Let’s get one thing out of the way. The term “labor shortage” is a bit of a misnomer. If you search “labor shortage” or “worker shortage,” you’ll find pages and pages of articles describing the huge number of unfilled positions currently available.
While they’re not technically wrong, they’re only telling half the story. The real issue isn’t that there aren’t enough workers to fill positions, but rather, those searching for jobs aren’t content with their options or aren’t receiving job offers.
According to a recent article by the Washington Post, there are currently 8.4 million Americans who are unemployed. Meanwhile, there are around 10 million jobs currently up for grabs. So while statistically there are more job openings than potential employees, there are more than enough available workers to fill the vast majority of those positions. Surveys conducted by the Pew Research Center showed that 66% of Americans “seriously considered changing their occupation or field of work” after losing their jobs during the pandemic.
For many companies, perhaps even your own, this has led to a labor crunch as the economy has roared back and growth has spiked. Outsourced work can help you beat the labor shortage, scale your team quickly and efficiently, and fuel your company’s growth. Here are the top 8 reasons your company should invest in a Business Process Outsourcing (BPO) Partner.
1. Quickly Scale Up Your Workforce
Having the ability to quickly increase the size of your workforce is absolutely critical during periods of intense growth. Discovering and onboarding employees with the right skills and experience—while staying within budget—can take up valuable time. Then you have to hope that they continue working with the company long enough for your investment to pay off. These problems are only compounded by the labor shortage.
Consider the three following scenarios:
- Your company is seeing growth and expects that trend to continue, and your current support teams are currently keeping up.
- Your company has grown to the point that your current support teams won’t be large enough to sustain for much longer.
- Your company has grown to the point that your support teams are well beyond their capacity.
The first scenario is the optimal time to begin investing in an outsourcing partner to increase the size of your workforce. If you find yourself in the second or third scenarios, you need to act quickly to ensure customer satisfaction doesn’t plummet and subsequently stunt your growth.
The benefit of partnering with an outsourcing company is access to additional qualified support staff as your team needs them. At ProximoCX, we offer customer service, sales support, and tech support services that can scale alongside your company to ensure your customers are always receiving the support they need and deserve. This allows you to ensure that your existing support teams don’t become overwhelmed, and it allows us to grow alongside your company.
2. Stay Within Your Budget
As we briefly mentioned earlier, hiring new employees is a costly and time-consuming process. Not only do you have to grapple with the costs associated with onboarding new employees, but you also have to account for the cost of allocating space and providing a workstation for them. Even if you opt to hire remote workers, you may have to provide a workstation to mitigate the security risks associated with allowing employees to connect to your servers with personal devices.
Unsurprisingly, the labor shortage is causing hiring costs to increase. According to labor market research conducted by The Federal Reserve Bank of New York, the lowest wage an individual in the U.S. would be willing to accept to take a new job increased by 7% on average between July of 2020 and July of 2021. When segmented by education level, the reservation wage of workers without a college degree increased by nearly 12% during that same time period. If the current labor shortage continues, the reservation wage could continue to increase.
For many companies, this sudden increase reduces the number of employees they’re capable of hiring while staying within their annual budgets. This is an issue that can be mitigated by partnering with ProximoCX, an outsourced BPO partner. Our primary operations center is only 20 minutes south of the San Diego International Airport. Since the cost of living in nearby countries is significantly lower than in the United States, choosing ProximoCX can provide you with the workforce you need at a much lower rate than what U.S. outsourcing partners can offer.
3. Maintain Security Compliance
Complying with security and privacy standards is a non-negotiable aspect of business, and there’s no room for taking shortcuts or cutting corners. While the standards that each company needs to comply with varies by industry, HIPAA and PCI are two of the most common security and privacy standards in the U.S. HIPAA laws provide regulations for dealing with an individual’s health information. On the other hand, PCI standards are concerned with financial information. Breach of any security or privacy standard can result in fines and carries the potential for litigation depending on state and local laws. Worst of all, it will have a major impact on the public’s trust in your company.
Luckily, many outsourcing companies have measures in place to ensure customers’ information stays confidential. At ProximoCX, we comply with both HIPAA and PCI standards to ensure the highest level of privacy and safety for your customers.
