In-House Expertise No Longer Worth It, Executives Say
A new study from Canadian business advisory firm Richter reveals that the majority of business executives don't believe hiring in-house expertise is worth it, particularly within niche areas.Â
In the document, called "The Canadian BizHealth Report," Richter surveyed 500 senior executives. Besides not recommending in-house expertise, 52% of participants believed outsourcing for specialized expertise would become a growing trend in 2013.
Of the surveyed businesses, 71% said one of their biggest challenges was recruiting superior talent, while 77% said another challenge was finding a support team that could keep up with an entrepreneurial pace.
Mitch Silverstein, a partner at Richter, said the company is seeing "an entrepreneurial psychology taking over both the youngest and oldest generations in today's workforce: They are embracing the mind-set of 'Why should I work as hard as I can so other people can make money?' They want to be their own boss, and they are OK with the risks that come with that move."
The article In-House Expertise No Longer Worth It, Executives Say originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.