Bang Design

How do small businesses benefit from overseas talent?

Share: 

Every small business owner has been there before. You have a great product or service and a bunch of loyal customers. Everything is going great till you scale up. And that’s where things start going horribly wrong! SMEs suffer from acquiring the right talent to scale up owing to budgetary and geographic limitations. This in turn hinders their ability to achieve sustainable growth while balancing costs.

Key Challenges SMEs face while acquiring talent

SMEs face unique challenges while trying to attract top talent.
And even if they overcome these, they face a continuous battle to retain that talent. And this battle often sucks up precious resources that could be better applied to creating sustainable growth.

How do they solve this dilemma?

The Gig economy offers a way out for SMEs to acquire talent on a fractional basis. And many SME owners have taken to online platforms to hire freelancers for episodic tasks. While this may seem a mouthwatering prospect, it comes with its own risks which we will explore later in the article.
Others engage with staffing firms to fulfil their needs. In this case, the contracted firm creates a virtual team for you while managing the logistics. This model works best for unambiguous activities such as HR, Payroll or even engineering documentation for the end responsibility of the quality of work remains with the SME, not the staffing partner.
And there are others who work with similar-sized firms who can handle the jobs on a turnkey basis. This approach helps when the SME plans to outsource developmental activities while retaining project management and end customer relationships with themselves.
In this article we will explore the pros and cons of each engagement model.

Working with Freelancers

Freelancers are a good way to ramp up talent for short-term or one of jobs without incurring the costs associated with a full-time employee. Using online platforms such as Fiverr or Upwork allows SMEs to get verified profiles and drive down the costs of engagement through the process of reverse auction.

Pros:

Cons:

Working with Staffing Companies

Staffing companies bring contract labour at scale, something a freelancer can’t offer. They also offer the tempting prospect of dealing with a company which is usually more secure and reliable as opposed to working with a freelancer.

Pros:

Cons:

Working with a Consultancy

Consultancies typically handle projects in parts or on a turnkey basis. They bring the expertise of the freelancer and the stability of working with a staffing company.

Pros:

Cons:
Outsourcing activities wisely can certainly benefit SMEs, both in the short and long run. In a rapidly shifting marketplace, they can speed up the development of newer and innovative products without permanently adding to their overheads. Such engagement models allow for pause and play to stop and start programs according to the general business climate.
These benefits translate to a leaner, sharper organization focused on customer centric sustainable growth and delivering value to stakeholders.
Unlike most consultancies, we offer flexibility as our USP. Our subscription plans allow you to play and pause as needed. They also free you from activities such as budget enhancement or SOW changes and let you focus on what’s important. We also work with Skin-in-the-Game models where we take a small upfront fee and participate in your success through either royalty or equity. This frees up valuable cash flow and assures you of the quality of output now that our fortunes are tied with your success.

SMEs such as Talitrix (public safety) and Orbic (mobile and telecom) have benefitted from our expertise in the past and have maintained a longstanding relationship with us.

Join hands with us!

With a stretch of a dollar, are you looking to innovate and push the boundaries of customer experience?

Working together, we can turn innovative ideas into tangible solutions that open new markets. And do so with the flexibility of an in-house team and the benefits of an offshore one! Contact us today to discuss how we can collaborate and bring your vision to life.

Scroll to Top