Creating Stability in The Great Resignation with Co-Sourcing
The article aims to discuss the importance of Co-Sourcing during the Great Resignation.
In 2021, more than 47 million workers quit their jobs. “The Great Resignation”, as it is coined, has greatly disrupted the labor market landscape.
4.3 million Americans also quit their jobs last December 2021, down from the record 4.5 million in November, according to the Bureau of Labor Statistics.
Primary drivers of the Great Resignation include loan pardons, [COVID-19] pandemic relief checks, people beginning their own startups, looking for higher pay scales, and demanding flexible work environments.
People management, staff retention, and digital transformation are just some of the concerns businesses are facing. Coupled with high talent shortage, staff retention and high attrition rate brought about by the Great Resignation, businesses are now looking at ways to attract talent and at the same time provide sustainable work.
In fact, 1 in 4 startups plan to hire remotely in less expensive markets and the majority (78%) will maintain a fully remote or hybrid working model this year.
Remote and hybrid work models are the future models of work with its flexibility.
The challenge of solving the in-house skill gap problem can be easily remedied by offshore talent working in a remote and hybrid workplace.
In a tight labor market, Co-sourcing allows you a wider reach, which is access to the global talent marketplace, and more.
Co-sourcing, also known as remote staffing, addresses the need for sustainable growth.
Through Co-sourcing, businesses can build a dedicated captive team based offshore through an established remote partner. These remote offshore teams closely work with inhouse teams and are essentially an extension of the team.
Aside from having a dedicated team to work alongside your internal team, the Co-sourcing is also cross-functional. Depending on the staff and need of the organization, if you are a Healthcare Organization in need of Credentialing Specialists, Medical Claims Processors and Medical Billing Specialists, on top of these functions, you can build a cross-functional team of:
- Virtual Nurses
- Certified Public Accountants
- Customer Experience Professionals
- Administrative Assistants
- Web Developers
- Data Analysts
- IT Help Desk or Service Desk Support
- And More
Working with a Co-sourcing partner allows the business access to outsourcing support tailored to their talent requirements, business processes, pain points, and concerns. The partner ensures that the client needs are properly addressed and offers appropriate solutions, alternatives or better recommendations to further improve current business processes.
Connext Global Solutions handles customer service outsourcing talent acquisition, management, and training. At Connext we allow clients to start with as little as 1 full-time employee and scale as they see fit. Clients can build, train, manage their offshore based on the current need and adjust – scale up or down, as they go along.
Connext Global Solutions is building industry best customer service experience through its commitment to management philosophy and leadership development at all levels.
Here are some data to back this up:
- 60% Client’s Average Cost Reduction
- 98%Work Retention
- 100%Client Retention Rate
- 6+ Years handling Information
- 0 Information or Security Incidents
Connext Global Solutions helps manage a client’s team as if it was theirs and makes sure the performance matches or exceeds that of your local teams, allowing the client to own what is most important and unique to the business and unlock business growth.
Connext Global Solutions provides fully customized co-sourcing solutions for organizations looking to innovate and grow. Co-source with Connext Global Solutions today.
