February 3, 2012: Business organizations are finding it extremely difficult to retain good employees. This is more evident in small companies. Most of them lose their employees to big companies as they offer them more benefits and even more pay than the smaller ones.
This has been a problem for most of the small business owner for long. The best possible solutions to overcome this issue are outsourcing and hiring interns.
Outsourcing has become popular with both big and small companies and they have been doing this for many years. Anything except the core business function can be outsourced. In the case of companies, particularly in the case of small companies, outsourcing is a solution to meet the clerical requirements.
Even though outsourcing can bring in savings in the form of time and money, business owners should look for references before getting in touch with the outsourcing service provider. The business owner has the responsibility to ensure that the third party service provider has the capability to perform the activities you want them to do.
Before outsourcing the work to the service provider who is new to you, make sure that you contact people who you know to find who they use. This assumes importance in the case of accounting marketing, and tax preparation. These are some areas which can incur huge expenses, so have to be sure about the capabilities of the service provider to whom you are going to outsource the work.
Hiring interns is another option which is less challenging. It is kind of symbiotic relation where both of you are benefitted. They are beneficial in terms of the rewarding ideas that they come up with. Moreover they do not have any other burdens that you have in life and are cost effective too.
For the interns it gives them an opportunity to get exposed to the working of an organization. It could result in a mutually beneficial and long term relationship.
Another advantage with interns is that they are available in all specialized areas. You can find them in universities and colleges that are near to you. You can contact the college or university near your location to recruit interns.
In the case of retaining employees, it is a problem that every organization faces. So make use of outsourcing and interns to overcome the problem. Build long term relation with service providers to build an effective communication channel which will increase savings as time progresses.