As the companies continue to expand their businesses, they need more human resources. However, hiring new employees also means an addition to the overall expenses of an organization. It could be a daunting task for a company growing at a slow speed to manage human resources and costs simultaneously.
Considering the remote working scenario, effective training of new employees has become a new challenge for companies. That’s why many organizations are adapting nearshore strategies. Continue reading to know what it is and how it helps businesses!
What Is The Nearshore Strategy?
It is an outsourcing practice that involves taking necessary services (usually remote teams) from neighboring countries instead of regional countries. The most common types of services that are generally outsourced are software development, sales, and technical support.
For instance, companies established in North America or Europe often outsource software teams from Latin America. If you also wish to grow your business without expanding your in-house team, nearshore outsourcing is an ideal solution. You can search for a Staff Augmentation Latin America Company and avail yourself of benefits from various services that suit your business requirements.
Not to mention, this strategy allows your in-house team (if you have one) to work alongside the outsourced team for seamless integration. It also enables you to use frontend and backend development, data engineering, blockchain, or software testing.
Nearshore vs. Offshore And Onshore
Nearshore strategy is not the same as an offshore or onshore strategy. More often than not, entrepreneurs get confused between these three, which affects their business significantly. So, you must not make the same mistake and learn about the fundamental difference between these three.
Nearshore: It involves hiring services from “nearby” countries.
Offshore: It involves hiring services from countries that are “further away” from the parent country.
Onshore: It involves hiring services from outside the company but “within” the country.
Selecting any of the strategies typically depends upon the type of job and the company’s requirements.
How Can Nearshore Strategy Benefit Your Business?
This strategy is majorly adapted as it offers better control and flexibility to the businesses. You can get the following benefits from this strategy:
- Geographical Proximity
Outsourcing from nearby countries means the time zone of both countries is likely to be similar. It will help you manage communication problems with the outsourcing company. Plus, daily meetings, working hours, and short-term traveling become easier to manage.
Depending upon your type of job and location, this strategy can help you save money. For instance, if you outsource a software development team, you can save money on equipment deployment as well as hiring and training of staff. On the other hand, you can use the money saved to improve the functioning of your business.
- High-Quality Service
Lastly, if you’re hiring service from outside your country, you’d look for a company with years of experience and talented staff. It will ensure that you are getting high-quality service, giving you a lead over competitors.
To Sum It All Up!
With the changing business environment, businesses need to come up with unique solutions to continue working toward set goals without any hindrance. Fortunately, outsourcing can help companies to accomplish their goals. So, you must give this strategy a try!