Every CEO wants their projects done fast, good, and cheap. This is the ‘holy grail’ of successful project management and something that often eludes executives at every turn. There’s a false belief that you can’t have all three, no matter how hard you try.
I’m here to tell you that you can…
The main key to cracking this code is to find the right people. Someone that performs at a top quality level, works quickly, and doesn’t charge a lot. Sounds great, right? Definitely! But how to accomplish it is another question…
For years, outsourcing was hailed as a solution to this problem (at least for the ‘cheap’ portion of it). Unfortunately, traditional outsourcing is notorious for having more problems then it’s worth. Quality tends to be terrible. Timeliness is typically non-existent. And to be honest, it rarely (if ever) works.
So, why does traditional outsourcing typically fail?
The real problem with outsourcing is that it’s based on a flawed premise. When you outsource to a company or team, there is little to no control over who is doing the actual work on your project. You have no control over hiring or firing. You have no idea how a candidate was (or if they ever were) properly qualified. They have no connection to you, your team, and your vision. And most importantly, there’s no guarantee the entire team won’t walk away tomorrow. Believe it or not, it does happen!
When I first started working with overseas over a decade ago, we worked with outsourcing companies. Twice (in less then 8 months), two companies we were working with had their entire teams leave to go to other companies for pay increases. Quality (which wasn’t that great to begin with) plummeted in both situations in less then 24 hours. We had no idea why. The company wasn’t telling us the truth. And the only way we found out was because we had our own people on the ground that knew what had happened. It was a real shocker when critical parts of our projects depended on them.
Needless to say, I started thinking twice about outsourcing ever again.
So after that experience, how and why do I run an overseas recruiting firm? Well, I found the reason for the failure was simply because outsourcing itself was based on a fundamentally flawed premise. Just the idea of shipping work ‘out’ to some foreign land to unnamed people doesn’t really foster a strong sense of team work, dedication, or commitment to quality, vision, and mission either. So I tried something new and flipped the premise on its head over a decade ago. And my commitment to ‘insourcing’ was born.
Insourcing, the only outsourcing that works!
Insourcing is an approach that takes the best parts of outsourcing, tosses the worst parts, and looks to build a ‘win-win’ for everyone (both companies and overseas counterparts alike).
The difference with ‘insourcing’, is that it’s focused on bringing someone ‘in’ to your company (in a work-from-home model) instead of shipping work ‘out’ to them. The reason we take this approach is because there is a distinct difference in performance, dedication, longevity, and quality when you have someone who is truly committed to your team and mission compared to someone who isn’t.
Also, by hand-picking and recruiting the best talent available, you naturally side-step the ‘quality’ and ‘timeliness’ issues. Let’s face it, you’re never going to hire someone that isn’t good or fast. And we make sure of it by doing multiple tests (including timed tests) prior to actually making an offer.
By matching top skills, performance, and personality with your companies needs… we find the best talent available at a fraction of the cost. Check out the differences below:
So not only can you have major cost savings (with the average full-time hire costing approx $1k/mo), you find someone that personally becomes a part of your team, your mission, and your vision. Now, I’ve heard many people question whether or not corporate culture will suffer as a result of having someone working remotely. In fact, in ten years of running remote global teams myself, I’ve found that it only helps expand corporate culture by connecting people across the world. Let’s face it, most companies are aiming to perform at a global level anyway, so it’s a great proving ground for future growth.
So that’s how we’ve cracked the good, fast, and cheap code. We’ll share more next time about which positions you can actually hire best overseas. Believe it or not, tech is not even at the top of the list! Stay tuned for more soon…