What are Co-sourcing Services?
Co-sourcing is a new spin to traditional outsourcing. It can even be thought of as an international Professional Employer Organization (PEO) service, just a little bit extra. Co-sourcing was created to address the pain points in both traditional outsourcing and International PEO models. Co-sourcing is the closest companies can get to creating their own offshore subsidiary at a scale that makes sense for them.
Services: payroll, tax, insurance, benefits, compliance, IT support, HR, recruiting, co-management support, facilities, turnover co management
Strengths
- Access to global talent
- Ability to start at any scale
- Maximum control, visibility, and flexibility
- Easily scalable
- Some of the management cost is shifted
- IT and facilities support
- Co-management to help ensure success
- Month to month, flexible contracts
Weaknesses
- Initial training and management involvement
- In this model there is more involvement required, than a traditional outsourcing model, from the client at the start to ensure success.
- Turnover Risks
- Turnover is still a felt challenge for the client in this model. It is alleviated because of vendor support but still exists.
Co-sourcing allows you to have a partner who will work with you to improve the bottom line and unlock business growth. With Co-sourcing you have dedicated team you can utilize. You have 100% visibility and control and supervision of the structure, training, activities, and deliverables of the dedicated team. This follows for customizing productivity metrics to fit your preferences or requirements. Read more on co-sourcing in our previous article.
Connext Global Solutions helps companies build custom, dedicated support teams in the Philippines.
Co-source with Connext today.
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