How much on average does it cost to hire and train someone new in your business?

Is it:

  1. £7,345
  2. £3,975
  3. £9,730
  4. £12,480

We’ll get to the answer in a short while. Today’s blog is all about my top tips for outsourcing, so that when you do invest in building a team as a viable long-term plan for the future of your business, you’ll be able to get the most from it. So a few things you might like to consider.

Spend More To Reduce Costs.

Invest time in your business

One of the most valuable advantages of outsourcing, or building a team is the time gained when skilled freelancers do part of the project or service that you previously did yourself. But you need to make sure you use this time wisely, otherwise it’s just lost money. So use the extra time earned from being freed up to work on other key functions. This could be a whole range of core business functions including professional development for yourself, arranging meetings with prospects and existing clients to secure new contracts, time for networking events, developing your business plan, creating new products and ideas, and even to do the one thing we intended to do, sell.

Give accountability to freelancers

Understanding the value and showing trust in your hired freelancers allows them creative freedom which in turn allows them to be innovative, insightful and helpful. The level of trust and accountability that you show towards them engages them in feeling part of your business and responsibility towards the business outcomes. The desire to perform to a high standard is connected with the value we feel in the work we are doing, your team will be thinking this. Does my manager/buyer appreciate my work? Do they value it as useful? Did they thank me for the creative input I offered? All of these questions and more are motivating in doing your and their work to the best of everyone’s ability.

Credit: The Recruitment and Employment Federation

Work with your freelancers to improve your service level.

Hiring freelancers to help with business functions ultimately raises the level of your service or product, remember these skilled freelancers work at this level every day for a vast number of other clients. The other added benefit is that if a client comes to you with a problem, your freelancers will be able to use their extensive network of contacts to put you in touch with someone who has a solution. This is often quite unique to the freelance network as they have to be creative, innovative and problem solvers.

Adopt a mindset around balancing time, cost and value.

Changing your mindset around the value in outsourcing work will free up your time, leading to less stress and in the longer term more money for you to reinvest in your business. It does take quite a mindset shift to move from doing the work yourself to hiring and paying someone else to do it, there might even be an drop in profits to begin with, but once you start you will never look back.

It really is amazing how much time you spend doing processes that can be completed by someone else at a lower cost than your hourly rate. However, you don’t want to fall into a trap of outsourcing every part of your business from marketing to sales to labour, for most, including me, the one hour working week should and will remain a long-term goal. So find the balance that works for your business to keep it moving forward and growing. Know your strengths and limits and work from there.

Just in case you missed the above infographic, the answer to my question on the cost of hiring and training a new employee, according to The Recruitment & Employment Confederation is £9,730. Although recruiting has an added advantage to outsourcing, it’s always best to do your homework and take the steps you need from doing it yourself to outsourcing to employing.

Further help!

If you need additional help in growing your business, then please take advantage of The Sales Mindset Coach resources. Join the free The Sales Mindset Group on Facebook and become a member of a 1500 strong business community. Being in this group will help develop your sales skills, sales approach and sales mindset.

https://www.facebook.com/groups/thesalesmindset/

Funnel Vision: Selling Made Easy – the book!

Finally, grab your copy of my new book Funnel Vision – Selling Made Easy where you can read all about my approach to sales and learn how you can grow sales in your business.

Funnel Vision