No small fry
An article in the theory and practice section - a weekly look at people and ideas influencing managers - of yesterday's Wall Street Journal discusses how smaller companies are increasingly tapping offshore labor markets, as larger companies have for years. A summary of tips for managers at small firms thinking of expanding overseas:
- Locate overseas offices in regions that are home to bigger, multinational companies
- Monitor quality closely; errors can really hurt a small business
- Ensure that key executives visit frequently, and plan for the travel costs
- Offer consistent company-wide training so all workers use similar processes
- Track retention of overseas workers, as a few key departures could be crippling