The hunt for top talent gets wider by the day.
Employers are going beyond traditional boundaries – beyond their companies, industries, and even beyond their shores.
This trend was driven by factors such as a shortage of specialized talent, the desire to reduce costs, and the need for more diverse workforces.
Freelancing was the initial model for acquiring external talent, primarily for small, one-time projects. As businesses expanded and required larger, more integrated teams for sustained operations, models like freelancing no longer made the cut.
There was also one major concern about freelancing models: information security.
This is why over half of small businesses (52%) regularly prefer delegating tasks to a professional firm or agency over a freelancer, as published in a 2023 report by Clutch.
As a result, more comprehensive strategies like global talent acquisition and outsourcing have emerged.
Global Talent Acquisition Vs. Outsourcing: A Comparison
Global talent acquisition goes beyond filling vacancies; it’s a strategic approach to sourcing, attracting, and retaining talent internationally. This is common when hiring for specialized or high-demand areas and employers can still retain complete control of operations.
Similarly, outsourcing also involves leveraging global talent but with a few distinctions. Outsourcing refers to contracting specific business functions to a third party to reduce costs or access specialized skills.
Here’s a quick overview:
Which Model Suits You?
If you are an SME looking to hire limited resources for a niche requirement, Global Talent Acquisition is ideal.
For larger business models, the best approach is undoubtedly outsourcing, backed by its comprehensive nature, cost-effectiveness, organizational structure, and reliability.
Why Should You Outsource for Larger Business Models?
Comprehensive Service Offering
- End-to-end Management: BPO providers handle the entire process, from recruiting and onboarding to daily operations, performance management, and employee well-being. This eliminates the HR overhead and frees up both your time and resources to focus on higher-level tasks.
- Effective communication and collaboration: Even though the BPO provider oversees daily operations, they also prioritize scheduled conversations with clients to evaluate the quality of their offshore employees. This makes sure all expectations are aligned.
- Infrastructure and Technology: BPOs provide all the necessary infrastructure including hardware, software, and connectivity, freeing SMEs from upfront investments.
- Process Efficiency: Organizational structure, established workflows, and business continuity plans to ensure seamless operations and minimal disruptions. Both reliability and accountability are guaranteed.
Cost Efficiency
- Significant Cost Reduction: Outsourcing to regions like Sri Lanka can cut operational costs by up to 60-70%.
- All-Inclusive Pricing: BPOs typically offer all-inclusive packages covering salaries, incentives, infrastructure, and overheads, simplifying budgeting.
Security And Risk Mitigation
- Information Security: BPOs adhere to strict data protection standards, eliminating any information security concerns. This includes GDPR, DPA, and compliance standards.
- Scalability: BPOs can easily adjust workforce size based on business needs, reducing onboarding and offboarding costs.
Regardless of whether you opt for Global Talent Acquisition or outsourcing, it all comes down to the partner you pick.
This is where we come in.
H Connect International brings a wealth of experience and stability to the table, as a subsidiary of the Hirdaramani Group with a century-long legacy.
With us, you can build your global team with best-in-class Sri Lankan talent or completely outsource your functions and benefit from the specialized domain knowledge of our experts.
At the end of the day, what you are looking for is peace of mind, and rest assured, you have that with us.
Reach out to build your team in Sri Lanka, today.
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