28% of enterprises in various industries turn to outsourcing as a COVID-19 survival tactic.
Traditional business models and operational tactics have come to a halt due to the pandemic. The mission for companies today is to adjust their methods not just to survive the changes due to COVID-19, but to prepare for a post-pandemic world. It seems like many of the changes initially adopted as a survival strategy, such as remote-work setups, are now here to stay.
Outsourcing builds an enterprise’s agility and resilience, especially during COVID
Close to one-third (28%) of companies in the UK have turned to outsourcing as a primary strategy to combat various lockdowns and restrictions. Research from Opinium and LiveArea show that IT and marketing are the top industries that have outsourced as a response to the pandemic — at 37% and 32%, respectively.
Outsourcing and other long-term strategies emerge due to COVID
Elliott Jacobs, LiveArea EMEA commerce consulting director, provides insight on the changes in business methods and strategies. He says that, “Although the pandemic is ongoing, we are beginning to see long term businesses strategies emerge, primarily the widespread shift to agility and digital. Outsourcing not means businesses can scale if needed, but also bring in new capabilities and fresh thinking quickly and efficiently.”
The good thing is that the pandemic has forced enterprises to come up with innovative solutions that may be better for the long-term. He explains that, “Businesses across the UK will need to completely rethink their businesses. As no one can fully understand the implications of Covid-19, companies must invest in adaptability and resilience. Fundamentally, this means developing the ability understand market changes and react instantly. Only then can brand cope and even flourish in a post Covid-19 economy.”
Change is inevitable. How businesses respond to change is what sets a winning company apart from the others.