Virtually Outsourcing Your Talent
Talent searching has become global for businesses of all sizes, spurring business model innovation. Outsourcing, defined as obtaining goods or services from an outside supplier rather than an internal source, was the starting point for the global talent search.
The largest companies in the world use both outsourcing and directly managed offshore teams to support multiple parts of their business to improve efficiency and reduce costs.
For example, major industry players such as JP Morgan, Amazon, Microsoft, Google, and others have a sizable overseas workforce.
Why? The global talent pool is incredible, with far more options.
How do you get started with outsourcing?
The first step should be to have well-defined and well-thought-out processes in place, followed by something simple and on a manageable scale. As the offshore team gains experience, the company can consider adding complexities and hiring more advanced or complicated roles.
Companies that outsource want to see increased productivity across their entire organization, both offshore and on-site. It must be done correctly and with the right partner. If outsourcing is on your radar, consider which roles and tasks might be good candidates for an offshore team.
What is the Virtual Captive Model?
Through a business process outsourcing vendor, companies in the virtual captive outsourcing model can build their own team of offshore professionals of any size. The vendor is in charge of recruiting, HR, facilities, IT, and equipment, while the organizations are in control of processes, metrics, and output.
Contrary to popular belief, it is a win-win situation. When accessing the global talent pool, businesses have the same level of control and visibility that they would have with a local employee.