Working within the marketing world as a creative person responsible for getting the work done can be very unpredictable. Client expectations drive the workload and the resources necessary to complete the projects.
These variables, along with allotted budgets, are constantly shifting. When revenue scales back or, conversely, find yourself having to manage a windfall due to a new client or project, it is time to assess whether you have the resources at hand to complete the work. If you find yourself understaffed, determine the relationship these variables have to each other to arrive at a financially sustainable model. The revenue component is critical because all too often, there may be too much work for one person (team) to handle, yet not enough revenue to justify adding another full-time employee. This scenario may be a good time to outsource. It can provide the flexibility needed to weather the peaks and valleys without prematurely committing to a Full-Time Employee, enabling you to buy time until it makes more sense for a permanent solution. Following are a few points to consider when deciding whether to outsource or take the plunge and add headcount to your staff.
- Assess whether the new influx of work has a long-term impact on the workflow, and if so, is the revenue tied to the work more than double the cost of an annual salary for that particular role?
- If the work is a short-term need, find a creative partner that fits within the parameters of the budget allotted to the project.
- The more experience the creative person has, the higher the cost, so it’s important to align the need with the level of expertise necessary to deliver results.
- Once you’ve established a relationship with a trusted creative partner and they’re working on multiple projects, keep an eye on the total revenue tied to the aggregate of all projects. Once the amount nears twice the cost of what it would take to support an FTE and if the work is sustainable, consider it may be time to bring the work in-house.
I certainly haven’t covered all the points, but this type of assessment will point you in the right direction and ensure that you have a plan to help you differentiate between a good time to outsource and the point when it makes the most sense to bring those resources in house.
