How many things are you doing in your business that could be handled by another organization that specializes in just that task and does it better than you ever will? By insisting on handling it yourself, how much time do you waste and, more importantly, how much risk are you taking? Just think about milk and the cow for a moment. The cheapest way to get milk is probably to own a cow, milk it yourself and cut out the distribution chain entirely. But unless you are a farmer, it is something that is way outside your core business and a learning curve that may never repay your investment. | |
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The prize for the “worst single waste of time for a business” must go to those who handle payroll internally rather than outsourcing it. Payroll is the ultimate commodity where, for a miniscule outlay a month as a percentage of payroll, you can offload a complex, time consuming task. | |
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One of the easiest and most important things to outsource is COBRA administration. Not only does it meet my VICE criteria, but it is something that carries a big potential liability and can create significant discord in the workplace. | |
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