People usually think that companies outsource some of their functions to save on money. While this has been true in the early days of outsourcing where companies enjoyed the savings from properly implemented plans, they have also realised some additional benefits from outsourcing. Generally, when either one or more of the following occurs, it is best you consider Outsourcing as a viable option:
Vacant positions are open for a long time.
Your HR is facing a dwindling pool of qualified people for the open positions. In a tight labor market, outsourcing lets your HR source from a wider pool of potential star performers. You won’t be limited to hiring from your immediate vicinity.
Uncertainty with Market conditions.
Management would like to have a more flexible and nimble operation that is not weighed down by a high fixed headcount. Think: Peak and low seasons. It is nice if you can forecast the future growth of your operations, and maintain your staff, but what happens in a downturn? It is easy to hire, and sadly, hardest to fire/layoff people. By outsourcing your spillover work, you maintain that flexibility and are relieved of having to lay off extra workforce in low seasons.
Quicker time to Market.
Sometimes your project/s needs that top talent and you can’t wait to train/develop your in-house talents. Outsourcing enables your company to tap on the expertise and specialization of outsourcing companies in what they do best. Your in-house talents can work beside your outsourcing provider and hopefully, your inhouse talents can absorb the best practices and accelerate their own expertise.
Minimizing Operational Risks.
Sometimes, it just makes sense to ‘not put all your eggs in one basket’. Outsourcing enables your company to spread your manpower over geographic distances. This makes a lot of sense when the next global pandemic or catastrophe hits your main operating region.
Justin: This is TWIS! This week in Science episode 462, recorded on the 1st of May 2014. Girls versus boys. Today, we will fill your head with much science. But first
Woman1: TWIS is supported by listeners like you. We thank you for your support. We really couldn’t do it without you.
Blair: Disclaimer, disclaimer, disclaimer! Across much of the northern hemisphere, spring has sprung. A new year of Science is blossoming! The seeds of hypotheses previously planted in the minds of researchers are sprouting up everywhere. From garden variety cosmology, to farm town physics. From landscape laboratories, to greenhouse climatology. Knowledge is growing, greening and blooming like never before. A May Day basket of flowering findings for us all. Up ahead, on This Week in Science, coming up next!
Justin: Good Science to you, Blair!
Blair: Good Science to you, Justin! Welcome everyone, to this week’s episode of This Week in Science. Today we have a great show ahead. On this week’s show, we have so much. I have speedy mites. I have deep-diving sea lions and seals. I have migration, I have stress release. I have bees, I have cartwheeling spiders. I have so many things. I just don’t think we have enough time for all of it. What do you have Justin?
An exciting event on entrepreneurship innovation and its commercialization is unfolding in Singapore on April– 14 – 16, 2014. InnovFest is presented by National University of Singapore (NUS) Enterprise and this year’s theme is Innovations Going Global. For registration details, check out the website at www.innovfest.sg
The event has five pre-conference workshops that are conducted by international experts, including National Business Incubation Association (NBIA), Association of University Technology Managers (AUTM), IP Intermediary and IP Academy, as well as the World Intellectual Property Organization (WIPO) that covers:
Marketing of Technology by Ms Jane Muir, Association of University Technology Managers (AUTM)
Intellectual Property Valuation by Mr Keoy Soo Earn, Deloitte Southeast Asia
Role of IP in your Company by Ms Candra Darusman, WIPO, Mr Zaid Hamzh, Strategic Counsel, Author and Intellectual Property Strategist, and Mr Leandro Toscano, legal Officer , WIPO
Med Device Development primer by Mr James Macem on, VP at nanoMR
This workshop is then followed by two days of conferences that deal with four major themes:
Urbanization and Future Cities – Find out the emerging Asian Innovations for building and design of sustainable cities.
Ageing and the Silver Industry – Smart Home Technologies and latest research on the impact of food and nutrition on ageing, including the science behind the building of communities for the elderly.
Next Generation Learning – Learn new models of education that support learning without boundaries and how to foster creativity.
Bottom of the Pyramid Technologies – Join discussions on how innovative solutions can deliver affordable and effective public healthcare; learn sustainable business and operating models for impactful social enterprises; technology for farm and pest management and more
Participants to the event also benefit from the exhibits and the showcase found in the Graphene, Membrane and Polytechnic Pavilions. There will also be opportunities to have one-on-one meetings with potential business partners throughout the 2 day conference.
Time Code: 0:00:08.3
[Theme music] David Kirkpatrick: Hello. I’m David Kirkpatrick. I run something called “Techonomy Conference” which is a place where technology leaders come together with business and government leaders to talk about how technology is changing everything. Conference happens in November, south of San Francisco.
Now, I met Mark Zuckerberg in 2006 when he was 22 years old and Facebook had nine million users. I was so impressed with him from that very first meeting and impressed with his long term vision and the scope of his thinking that I ended up writing a book called “The Facebook Effect” which by the way is published in both Spanish and Catalan.
And now Facebook has 1.2 billion users. So from September of 2006, 9 million, today, 1.2 billion. It’s the largest communication service of any type that’s ever existed.
There’s one movie that portray Mark as an anxious, angry and vindictive person. But that is not the way I have ever found him. In fact it’s actually his sincerity and his earnestness that most impresses me. He thinks a lot about how his company is changing the world for the better. And I think, when you hear him talk you’re going to understand what I mean.
So, Mark, please come out and join me.
Okay, Mark. So, clearly there’s one topic that we have to start with. It’s been on everybody’s lips for the last week or so. You bought WhatsApp for $19 billion which all of us, once we got over, you know, our shock at that, you know, some of us feel like we understand it. But tell us here at the Mobile World Congress, which is really the world’s major gathering of mobile communications – which is an industry that WhatsApp is a big part of, why did you do it and what does it mean? Mark Zuckerberg: Well, WhatsApp is a great company and it’s, it’s a great fit for us. Already almost half a billion people love using WhatsApp for messaging. And it’s the most engaging app that we’ve ever seen exist on mobile by far – that’s 70% of people who use WhatsApp use it every day – which kind of blows away everything else that’s out there.
What we see is that WhatsApp is on a path to connecting more than a billion people. And there are very few services in the world that can reach that level. And they’re all incredibly valuable.So, when we have the opportunity to be a part of his journey, I was just really excited to take you up on that and to help him realize his dream of connecting a lot more people.
The public is hereby warned that Futuregen is not in the business of selling mobile phones on the internet. We have been alerted by a buyer (Asilhan Tr) of samsung phone who has paid but did not get the merchandise. The scammer is using Futuregen’s identity and address without our knowledge, much less our consent.