How Good Outsourcing Can Benefit A Business?

Posted by Martin Jackup on June 15, 2015 in Business Outsourcing |

Outsourcing is being seen as exploitation of locals by denying what is rightfully theirs by providing opportunities to outsiders. In many countries, outsourcing has been seen as an economic stigma. Yet, the need for outsourcing cannot be totally overruled. There are many businesses that have found respite in outsourcing, for instance, housekeeping, finance companies, work from home business, tour operators and IT companies. Outsourcing is a cost saving proposition and with the advent of technology and global communication system getting better hiring talent from abroad is no harm as long as the results are delivered. When speed matters, it is ideal to outsource while you concentrate on your core business.

Outsourcing is justifiable in many ways. Outsourcing has given an opportunity for small and medium companies to compete with corporations. With competition on the rise, it has become inevitable to hire from the global marketplace to handle the pressure. Outsourcing gives job opportunities to developing countries helping them work in their own country without having to relocate to foreign countries. The industry has also created new jobs and also helps to find new markets to sell local brands. With high attrition rates, it is advised to outsource jobs to answer the unstable economic scenario. Outsourcing has both ups and downs, but there is no doubt that profits outweigh concerns. Despite the negative publicity, outsourcing does have its positive side.

While outsourcing, if you keep the following factors in mind, it will make you feel better. Always outsource to cut on cost not because labour is cheaper overseas. Do not hesitate to pay outsourced personnel as per the existing minimum wages and respect labour laws of the country you outsource. Ensure that they are treated with dignity. Always choose only reliable outsourcing companies that have a reputation in the industry. They should abide by the labour laws and run the company based on preset guidelines. An outsourcing company that is able to provide referrals should be the first choice. There are many fly by night companies that have to be avoided at any cost. Verifying the license with the commerce board could be an added advantage. Choosing a company based on reference is the best choice.

Read More How To Improve Business Negotiation Skills?


How To Improve Business Negotiation Skills?

Posted by Martin Jackup on May 24, 2015 in Business Negotiation |

Negotiation is a vital skill that is acquired over a period of time through experience and training. There are many ways to improve negotiating skills. First, listen to what the opponent has to say with regard to the situation that has come up. Patiently listen to their side of the case as this gives them satisfaction that they were not given the opportunity to explain their point of view. Moreover, it makes them feel important. Always talking does not put you in an advantageous position, and sometimes silence also is a weapon that can be used to your advantage. Silence can give you time to rethink the situation. Negotiation is a skill that is mastered over a period of time. This is an important tool in business; never underestimate the art of negotiation. Practice this skill to protect your business interest.

Before going for a negotiation prepare thoroughly. Have a plan in place. It is even advised to do some reading before going to the table. There are many training programs that can help develop the skill of communication and negotiation. These courses are short and are affordable. Corporate spend on training programs because they have understood the need for training and the value it brings to the business. Choose the right trainer that has experience and can provide customized training. Another important skill to master while negotiating is to maintain eye contact.

Begin a meeting with a handshake as it can say a lot about your confidence. Maintain a dress code keeping in mind the mood and temper of the meeting. While leaving, be firm and crisp. While negotiating, be flexible, and do not decide on the outcomes before starting the meeting. A good negotiation is a win-win situation for both parties, and there is no winner and loser. Once the negotiation is over it is important to put the outcome of the meeting in writing. Record the meeting. Take down notes in between to help you keep track of the conversation.

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