Companies looking to expand their products and services have two options to meet growing labor demands—take the extra work in-house or hire a third party. Using internal resources to complete a task or project is called insourcing and finding another company to fill that need is outsourcing. Essential functions like IT, customer service, marketing and candidate recruitment can be insourced to existing employees or outsourced to third-party companies. Insourcing and outsourcing have their advantages and disadvantages.
What is Insourcing?
Insourcing utilizes an existing employee or department to achieve a company goal or objective. For example, a company might want