If you’re into any type of business, then there’s a good chance you’ve heard of staff leasing as one of the business solutions currently growing in popularity. You may even be wondering how it is done and what value it can bring to your business. Basically, this business solution involves an agreement between you and another company (usually in an offshore location) that provides you with a dedicated staff who handles the business processes you specify. You’ll be required to pay for their services based on a payment schedule and terms both parties agree to at the outset.
Benefits of Staff Leasing
Perhaps the biggest value offered by leasing your employees is flexibility where the size of your workforce is concerned. It allows you to easily add or reduce the number of people working for your business as needed, which is something you definitely can’t do without much hassle if you hire all of your employees in-house. Even better news is that you retain full operational control over your staff without being burdened by administrative processes such as payroll accounting, bonuses, and income taxes. That’s because these processes are all covered in the agreed fees and are therefore the responsibility of the staffing agency you hire.
Another huge benefit offered by staff leasing is its cost-effectiveness. The amount you pay the staffing agency is, in general, about 70% less than the amount you’d have to shell out if you hired an in-house team. That’s because the cost of living – and consequently the cost of labor – in many offshore locations is considerably lower than it is in Western countries. Considering that you’re getting the same quality of work or maybe even better, this huge savings is definitely one of the best reasons to lease staff from an offshore company.
Many business owners who have chosen to lease employees did so with a Philippine-based staffing agency and there are lots of good reasons to do so. A study conducted recently by GlobalEnglish Corporation ranked the Philippines as the world’s best country in business English. Yes, they were ranked even higher than the United States! This tells you that communicating with Filipino employees wouldn’t be a problem at all. It is also worth noting that the outsourcing industry is booming in this country, with highly-skilled and well-trained professionals joining the workforce each day. That should answer any worries you might have regarding work quality.
If you’re worried about the time difference, then you shouldn’t be. As mentioned earlier, outsourcing is a booming industry in this country and since employee leasing is simply another form of outsourcing, it is enjoying a boom as well. Staffing agencies have therefore taken to operating on a 24-hour basis, with employees working on shifts. You can be sure someone is taking care of your business round-the-clock. So, start assessing your business needs now to see if it would indeed be wise to lease staff instead of hiring in-house. If the result of your assessment points to leasing as the best solution to your needs, then don’t forget to take the Philippines into consideration in your search for the best staffing agency.