Archive for the ‘Budgeting’ category

The Benefits of Outsourcing

June 10th, 2011

The Benefits of Outsourcing ImageTo a layman, outsourcing would seem like a waste of time and money, as well as an unneeded complication. After all, why send business abroad when the work can probably be done better right at home? To a politician, the issue of outsourcing serves as a fortified objection to taking jobs away from ‘our own countrymen’. Sympathy towards this issue may elicit a few votes, but nothing more.

But to a businessman, outsourcing is a modern day boon. Outsourcing grants businesses the freedom to dump non – core, yet important sectors of its administration on companies specializing in those very individual aspects. Thus, leaving the businessman free to wholly concentrate on those areas of the company that bring in the real moolah.

The most enticing advantage of outsourcing is the cost effective factor. Human resource and IT services in the United States or Europe are not exactly inexpensive. Let’s avoid complicated business jargon and say that outsourcing is basically an option that offers these services at a much, much lower rate i.e., a cheap but highly productive mass work force. Let us take India as an exemplary illustration.

Thousands of highly intelligent people graduate in a variety of fields each year. Almost all of them speak English better than the English, and have dreams of making big money in a short period of time. The boom of BPO’s in the last 10 years has given them a chance to realize those dreams. It provides them with the opportunity to stay close to home and earn almost as much as they would if they took up a job abroad. On an average, an individual would earn $ 300 to $ 500 per month. A small sum to an American, but an Indian would be quite happy with that salary considering the conversion rate. It’s a win – win situation for your business as well as the company you’re outsourcing to.

There is no dearth of candidates willing to suffer incessant night shifts. Due to a constant effort of having to prove themselves, you can be assured of enhanced quality and productivity at all times. The company you outsource to will always be sure to reach your targets, deliver on time, ensure stringent security and maintain a level of productivity which won’t tempt you into taking your business elsewhere. Employees are regularly evaluated and terminated if found wanting in any aspect. The entire process of recruitment and the hassles involved with finding (and sustaining) the right person for the job is taken off your shoulders.

By 2006, in addition to human resources and IT services, companies that take on offshore contracts will also offer tax preparation and back office services. Hundreds of commerce students graduate in India each year and go on to become chartered accountants in a country where there is no dearth of them. Offering these services to countries abroad would be lucrative for both parties. The most advanced security procedures will be employed in this regard.

It all comes down to the money. Let’s face it; we live in a material world. And the technical term for material is moolah. So until the day the cons of outsourcing outweigh the monetary factors (read pros), outsourcing; as a legitimate and lucrative way to do business, is here to stay.

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Motivating and Managing Your Team

February 22nd, 2011

Motivating and Managing Your Team ImageHave you ever caught yourself say “If it was not for all the troubles with staff the jobs will be easy!” ?  If so, then you are not alone. This is something that often happen to managers at all the times and in all industries and professions.  So what tools you need to discover to help you in managing and motivating your team, without feeling completely drained from your efforts? Here are some pointss
     
#1. Catch your staffs doing things right and praise them for it.
     
Whether as parents or as a manager many of us feel our main task is to correct inappropriate behavior. If we really want our children or our employees to develop their potential, we need to reinforce appropriate behaviors. In other words, constantly be on the lookout for people who doing the right things and praise them as soon as possible and as specifically as possible.
     
#2. The enthusiasm is contagious. Spread the positive virus in your workplace.
    
Make sure the vibes you give off are the positive vibes. If you are negative then your people will be negative too. Find the positives in every situation. Treat each problem as an opportunity. Make sure your glass is half full rather than half empty.  You may not be able to change your circumstances, but you can change your attitude to them. And if you do that, then your staffs notice and gradually they catch the positive virus.
     
#3. Create an environment where people catch one another doing the things right.
     
If you follow steps one and two, you will not sound like a hypocrite when you gather your staffs together and talk about the importance of creating a positive atmosphere at work.  Explain to your employees about the advantages of catching one another doing things right. Explain that even though many of us do not accept praise very well, we all like a real compliment. So, the more we praise each other the better we will all feel.
     
Emphasize the dangers in getting caught up in the negativity. There is too much negativity on the news and in papers. We do not need to bring it to work and our customers do not need to hear it from us. Let them complain about traffic jams or economic circumstances if they want, but do not get caught in it. Instead live by the motto  “If you see a client without a smile give them one of yours.”
     
#4. At the end of the day still focus on the positives.
When you are on the way home at night, do you think about the three best things that happened to you that day? Or repeat your mind again and again about the one, two or three worst things that happened?
     
By all means learn from your mistakes, but do not dwell on them. Keep focus on the positives. Mentally catch yourself doing things right and congartulate yourself. Then and only then have you the chances to motivate your team.

 

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