When in business there is always that temptation to cut your costs and try to do everything yourself. Now there are times when you can do some things for yourself, but it is not always the case when there is a task that just needs expertise. Some CEOs, Managing Directors or Managers might just be tempted to cut the corners and ask their employees to do it when the employees are not qualified enough and have no experience to do the job, the result can be something out of a business “Not to do list”. We have put down 5 reasons why as a business it pays to hire an expert. There are different areas that companies try to cut costs such as decisions in hiring a marketing expert, a procurement expert, programming expert, project management expert, training expert, audit or forensic expert and so many other areas of expertise.
1. It is Cost Effective
Contrary to belief hiring an expert does cost money in the short term however in the long run it saves you on money. There is nothing as irritating and as costly as having to try and rectify a mistake that has been made. The first thing is that it will cost you when hiring the wrong person and then it will cost you more when hiring the right person to fix the what the first person did wrong. So not only are you now paying double but you are paying for something that you could have dealt with before. It is better to compare expertise costs than to neglect the services of hiring an expert. Consultants do no always come cheap however the service will save you on expenses in the future
2. You save time
When you decide to DIY there is always that learning time that has to be spent. People take time to figure not the problem but how to get the skills to solve the problem. Before hand they would have spent time trying to understand the problem, then they will start looking for solution. Normally shortcuts always higher more shortcuts. Because someone is not an expert they end up looking for different solutions that are not necessarily effective for solving the problem. For example if you buy an ERP software, get the right experts to help you set it up even if it is opensource. Get someone with the right knowledge to do it.
3. Benefit From Experience
An expert may charge you handsomely, but if it s the right expert you are paying for experience and the best possible solutions. Doing it yourself is okay, but when you are dealing with technical issues it is best to get the right experience. Within the job itself you may get more advice on how to improve things. A company may have a fleet of cars, and may choose that it is more cost effective to turn one of their gardeners into a mechanic because he knows “his way around” As much as the new gardener mechanic knows how to change the spark plugs he may not be versed with the intricate parts of the cars and sooner than later, he will stumble on to problems that need real expertise, but because of the pressure to fix the cars to impress on the new promotion, he will find shortcut solutions. Experience is a database of knowledge and we need that database for success.
4. Builds your professional standards
You are in business to provide the best solutions for your clients, so why not hire the best or competent people to ensure that you can provide the best that you can. How would KFC fare if it did not hire professional experts on service time management for serving food? Hiring someone who is trained in six sigma builds your professional reputation for demanding the best for your business. It keeps your standards high. Your employees, suppliers and partners judge you by how you maintain your business, the people you hire and the service you provide, If they see that you are cutting corners in who you hire and what you use for maintenance then it will say a lot about what you are about.
5. Builds your network
When you hire experts, your chances of building on your network are higher. Experts have more interaction with different industries and hence they will have legitimate valuable links in the industry. It may cost you but it may be more rewarding. Hiring someone who is qualified for a specific job such as procurement will increase your benefit and reduce your costs. A good procurement resource knows the best suppliers and hence the chances of you losing time and money on bad products or wasted lead time delays or any other procurement delays that may exist. A good consultant can link you up with other consultants or experts for specific needs that you may have, and hence save you on money and other mishaps.
Yes it may be expensive to hire an expert but it is cheaper than hiring someone without the knowledge for expertise tasks.
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