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Global Team Integration Bonus: A Key to Gaining Onshore Buy-In and Accelerate Offshoring
Accounting
Global Team Integration Bonus: A Key to Gaining Onshore Buy-In and Accelerate Offshoring
Offshoring is becoming a crucial strategy for firms in the present landscape. Firms are opting for this option with the aim of optimizing costs, accessing global talent, and improving operational efficiency. But amidst all this, the biggest challenge that firms face in implementing a successful and proven offshoring initiative is gaining buy-in from onshore teams. From this, the concept of a Global Team Integration Bonus comes into play. Now, you are curious to know what this is.
Let’s explore this further!
Understanding the Global Team Integration Bonus:
The Global Team Integration Bonus is a strategy chosen by onshore employees to actively participate in and support offshoring initiatives. It focuses on the way onshore team members integrate with their offshore counterparts. On a better note, we can say it focuses completely on the contribution to the overall success of global operations with the integration of onshore employees and offshore staff.
Why Global Team Integration Bonus?
1. A Driving Force for Change:
As the saying goes, "Whatever Owners/Partners are doing should be done by Managers, and Whatever Managers are doing shall be done by Associates." Implementing a Global Team Integration Bonus can be key to mitigating the onshore staff buy-in challenge. Offshoring is a big leap - sweeten the deal with a Global Team Integration Bonus that keeps the team motivated, monitored, and on track.
2. Improves Perception:
The rationale behind including offshoring in the Global Team Integration Bonus is to emphasize that building buy-in from the onshore team is critical for the success and scalability of offshoring initiatives. By doing so, we dispel the perception that offshoring is solely a cost-saving measure. Instead, it's positioned as a long-term strategy that benefits the firm holistically, including the onshore team.
3. Collective Participation:
This bonus structure ensures everyone feels involved and valued in the process of offshoring. It creates a sense of shared responsibility and ownership across all levels of the organization.
4. More Buy-In:
Get everyone on board with this vision. A Global Team Integration Bonus that rewards these efforts will build strong, firm-wide support. It aligns individual goals with the company's global strategy, making the transition smoother and more effective.
How to Motivate Onshore Staff to Push More Work Offshore?
MYCPE ONE SUGGESTS 6 E’s TO MOTIVATE STAFF FOR OFFSHORING
Step 1: Envisioning: Conveying Vision & Building a Road Map
Share a clear vision that includes offshoring as a strategic part of your firm's growth. Based on our experience, we've found that when staff understand the 'why' and 'how' behind offshoring, it aligns everyone's efforts and builds trust in the journey ahead.
Step 2: Easing: Dispelling Fears/Anxiety of Job Insecurity
Address job security concerns head-on. Let your team know that offshoring routine tasks opens doors for them to tackle more complex, fulfilling work that can lead to career growth. Reassure them that their roles are evolving, not disappearing.
Step 3: Explaining: Clarity on Roles of staff Onshore & Appointing Onshore Anchor
Define roles clearly so that onshore team members see offshore staff as an extension of their own team. An onshore anchor can act as the bridge, ensuring smooth cooperation and effective knowledge transfer.
Step 4: Expanding: Integrating Offshore Staff
Here, you start building merit around offshoring and start with one department to integrate offshore staff and show tangible results. This can set a successful example and build confidence across the firm to gradually expand the practice.
Step 5: Encouraging: Onshore Staff Bonus Policy
Develop a collective productivity measurement system that reflects the contributions of both onshore and offshore teams, and then encourage onshore staff to embrace offshoring by linking it to your firm's bonus policies.
Step 6: Evaluating: KPI Tracking, Review, and Course Correction
Implement KPIs that reflect the quality and quantity of work offshored. Regularly schedule reviews with onshore and offshore teams to discuss progress, tackle any issues, and make strategy adjustments. This will reinforce the win-win nature of offshoring.
How You Can Build A Successful Global Team Integration Bonus for Onshore Staff?
Metric Mix: A firm can use a combination of various metrics to form a bonus policy for onshore staff. Remember, these same matrices can be used to track the firm's offshoring! Some of these metrics can be:
No. of Engagements (Clients/Projects/Tax Returns): Counts how many clients, projects, or tax returns an employee manages, showing their workload management.
% Collective Productivity (Onshore & Offshore) (No. of Hours): Measures combined productivity of onshore and offshore teams in hours, indicating teamwork effectiveness.
% (Actual Hours Offshore/Total Hours Capacity Offshore) (No. of Hours): Shows how much of the offshore team's available capacity is used, highlighting their efficiency.
