Turn the Great Resignation into Your Great Expansion

Think this is just another article from a sales executive with the end goal of promoting the company in a slick way? If you know me well, you know this isn’t the forementioned.

Though you and I have different day-to-day responsibilities, as executives, we face the same struggles within the industry. I’ve been deep in thought lately on how the Great Resignation, or so it’s called, is affecting you and I, and how considering resignation as expansion can redefine our objectives and strategies for success.

The Great Resignation has earned its title in 2022. You’ll be hard pressed to find a business owner who’s not stretched thin on hiring. The biggest challenge, find new team members faster than those are resigning. For our industry, a few interesting trends have developed that you should be aware of.

What We’re Seeing:

Outsourced Solutions Adding Value Larger scale companies looking to grow quickly and efficiently are seeking outsourced solutions they previously would have not considered but are finding immense value.

Ancillary Functions Leaving En Masse Marketing, HR, Finance and other ancillary functions are seeing resignations in droves due to the pandemic opening up national remote opportunities. Employees working in this space have skillsets that are hard to replace, and deep organizational knowledge makes them particularly attractive to competitors.

Recruiting is an FTE LinkedIn, Indeed and ZipRecruiter aren’t cutting it today. There’s just too much competition. Companies are seeking new ways to fill these roles and it’s a constant need.

These trends are on the rise, being driven by a highly competitive employer market. And, we haven’t even talked money yet. When you’re lucky enough to find a team member with the right talent, salaries are higher than ever. Budgets are blown, current staff salaries may be driven up. You’re left to make the decision to you hire someone at a lower salary that may or may not fit the bill.

The solution that works, and I mean actually works long term for your business, is expansion through outsourcing. Why in the world would you want to do this? Let’s discuss.

Outsourcing isn’t simply a Tim Ferriss philosophy to shorten the workday. It’s a powerful expansion strategy for your companies’ future. By hiring an outsourced team that’s specialized to meet your needs, you gain highly trained individuals with the right talent immediately, not 6 months and maybe a good fit later. This goes far beyond services like what you do day in and day out, this is HR, payroll, recruiting, video creation, outbound marketing, specialized accounting, and anything you can dream of that’s ancillary to your business.

To be clear, I’m not advocating to outsource your core services, unless it makes sense of course. But why face the immense stress of 3.75 million people resigning each month and the same recurring problem time and time again?

We work with a highly talented company that outsources HR as a service. They deliver payroll, policy creation, recruitment, and every service traditionally associated with internal HR or PEOs. Their business is growing at unbelievable speed because they are filling a tangible business need with a higher level of expertise without spending $70,000 in simple payroll expenses or one HR manager. If your company struggles with policies, they have team members that understand and have written policies for a fraction of the cost and time it would take you internally. I use this example for a simple purpose, expand your business philosophy even for those items you wouldn’t fathom five years ago. I know I sure wouldn’t have thought about any of those items outside of payroll with a massive company who makes you wait 45 minutes or longer on hold to begin to speak with a real person.

Today’s world is about experience. Your team members are seeking flexibility, fulfillment and balance in this post-pandemic market, and security is diminishing in importance. The weight of this problem is affecting every single one of us as business leaders. Big companies, small companies and those in between are spending as much time hiring talent as they do searching for prospects in many cases. Can your business afford this?

With this shift, an opportunity has arisen for those providing outsourced services. The ability to plug-and-play with a team of experts has become more attractive than ever before because the need is higher than ever before. There is now an opportunity to sell upstream as well as meet the needs of your existing audiences. Whether the service is outsourced marketing, Sales, HR, CFOs or anything else, it’s time to look outside the box to fulfill the business needs of your organization. This applies to everyone, not only for smaller companies under 100 employees.For companies with less than 300 team members, you can save significant capital in payroll and benefits by simply outsourcing.

In summary, the ways of yesterday are already far behind us. There’s a new solution for your talent needs. Outsource to expand and watch your business flourish.

Sources: https://www.shrm.org/resourcesandtools/hr-topics/talent-acquisition/pages/interactive-quits-level-by-year.aspxin a single month according to SHRM(December 2021).