4. You’ll Gain Access To A Wider Talent Pool
One of the major downsides of hiring during a labor shortage is having to pay a higher wage for under-qualified employees. This, in turn, means you’ll have to provide them with more training and hope they’ll catch on quickly so that your customer satisfaction levels don’t take a hit. While the United States is experiencing a labor shortage, the same cannot be said elsewhere. So, while the labor force is redefining itself, you have the golden opportunity to partner with a nearshore outsourcing partner.
ProximoCX has access to a wide pool of professionals specializing in sales, customer service, and even tech support. When you partner with an outsourced BPO like ProximoCX, you won’t have to settle for less qualified customer representatives. We believe in helping our team members grow alongside the company—meaning that their training is never truly done. We utilize the latest AI and machine learning programs to constantly identify ways to improve. This allows our customer representatives to continuously improve your customers’ overall experience and satisfaction.
5. ProximoCX Eliminates Cross Culture Gaps And Mitigate Language Barriers
In the U.S., Spanish and English are the most common languages spoken, and if you outsource to an area where those two languages are uncommon, you’re destined to run into communication issues between customers and representatives.
American culture is also vastly different from non-western nations. This is why two of the largest problems that U.S.-based companies face in the global outsourcing market are language barriers and the culture gap. These problems can leave your customers feeling frustrated and misunderstood. This in turn will increase customer attrition and reduce their level of loyalty to your brand.
Partnering with a ProximoCX can help you reduce both the culture gap and language barriers that can have a negative impact on customer satisfaction and retention.
At ProximoCX, we’ve been cognizant of the drawbacks these issues can have on your company, and we’ve been proactive in taking steps to mitigate them. Our company is based in the U.S., and we place a strong emphasis on facilitating traditional American culture and values into everything we do. To reduce language barriers, we’ve hired representatives who are fluent in three of the largest languages in the Americas: English, Spanish, and Portuguese. Our professionals are ready to connect with your customers at a level they’ll understand and appreciate.
6. You Can Give Your Specialists The Flexibility They Need
If your company is experiencing growth during a labor shortage, one issue you’re going to run into very quickly is employee strain. If you’re unable to bring in additional labor, your specialists will have to take on a larger workload and potentially fill gaps in areas that aren’t their core competencies. This can cause burnout, reduced productivity, and lower quality work.
When you partner with a nearshore outsourcing partner, it allows you to take the extra work off of your employees’ plates. Your specialists will get to focus on putting their time and talents into accelerating your business’s growth.
7. You Gain Access To Representatives In Your Time Zones
During your peak business hours, you need representatives who are alert and prepared to offer the exceptional customer experience your customers expect. Due to their proximity, this is one of the advantages that ProximoCX has over off-shore contact centers.
Since our primary contact center is located just 20 minutes south of San Diego, California—in Tijuana, Mexico—we’re able to mitigate the risks associated with relying on a workforce that operates in dramatically different time zones. Your peak business hours are our peak business hours. Our customer service, help desk, and tech support representatives are available to assist your customers 24/7/365 when needed.
8. You Get To Partner With Like-Minded Professionals
One of the major benefits of partnering with a nearshore CX partner is that your goals will be aligned. Your business thrives when your customers are satisfied with the service they receive, and in turn, we thrive when you’re satisfied. When you enter into a partnership with ProximoCX, it’s a mutually beneficial relationship.
As we loosely mentioned earlier, we have the technology, resources, and expertise needed to ensure your customers receive best-in-class service from our representatives. You won’t have to worry about quality control. We have that covered. Our team members always receive the feedback and resources they need to continuously enhance the experience your customers receive.
Don’t Let The Labor Shortage Stunt Your Company’s Growth
The current labor shortage in the United States could last for some time, and we have no way of knowing how soon the market will stabilize and return to normal. But if your company is growing, or anticipates a season of growth, waiting to increase your workforce isn’t an option.
Whether you’re looking to bolster your existing teams or outsource a business process in its entirety, ProximoCX is ready to help your business scale up its workforce while keeping costs within budget. We offer a full range of services including sales support, customer service, tech support, content moderation, and more. Contact us today to discuss a custom business plan and receive a free quote.