Do you have an office full of overworked employees who cannot reasonably complete tasks by their deadlines? Employee retention is extremely important in today’s economy, especially when you have quality workers who are skilled and have been loyal to your organization. By retaining your employees, you can keep hiring and training costs down, which leads to greater profit and increased customer satisfaction. When your current staff is exhibiting the signs of being overworked, it is important to take action as quickly as possible by choosing to outsource certain tasks to take the pressure off of your office’s shoulders. Here are some signs that will indicate when it is time to outsource:
1. Turnover Rates Are Suddenly on the Rise
There is turnover in any organization, but if the rate of employees who are leaving voluntarily is on the rise, this is a sign that it is time to outsource some of the tasks your employees do not specialize in. It costs about 150% of an employee’s annual salary to replace them for mid-career professionals. This is because recruiting, hiring, and training costs money and time. The cost of employee turnover is much higher than the cost of outsourcing.
2. You Are Being Fined or Penalized for Errors
You must follow filing rules and payroll rules when you run a legitimate business. If you do not pay an employee on time, there is an error in your financial reports, or you miss a filing deadline, these mistakes can cost you a great deal of money. Overworked employees are much more likely to overlook a warning or miss a deadline they would have made otherwise. By hiring outsourcing agencies to handle things like payroll, bookkeeping or other legal issues, you can pass the burden on to an agency that does nothing but keep track of the deadlines and notices.
3. You Are Losing Opportunities
When your customer base starts to shrink, this could be a major sign that your customers are being neglected. Neglected customers do not get the attention and the quick service that they want. You should always give your employees the help they need to serve customers as effectively as possible. A lost customer equals lost revenue and lost future opportunities.
4. Increase in Worker’s Compensation Claims Filed
If you entrust an employee with performing tasks they are not experienced with, they have higher chances of getting injured. If you have more injury claims than ever before, you may be putting too much on your employees’ shoulders. An Edmonton steel fabrication specialist from Advantage Manufacturing Ltd advises business owners to consider outsourcing the most dangerous tasks to trained specialists, as these can result in serious injury when performed by untrained employees. By outsourcing these tasks, you can minimize your employee risks and maximize efficiency.
Outsourcing is a great option for companies who need short-term help or assistance on a continuous basis. Be sure to sit down and review the processes and tasks that could potentially be outsourced, and then hire a trusted company so that you can focus on your mission.