The United States is currently experiencing a surge in productivity, with outsourced solutions playing a crucial role in maximizing growth opportunities for businesses. These solutions allow companies to stay competitive in a tight labor market without the need for internal expansion. While outsourcing has been a successful strategy for many companies in the past, it has now expanded to include IT, risk management, finance, tax, and human resources.
Recent data from the Department of Labor shows a productivity growth of 2.3% in the second quarter of this year. However, hiring in the middle market has slowed down, with only 36% of executives reporting that their companies added staff in Q3. This indicates the challenges and costs associated with hiring internal employees in today’s market.
Despite these challenges, middle-market businesses are investing in growth. A recent survey revealed that 44% of middle market executives reported increased capital outlays, with more than half planning to boost capital expenditure in the next six months. As the demand for technology resources continues to rise, managed services are helping companies scale efficiently while optimizing emerging technologies such as artificial intelligence and automation.
Outsourcing strategies are becoming increasingly important for businesses to adapt to new opportunities and challenges quickly, enabling them to be more agile and confident in their personnel decisions for sustained success. Stacy Dow, RSM Partner and Financial Consulting Leader, emphasizes the value of outsourced solutions and managed services in helping companies navigate these changes.
Maintaining continuity and compliance within business processes is crucial for growth, especially with the inevitability of turnover in today’s competitive talent environment. Outsourced solutions can help companies integrate modern tactics and tools into critical business functions, making transitions easier and ensuring continued growth.
Innovation is another key aspect of successful businesses, with technology serving as a differentiator. Many companies struggle to keep up with innovation due to a lack of internal technology staff. Outsourcing or managed services can provide businesses with the technical expertise needed to leverage advanced resources like AI, machine learning, and data management, ultimately improving efficiency and security.
Overall, an outsourcing strategy offers benefits such as consistent costs, flexible resources, and improved visibility into expenses for midsize companies. Outsourced solutions and managed services allow businesses to scale up during peak seasons and adjust levels as needed, providing a level of responsiveness and agility that traditional in-house teams may not offer.
RSM Catamaran offers integrated, outsourced solutions designed to elevate businesses by alleviating staffing concerns, boosting scalability, and enhancing operational efficiency. Their team of professionals can provide the experience needed to drive organizations forward. Contact RSM Catamaran today to explore how their tailored solutions can meet the unique needs of your business and support continued growth.