Building Your Business: Read This Before You Make Your Next Hire

You need to know the best types of hires to make before you start running job ads, and putting people on the payroll. According to Inc., remote workers are outperforming office workers, and they can come with a variety of other advantages too.

Outsourcing First

There can be some comfort and pros of having some in-house staff. Yet, we’ve seen the world definitely transition to an outsource first environment. That applies to everything from government to hospitals to hedge funds, to Amazon, and especially real estate. However, the reasons it is being done now have changed from a decade ago.

In the beginning outsourcing was simply about finding inexpensive labor. That’s generally who was offering themselves as outsourced team members. Now many of the best and brightest experts in the world, in every field are choosing to freelance or work remote, and they never want to go back. Outsourcing still offers some cost advantages, but that’s now just a tiny fraction of the reason savvy CEOs are outsourcing.

Outsourcing is a Must

You may not have to outsource all of your staffing needs, but from big to small businesses have realized that much of their staffing needs do need to be outsourced.

There are a variety of reasons for this, including:

  • Access to good talent
  • Scalability
  • Business continuity and protection from disasters
  • Efficiency
  • Remaining competitive
  • Net profitability

Protecting Your Business

Sadly, one of the most vital reasons for this form of hiring is to protect your business. Not just from the weather and economics, but from its own staff and opportunistic criminals.

There is dramatically lower liability in a virtual office setup, and when working with remote contractors and independent vendors. America has become a hyper-litigious society. The number one in the world. Unhappy and opportunistic staff, or even ex-employees can bankrupt you and disrupt your business to breaking point, with just a couple of unfounded accusations.

Then there are those who are just out looking for lawsuits and easy money. Including those visiting your premises.

It is very hard to monitor all employee interactions and activities in a physical environment, versus a virtual one where there is plenty of digital proof and documentation. A brand scandal due to another executive, manager, or even between coworkers can deeply damage you, erase your life’s work, and all the good you tried to do in a flash. It’s just so risky today.

Overhead

Physical office staff require space. Not just the cubicle they work in, but community space, restrooms, and storage. That all costs money. So, do the office supplies, technology and equipment, utilities and coffee. Even a small team can save $10,000 or more just the first month by being virtual invested of physical. That’s especially true with all the modern design and perks employees are expecting today. Beer pong tables and do parks and spas are great. They just aren’t in the budget of every small business. Even if you could afford it, that money may be better spent on marketing your business.

Productivity

Inc.’s big beef with office workers now is all about productivity. The data shows that office workers just aren’t able to get work done. The numbers show 16% more workers say they can’t concentrate at their desks today. 13% more say they can’t even find a place to focus at the office. That’s hour after hour of labor dollars just being flushed down the drain each day for workers on a salary.

Surveys show that 65% of workers say they get a boost of productivity from remote working. 86% said working alone empowers them to hit max productivity. Not to mention that working from home means slashing all those excuses and missed days by office workers who can’t get through traffic, have a cold, or have to be home when the kids get off the bus. Plus, 92% say that video collaboration in a virtual work environment not only works, but actually improves their team work.

Not every person is cut out for remote work, or will operate their best in a remote position. They haven’t been trained to do it. They’ve learned their whole lives to be in a supervised classroom setting. Yet, that is changing too. However, among those who are experienced in remote working, they may prove to be hyper-efficient assets to your business.

Summary

A physical office can still have its benefits. There are even hybrid options like co-working spaces too. Still, the data shows that business owners should definitely do all the math, and consider the advantages of outsourcing before making any hires.

How are you doing it?

About the Author

Kent Clothier is President and CEO of Real Estate Worldwide (REWW), a multi-faceted real estate education company with headquarters in Scottsdale, Arizona, San Diego, California, and Boca Raton, Florida.

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Mr. Clothier is an expert in real estate investing. As such his experiences are not necessarily typical to the standard real estate investor and whose results may vary. The successes shared on this site are not considered typical. Most individuals who order the educational materials and systems probably do not follow any of the techniques or strategies and consequently make little to no money due to their inaction. The company is in the process of determining the typical success of its clients. Stories shared herein are for example purpose only and should not be construed as "guarantees" of success. Results will vary based on background, education, and experience and actions taken.