Businesses are constantly on the lookout for ways to improve their bottom line. One of the major hurdles they often encounter is the mounting operational costs, particularly labor costs. Specially in today’s world with the inflation and difficulty on finding the right people to work with you, this can be a monumental task to complete and implement, however, in this blogpost we’ll explain how nearshoring contributes to business efficiency and tips on what to look for when you venture out to try to find a nearshoring company to work with you.
The Burden of Rising Operational Costs
Maintaining an in-house team can be expensive. From recruitment and training to salary and benefits, labor costs can take a significant bite out of a company’s budget. The Society for Human Resource Management estimates that the average cost of hiring a new employee in the U.S can exceed $4,700, not including the ongoing costs of salary and benefits.
The Strategic Advantage of Nearshoring
This is where nearshoring comes into play. By transferring certain business operations to locations with lower labor costs, nearshoring allows businesses to maintain a high level of service while substantially reducing expenses. As long as the company you want to hire is close to you, your operations won’t suffer at all! On the other hand, they’ll prosper in the form of completing the smart goals you set for you and your clients.
Nearshoring in Practice
There are numerous examples of companies successfully implementing nearshoring to mitigate operational costs, Kreativa is the best example of them having served to 50+ companies over these past 6 years.
Another notable example is a U.S based e-commerce giant that nearshored its customer service department to Costa Rica, achieving substantial cost savings while maintaining a high level of customer service.
Maximizing the Impact of Nearshoring
To effectively implement nearshoring, companies must carefully select a nearshoring partner, ensure robust communication channels, and plan for a smooth transition. The nearshoring company needs to provide this and you have to make sure the elements you require are checked within this external company, so you can confirm they provide the potency you need for your operations.
If high operational costs are a concern for your business, nearshoring could offer the solution you need. Contact us today to find out how our nearshoring services can enhance your business efficiency. Also, save some money!