It is clear that the emergence of Covid-19 all over the world has brought about a variety of unprecedented problems for business owners both in Australia as well as abroad. The cost pressures have grown more intense, revenue expectations are wildly fluctuating and ensuring a proper balance of work force has been harder than before. The owners of businesses have to balance their capacity for operation and their ability to pay for the salaries of their staff in an unending state of uncertainty.
In response, I’ve witnessed smart businesses rapidly develop flexibility in their method of achieving cost-efficiency. The ability to adapt and take decisive action are now essential for those who want to stay on the right track. For our clients with hammerjacks, the ability to adapt and the savings potential that come from the incorporation of offshore personnel from outside their own corporate structure have been difficult to ignore for long.
In the course of the last five years , our team has witnessed businesses from different industries establish and expand their offshoring companies in the philippines teams despite changing environments. The reason and method by which they managed to accomplish this feat is based on two key aspects. In each case and for all of our customers, the assistance and experience of our hammerjack staff was in place to ensure the most smooth transfer for these owners.
What are the reasons why Good Processes and Boots on the ground are important
With the pressure of bottom-line results and constantly changing restrictions, the pandemic has fundamentally changed the way people think about corporate infrastructure. The process of decision-making has been speeded up and, in my opinion, the urgency of this situation has prompted business owners to explore offshore solutions.
The most decisive steps must be taken quickly and decisively to ensure survival even though they may be challenging, and could free the owner from the angst of uncertainty. We’ve witnessed a few top management teams taking the opportunity to implement bold structural and strategic adjustments that incorporate offshore capital, and bringing a fresh feeling of pragmaticity.
Our long-standing client within the Tailoring and E-commerce industry, Institchu, was the first to recognize this sense of pragmatism seriously and sought out Hammerjack to provide 1 full-time, equivalent staff from offshore to their accounting team back in 2004. Since their business has grown quickly and the corporate landscape has changed the company has expanded this model, to the point of seven employees located offshore, each with different roles in their back office operations. According to the Managing Director & Co Founder James Wakefield Institchu was experiencing rapid growth, and required assistance and guidance with their back office processes. “That’s why we hired Hammerjack to help to streamline processes and make them more efficient so that we can concentrate on the things we excel in,” said Mr. Wakefield.
The establishment of a trustworthy offshore specialist partner, such as the hammerjack industry, has been crucial in helping Institchu to grow their team of capital outsource accounting with a sense of security and clarity, all the way through the outbreak. Hammerjack played a crucial role in identifying areas in which further efficiency could be improved. “There were certain areas that we didn’t know could be a hassle for our staff,” stated Mr. Wakefield.
The smooth onboarding process of staff members “knowledge transfer” which is what Mr. Wakefield calls it, is for why the onboarding of every employee is so effective. This in conjunction with regular training and management is the reason why the partnership has created a an environment of flexibility that’s perhaps more valuable than it has ever been in recent times.
A majority of the most profitable businesses I’ve observed increasing their workforce offshore have done it within this context, and not for the purpose to replace the offshore team, but to strengthen and enhance their capabilities. There is a misconception that many companies hire offshore workers to supplement their domestic employees, but our experience suggests that is that it’s about finding the most efficient and effective mixture of both.
How can you achieve high-quality, consistent results regardless of where your team members are located
A few business owners have noticed and capitalized on the shift in corporate culture, since formerly employees who were employed in-house have shifted to working remotely and from Australia as well as abroad. While some restrictions in the US have been lifted temporarily earlier in the year, we observed some businesses revert to the same framework, realizing an opportunity to save on the cost of a variety of overheads like business rent, travel costs as well as utilities. In the light of that how do you distinguish in the case of a worker who is remote in Sydney or a worker based in the United States? Particularly when you consider it being the case that the most affordable solution is usually much more likely to be located in the offshore region.
The pool of talent is more and deeper than before. The hiring of new employees does not depend on the area where they reside. It has also taken ample time to work out any operational kinks in relation to remote employees. Management and owners are considerably more equipped to manage and communicate with their Remote staff members. Thanks to this technological advancement, managing the offshore team member or members, isn’t much of a hindrance to the business owner as it once been.
However, for certain owners to know which direction to take and establishing a promise of quality and knowing how new offshore workers can integrate into the existing environment and structure of an organization has held their hands. for Obsidian Advisory (tax and accounting experts) growing efficiently with the best offshore team members to meet their requirements was nearly impossible without the partnership and the procedural direction of our hammerjack expert.
In just two years, despite the strains of the pandemic, they’ve been able to increase their offshore workforce to one equivalent full-time team member up to six employees, working with our team of specialists through the whole process.
Managing Director, Joe Hart emphasizes the importance of quality when you expand an offshore workforce. “hammerjack doesn’t copy paste or adopt the bums-on-seats approach The finer details of the way we align our business with our values and culture elevates it to a higher level and we’re now witnessing our offshore team deliver better quality and more consistently as compared to our onshore employees.”
The old saying goes that pressure creates diamonds. It’s a fact that the pandemic has put unimaginable levels of stress on small business owners across spectrum. But, some are motivated to take action, spurred by the need to withstand and endure the apocalyptic conditions. This new sense of urgency could simplify the process of making decisions , and eventually creates an opportunity for flexibility and agility.