For example moving your manufacturing process overseas where labor and office space is cheaper and / or local expertise is higher.

Lean and scaleable:

Outsourcing certain tasks, functions or projects allows you to scale up and down relative to customer needs / seasonal demands without the on-going costs associated with equipment purchase, plant maintenance and the risks/costs associated with hiring permanent employees. A study by the Society for Human Resource Management states that the average cost to hire an employee is £3,200 and takes 52 days on average to fill a position.