TONY MADDEN: Why Investing in Human Capital Yields Amazing ROI
In this episode with Tony Madden, Director of M-Advisory Group, we talked about his offshoring journey that started with the need for a stable workforce. Now four years into the industry and 50 staff (25 offshore later), Tony shares important insights learned along the way: from choosing your BPO partner carefully to getting buy-in from your onshore staff to implementing employee retention strategies globally.
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- The talent shortage: what started our offshoring journey
- Why offshoring worked for us versus outsourcing
- Investing in employee retention
- Biggest myth/objection with offshoring
- KPIs and the confidence in managers
Finding local talent is hard. In the suburbs, it’s a hit and miss. They eventually leave for the city. We started outsourcing so we can have a more stable capacity.
With outsourcing, you don’t have that direct control and contact, don’t know how the work will come out after, and staff might leave after 2-3 years. With offshoring, we are more stable capacity-wise and have more control.
To engage a BPO you should go with one that understands your professions/service, so they can better manage the talent needs.
On starting your offshore journey:
The culture thing is the biggest one. I suggest you take a trip and experience the facilities yourself. Make sure the staff are looked after. Bring one or two onshore staff with you and make them the gatekeepers.
The loyalty and quality of what you get from the Philippine staff are amazing. It’s also a win-win for your onshore team because they start to see the vision – they are now able to do advisory work. You get buy-in from both sides.
Treat your offshore staff the same as your onshore staff. Providing them the respect will pay dividends. Treat the whole exercise as an investment strategy rather than a cost management strategy.
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