In an attempt to combat the worker shortage, many companies are turning to nearshore BPO for answers. Find out how outsourcing is helping business owners stay profitable during these recent economic changes.
An Overview of the US Labor Market & Worker Shortage
Businesses are getting desperate for workers in the US! According to the Bureau of Labor Statistics, the number of job openings in the US rose to an unprecedented 9.3 million by the end of April 2021. And by June 2021, the number of workers voluntarily leaving their jobs rose to 942,000. But, as employees across the US demand higher pay and better benefits, many businesses are realizing they just can’t keep up.
So how does this impact industries dependent on low-wage labor? Businesses can’t fill positions, can’t afford to raise wages, and are being forced to change their operations. Employers are struggling, and as a result, their businesses are suffering.
Adjusting to Changes in our Economic System
Unfortunately for employers, this worker shortage is likely to last for years. In addition to the previously mentioned economic factors, there is another issue at hand—the number of working-age people has decreased significantly. Simply put, Gen Z just isn’t big enough to replace Baby Boomers or Millenials. With a smaller workforce, businesses may struggle to fill low-wage positions. However, they have no other option than to adjust to this secular shift in the labor market. This new transition might be difficult for the industries previously dependent on low-wage labor up until this point. So, how will businesses adjust? The answer—outsourcing. Nearshore BPO can alleviate all of these problems!
Benefits of Outsourcing Low Wage Jobs
If you’re struggling to fill entry-level jobs or lower-paying positions, consider outsourcing! Hiring outsourced agents to handle your basic tasks such as customer service or data entry offers business owners several advantages. Here are the top benefits of nearshore BPO services:
- Reduced Costs - BPO services are incredibly cost-effective for all types of businesses. You don’t have to pay employees a fixed salary or benefits. Plus, you don’t have to spend time and resources on job training. Not to mention, you’ll be paying far less than you would an in-house employee. For example, AtPoint’s services cost anywhere from ⅓ to ½ the cost of a fully-loaded US agent!
- Advanced Technology - Staying updated with the latest technology systems and products is another huge expense for companies. However, outsourcing agencies have already invested in advanced tech, so you don’t have to!
- Low Attrition Rate - While US call centers have extremely high turnover rates of 30-45%, nearshore outsourcing companies like AtPoint keep rates below 9%! This is because AtPoint hires only the best of the best applicants and pays their employees very well. So when you choose a reputable BPO company with low call center attrition rates like AtPoint, you’ll get seasoned, well-trained representatives for prices that can’t be beat.
- Saves Time - Think of all the time and resources you’ll be saving when you don’t have to worry about having employees perform basic tasks such as answering customer calls and emails! Low-paying jobs like these are simple, so let outsourced agents do it for you. This way, you can fully commit to your business and focus on assigning your higher-paying staff higher-level tasks.
- After-Hours Support - With outsourcing, you can give your customers the support they deserve—24 hours a day, 7 days a week! After-hours coverage is a great option to offer your customers, and they will certainly appreciate the convenience.
What Types of Jobs Can Be Outsourced?
Why do companies outsource jobs? The top motivators are to save money, become more competitive, and increase profits. Another factor that drives businesses to leverage external sources is expertise, as many outsourced jobs tend to require very specialized skills. Listed below are the most commonly outsourced jobs.
- Billing Services
- Customer Service
- Technical Support
- Data Entry
- Outbound Marketing
- Statement Production
As you may have noticed, many of these jobs would constitute low-paying positions in the US. And with the dwindling workforce, nearshore BPO services may be the perfect solution for companies struggling to keep up with recent economic changes.
AtPoint Outsourcing Helps Businesses Combat Labor Shortage
If you’re looking for a way to maintain customer satisfaction and profitability in the face of a labor shortage, look no further. AtPoint is your solution for technical support outsourcing, customer service outsourcing, and much more. We deliver world-class customer support with innovative solutions tailored to your organization while ensuring efficiency, quality, and accuracy.
Contact us today to learn how your business can benefit from outsourcing!