% (Actual Hours Offshored/Total Worked Hours) (No. of Hours): Represents the share of total work hours that are pushed offshore, assessing workload balance.
% (Actual Hours Offshored / Budgeted Hours Offshored) (No. of Hours): Compares actual offshoring hours to what was planned/targeted.
Budget vs Actual (Revenue/Profits): Compares projected budget figures with actual revenue or profits by offshoring.
% of Work Offshored (No. of Task/Clients/Hours): Indicates the proportion of tasks, clients, or hours assigned offshore out of the total portfolio.
End Client Interaction (No. of Clients): Tracks the number of end clients with which offshore employees have direct interactions.
Few Things To Consider While Implementing Bonus Policy
Possible Scenarios:
1. One to Many (One Onshore staff manages More than One Offshore staff)
2. Many to One (More than One Onshore staff works with One Offshore staff)
3. One to One (One Onshore staff manages One Offshore Staff)
4. Many to Many (No. of Offshore staff works with No. of Onshore staff)
Convey that the more work done offshore, the more bonus there is. Ultimately, some staff would be able to manage more staff. (More is the bonus for them, and it should be presented as a case study)
It can be Monthly, Quarterly, or Yearly.
KPIs Implementation & Tracking % of Work Moved/Task Done or % of Staff Offshore. (Periodic Review)
This can be based on the Book of Business/Hours/No. Of Projects/No. Of Clients, etc. (But needs to be reviewed from time to time)
Celebrate Success & Sunshine Failures.
Benefits Of Implementing A Global Team Integration Bonus
1. Accelerated Offshoring Process:
Firms can cut down on the amount of time it takes to shift work and procedures to offshore teams by providing incentives for onshore teams to actively participate in the offshoring work. This acceleration may result in more cost reductions and more rapid operational efficiency.
2. Improved Knowledge Transfer:
The incentive that comes with the bonus makes onshore staff members more ready to volunteer their knowledge and experience, which helps to prevent important data from getting lost during the move. This facilitates handover and helps uphold quality standards for all global operations.
3. Enhanced Team Cohesion:
The bonus promotes cooperation and cultural competency, which lowers barriers between teams working remotely and those located onshore. This promotes a feeling of cohesion and a common goal, which enhances global cooperation.
4. Reduced Resistance to Change:
Employees onshore may initially be resistant to offshore, but this opposition can be addressed by providing financial incentives for a successful integration. Instead of portraying the task as a danger to job stability, it reframes it as a chance for growth and development.
5. Continuous Improvement:
A culture of continuous improvement that benefits the entire firm is promoted by the bonus structure, which incentivizes further efforts to optimize operations around the globe.
Challenges and Considerations
While a Global Team Integration Bonus can be highly effective, it's important to be aware of potential challenges:
1. Balancing Individual and Team Metrics:
Make sure the bonus plan doesn't unintentionally encourage unhealthy rivalry or jeopardize teamwork.
2. Avoiding Perception of Favoritism:
To avoid any impression of favoritism toward specific team members or responsibilities, be open and honest about the processes involved in determining and awarding bonuses.
3. Maintaining Long-Term Motivation:
As the outsourcing project progresses, assess and tweak the bonus structure on a regular basis to keep it interesting and challenging.
4. Cultural Sensitivity:
Be aware that various cultures may view bonus structures in different ways. A team may not be motivated by the same things that inspire another.
Conclusion
A well-designed Global Team Integration Bonus can be a powerful tool in gaining onshore buy-in and accelerating the offshoring process. By aligning financial incentives with the goals of successful global integration, companies can overcome resistance, improve collaboration, and unlock the full potential of their global teams. This approach not only improves perception and drives collective participation but also ensures that offshoring is seen as a strategic initiative benefiting the entire organization. As firms continue to navigate the complexities of global operations, innovative approaches like this bonus structure will play a crucial role in building cohesive, high-performing teams across borders.
Shawn Parikh is the CEO and Co-Founder of MYCPE ONE. A Chartered Accountant by qualification, he has over 15 years of experience of being a problem solver for small to mid-size firms and over time he has given consultation to thousands of CPAs, accountants and tax pros. Shawn has always been a big believer and advocate of social enterprises and small accounting firms & businesses. He consults and speaks on several topics ranging from Building Remote Team - Remote Working, Offshore Staffing, strategic planning, Scalability of Accounting Practice, cloud accounting, practice management, LinkedIn marketing, etc.
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