Say you need to operate an event, incentive or recognition program…
What are the odds you can pile that on your current staff without a stampede out the front door? Outsourcing. It’s enlisting the services of a company with a particular expertise you lack internally. Outsourcing is a powerful strategic choice that allows you to stay focused on your core business. No sacrificing performance when it comes to mission-critical activities. And it can save your organization time and stress.
“The real power of outsourcing going forward is going to be that it increases an organization's core capacity for change and growth,” says Michael Corbett, author of Outsourcing Revolution. “The business challenges over the next decade are going to be very different than anything we've seen so far, and the companies that weave a powerful network of global partners through outsourcing will be the winners.”
Five critical advantages of outsourcing your next event, incentive or recognition program.
- Control or lower costs. An experienced partner can help you save costs through astute negotiation and flawless execution. Sometimes they even pay for themselves through their negotiating expertise and purchasing muscle.
- Free up internal resources. Most companies today are doing more with less—including less staff than before. Think of outsourcing as an extension of your team—only without the overhead!
- Mitigate risk. A properly executed event or program can lessen the risk of costly unforeseen circumstances or situations that could result in weighty liability issues.
- Gain access to world-class capabilities. Not all companies have internal people with the knowledge or skill set needed to implement incentive programs or plan and operate major events. Solution design and delivery expertise can translate into greater operational efficiencies for you.
- Reduce stress on internal team. Access to experts who can manage and control activities efficiently and effectively eliminates guesswork for your team. Outsourcing lets your internal team look like heroes.
Still not sure if outsourcing is for you? Consider these questions.
- Do I have the scalability and/or depth of internal resources to implement an initiative?
- Do I have access to benchmarking or comparative data to help me understand best practices around my initiative?
- Will the suppliers’ operational expertise help mitigate risk for my company?
- Do I have a way to measure pre- and post-event or program success?
- Could an outside supplier leverage better purchasing power on my behalf?
- Am I positioning my company for future growth by having an outsourcing partner?
There’s much to think about when deciding to outsource. The results can be subjective to your company’s needs and objectives. Be clear on your intent, and select a partner that best aligns with your overall business plan and culture.