For many Australian and New Zealand small businesses, the idea of expanding their team overseas might seem daunting, but a volatile business environment with rising cost pressures may leave offshore expansion as the only option to survive. Recently, I have realised the benefits of a new approach called “right shoring” and I believe it’s the key to success in today’s small business market.
We’ve all been conditioned to think that small businesses have to be local, but with rising costs, increased remote working models and ongoing globalisation, right shoring is no longer a ‘maybe,’ it’s a must-have for businesses that need an edge to get ahead.
Unlike traditional offshoring, which focuses solely on cost savings, right shoring prioritises the “right” location for specific tasks. This means that business operations could run over a combination of local in-house and offshore facilities, with access to a global talent pool to ensure the best staff. Locations for various divisions or parts of the supply chain aren’t just based on labour costs, but also skill availability, infrastructure, proximity to major markets, domestic regulations and cultural compatibility.
Here are three actionable steps to help integrate a right shoring strategy into your small business.
- Think beyond borders: Take advantage of video conferencing and project management tools to facilitate smooth collaboration in remote work settings. Numerous applications are available for free, so it’s advisable to explore your options through research. Moreover, consider researching programs and organisations that source talent in regions with compatible time zones and essential skill sets.
- Embrace remote work culture: Establishing a robust remote work culture hinges upon fostering transparent communication and maintaining consistent check-ins. One effective strategy is to incorporate daily “work in progress” meetings into the routine to ensure alignment among team members and enhance collaboration. These meetings serve as pivotal touchpoints where progress updates are shared, challenges are addressed, and objectives are clarified. In order to thrive in a remote work setting, it’s crucial to maintain a constant awareness of its nature and tailor your approach accordingly.
- Leverage AI for enhanced efficiency: Utilising artificial intelligence (AI) tools presents an opportunity to streamline operations by automating mundane and repetitive tasks, freeing up valuable time and resources for your team to dedicate towards more strategic endeavours. By incorporating AI into your workflow, you can optimise efficiency and productivity, enabling your team to shift focus towards tackling complex challenges and innovating new solutions. Embracing AI not only enhances operational efficiency but also empowers your team to deliver higher quality, ultimately driving greater success for your organisation.
Right shoring: a win-win for businesses and employees
The advantages of right shoring extend far beyond financial considerations, encompassing numerous human-centric benefits. This approach not only presents opportunities for Australians but also facilitates global connectivity and collaboration. Picture a scenario where a salesperson from Australia engages with potential leads in foreign markets, leveraging the flexibility afforded by remote work.
Right shoring promotes diverse thinking and encourages the integration of a broad spectrum of perspectives, enriching team dynamics and fostering innovation. It’s not merely about cost savings; it’s about cultivating a vibrant and inclusive team culture that propels your business forward amidst the complexities of a globalised landscape.
