4 Trends Driving Institutions to Explore Outsourcing
In the digital age, speed is everything. Global competition, evolving client needs and innovation demand it. In recent years, more institutions have been motivated to explore alternative ways to manage their talent requirements, using outsourcing as a means to right-size teams and navigate a radically shifting business landscape. This is true across all industries, including real estate, where outsourcing is helping counter some of the liquidity challenges that typically plague the asset class. Here are four drivers that are motivating firms to consider the outsourcing of talent.
Driver #1 - The Need to Scale Quickly
Long procurement processes, rigid budgetary practices and defined hiring processes can impair an institution’s capacity to scale talent quickly in response to a market dynamics. Outsourcing of talent provides a means for firms to right size their teams more fluidly in response to opportunity.
Driver #2 - Technology
Technology is creating both opportunity and disruption. Organizations must embrace flexible business structures that allow for agile changes in staff size, composition and skill sets to accommodate technology as it evolves.
Driver #3 - Rising Talent Costs
Today, most institutions are based in high-cost urban environments with expensive talent and overhead. Through outsourcing and remote teams, savvy institutions are leveraging lower-cost environments to drive cost efficiency.
Driver #4 - A Return to Core Competencies
With increasing global competition, institutions are focusing resources on their core competencies that create unique value for clients. Outsourcing commoditized aspects of normal business execution facilitates this strategy.
Since 1990, SitusAMC has helped clients scale their real estate businesses through bespoke talent solutions, including staffing and managing client teams, as well as building dedicated platforms that operate as a seamless extension of our client’s business. We leverage our deep connectivity to the industry to find and secure the best talent our clients need to run their businesses more effectively and efficiently. Our model helps our clients scale up or down based on business needs while allowing for complete control over the work product.
For more information on SitusAMC's Talent Solutions, click here.