Now Is the Best Time to Consider Offshoring At Least 1 Job at Your Company — Here's Why. More than ever, we live in a global work-from-home economy. Offshoring can help you reap the benefits of that by cutting costs, enhancing unit economics and improving productivity.
By John Boitnott Edited by Kara McIntyre
Key Takeaways
- Offshoring can significantly reduce costs due to lower living expenses and beneficial currency exchange rates in other countries.
- Advances in technology and the rise of remote work have dissolved geographic barriers, making it easier to manage offshore teams efficiently.
- Properly managed offshoring not only lowers operating costs but can also lead to increased productivity and business growth.
Opinions expressed by Entrepreneur contributors are their own.
Offshoring work has been popular for quite some time now and has been a popular topic among entrepreneurs. But there's no time better than today to do this. The global economy post-pandemic has seen a rise in work-from-home, and advances in technology that let remote workers communicate and share information securely and efficiently from anywhere in the world. Geographic location is no longer a hindrance to success for workers or a barrier to hiring for employers.
Managing my own business for more than 15 years has shown me firsthand the value of using offshore employees to lighten my administrative load and make me more productive. Here's a list of examples, statistics and reasons showing why it's advantageous for businesses to find at least one part of their operation to send offshore.
Related: 5 Ways to Instill a Company Culture Even When Your Workforce Is Virtual
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