While researchers may take years to understand the full effects of the coronavirus on human anatomy and its long-term implications, the intermediate effects of the virus are being felt in people and countries every day.
Business owners have seen everything in the past two years, from workplace restrictions to closures. Added to these troublesome scenarios is the need to keep their employees’ homes burning. Such a situation had not been experienced since the Great Recession between 2007 and 2009.
The latest effect of the COVID pandemic is a phenomenon that has never been experienced before in the US economy. Something no one could have predicted, given the massive job losses due to a declining economy: the big quit.
The big resignation
At the start of 2021, the United States experienced an economic trend never seen before. The Big Quit, also known as the Big Leave, in which employees voluntarily quit their jobs.
Statistics indicate that more than 38 million workers left their jobs in 2021, with a 4.2 million resignations in October 2021. Alarming figures have created turbulence within the American economy.
Although labor experts are still unable to understand the precise reason for this trend, the main reason seems to be people’s reluctance to return to their workplaces after working from home for almost two years.
The desire to maintain a better work-life balance, to enjoy the flexibility of working from home and to devote the time saved on the commute to keeping up with their personal activities are other reasons given by people who quit their jobs in droves. of work.
Whatever the reasons, herd mentality or personal, the effect of The Big Quit on the workforce has been overwhelming, with organizations struggling to meet their business commitments.
In such a scenario, there seems to be only one likely solution: outsourcing.
It’s time for employers to adapt to changing business scenarios
While businesses such as retail stores, food companies, leisure and hospitality need their employees to be physically present to continue their business, there are others that can do without this specific need.
The work-from-home or remote work concept of the past two years has shown that service-oriented businesses can still survive, provided they manage to adapt to a remote work model.
With employees in the United States still reluctant to start working for a variety of reasons, American companies may begin to explore the concept of outsourcing, i.e. using remote workers more actively.
With remote workers readily available for more mundane tasks such as accounting, administration, or answering emails, business owners can easily delegate their work to them and focus on growing the business. . Some companies even offer remote assistants for specialized roles such as digital marketing, project management, etc., helping entrepreneurs grow their business significantly.
Industries that can benefit from outsourcing
The Great Resignation was mainly observed in the food (6.8%) and retail (4.7%) sectors.
While both of these sectors depend on the presence of physical employees to take care of customers, there are a majority of roles such as purchasing, logistics management, etc., which are usually handled at the backend level. Therefore, companies may consider outsourcing these roles to remote workers.
Other industries facing employee retention issues that can benefit from outsourcing are banking, insurance, accounting, education, and wellness.
How will outsourcing benefit businesses in the United States?
Outsourcing isn’t the same as it was in the early 80s and 90s. Instead, it’s evolved tremendously since then. Today, providing remote workers ensures that they are well trained in many specialized tasks and fluent in English.
Employees are trained to be productive from day one, with no training or onboarding time at a customer. All this at a fraction of the cost; otherwise, it would cost you to hire an employee in the United States, given the many additional benefits payable.
In addition, you also get the advantage of jet lag. You can easily create a to-do list in the evening with your remote assistant and finish them when you arrive at your workplace the next day. Add to that the flexibility to increase or decrease the required manpower, and you have a win-win situation.
Outsourcing or remote work as some may call it is here to stay!
Remote work is a growing trend given the endless benefits it offers. While employers benefit from a productive, well-trained and equipped workforce, employees benefit from a better work-life balance.
The flexibility and convenience offered by remote work is unmatched. In fact, these are some of the top reasons employees around the world are reluctant to return to their workplaces.
However, employers also need to ensure that they are actively engaging with their remote workforce so that they do not feel a lack of engagement or burnout when fulfilling their responsibilities. .
Working with a remote team requires an employer to have appropriate communication and coordination channels in place, with systems being built to help the employee resolve any work-related or personal issues.
Existing labor shortages have opened up new avenues for companies to outsource. It would therefore be worth their time and energy to engage with a remote workforce to grow their business.
Written by Neelesh Rangwani.
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