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Outsourcing as a Business Strategy
- What is Outsourcing
- Outsourcing Defined
- What it is Not
- Why outsourcing
- Frequently outsourced tasks
- Data points and survey results
- Benefits of Outsourcing
- Disadvantages
- Tips to finding the right vendor
Overview of the webinar
The growth of the outsourcing market in the past few years has been phenomenal, and all indications are that the pace will continue unabated for years to come. Outsourcing has been around for a long time- for example, most companies outsource their payroll to a payroll provider. Much of the action until the late 1990s was focused on informational technology (IT) outsourcing. The goal then was often largely restricted to achieving operational efficiencies. The past four to five years, however, have witnessed the rapid growth in using outsourcing as a business strategy success factor. With functional outsourcing, the goal is typically using subject matter experts and focuses on the realization of overall business benefits, whether enhancing an organization’s competitive position in the marketplace or improving shareholder returns.
A recent Accenture sponsored survey noted that over 90 per cent of the executives surveyed who currently outsource said they expect some degree of change in business processes through outsourcing (“Outsourcing-Shared Risks and Shared Rewards,” Accenture, 2003). From its earlier days when it was viewed as little more than a ho-hum tactic aimed at reducing costs, outsourcing has now matured into a strategic management tool.
This seminar is divided into three parts. In Part I, we explain the essence of strategic outsourcing; in Part II, we examine a methodology for linking outsourcing to business strategy; and in Part III, we look at a case study in progress of a large strategic outsourcing relationship. Part IV, we review some tips in the research and selection of outsourced vendors
Who should attend?
- President
- CEO
- Owner
- Partner
- Executive Director
- Executive Vice President
Why should you attend?
There are many reasons why a company may choose to outsource a particular function of their business instead of hiring staff to complete those functions. Most Owners or CEOs have the end-result-in-mind that they are going to save time and/or money. Other reasons include:
* Resource shortages are relieved
* Outsourcing provides the ability to concentrate on core business functions
* Outsourcing yields cost savings
* Outsourcing increase proficiency in expert areas
* Outsourcing provides flexibility
* Reduced overhead through outsourcing
Outsourcing support functions is not simple, though, and companies must manage the related strategic, quantitative, and qualitative risk factors. We will discuss the pros and cons of the trend to outsource support functions as a strategy for businesses today.
Faculty - Ms.Rose Miller
Rose is the Owner of Pinnacle Human Resources, LLC, a NYS and Nationally certified Women-Owned Business. Rose’s primary area of expertise is in consulting related to human resources support that helps clients reduce costs by aligning people with their core business, reduce redundancies and improving the entire HR delivery system. Rose's team of HR experts service clients in matters of employee policy and procedures manuals, employment law compliance, talent acquisition, compensation and benefits, HR risk analysis, performance management, and HRIS systems. Pinnacle HR also provides full cycle, web-based payroll processing services.
Rose has over 25+ years experience in both large and small companies. She graduated from Lesley University in Cambridge, Mass with a B.S. in Organizational Behavior and is certified as a Senior Professional in Human Resources. Rose writes an HR column for the Albany Times Union that appears in the WorkLife section on the first Tuesday each month.
Rose is an active member of the Society of Human Resources Management (SHRM), and the Capital Region HR Association. Board member of Parsons Child and Family Center, Girls, Inc., Girls, Inc. and Sand Lake Center for the Arts, as well as a member of a variety of professional chambers and associations.