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Outsourcing Could Relieve Pressure in a Tight Labor Market

If you have been to a restaurant lately, you might have noticed that the establishment was short-staffed. The current labor shortage is most visible in the food and beverage industry but, as you may be keenly aware, it is affecting employers of all kinds. In fact, the U.S. Bureau of Labor Statistics reported in early September that the number of job openings had increased to a ‘series high’ of 10.9 million on the last business day of July 2021.

One potential solution to easing the pressure of such a tight labor market is outsourcing. By eliminating the need to hire for certain support positions, you can focus your hiring efforts on employees who are essential to fulfilling your organization’s mission. Some of the most outsourced functions are discussed below.

Accounting & Financial Reporting
It may be time to engage an external expert to handle accounting and financial reporting. A reputable provider can manage your books, collect payments, pay invoices, and keep your accounting technology up to date. The right provider also can help generate financial statements that will meet the desired standards of management, investors, and lenders.

Customer Service
You may be hesitant to outsource customer service because, for someone to represent your organization, they must work for it, right? Not necessarily. Internal customer service departments often have high turnover rates that drive up the costs of maintaining them and drive down customer satisfaction. Outsourcing to a provider with a more stable, loyal staff could make everyone happier.

IT Services
Employers have a long history of outsourcing IT tasks. A vendor can provide hardware or software, handle tech support, and help you stay on task when pursuing your strategic objectives and not get diverted by technology’s constant changes. They also will stay on top of the latest, optimal solutions for your organization, as well as help you better access, store, and protect your data.

Payroll & Benefits
As an employer, you well know how challenging it is to keep up with the many complex regulations and frequently changing laws that affect payroll and employee benefits. A qualified vendor will be able to not only adjust to these changes, but also give you and your staff online access to payroll and benefits info that allows employees to get immediate answers to their questions.

Consider Your Options
As you and other employers struggle to find and hire qualified job candidates, outsourcing certain job functions could offer temporary or even long-term relief. Consult our professionals to assist with functions in your organization to remain in compliance and up to date with technology.

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