Offshoring Myths

It’s common to have some initial reservations about offshoring.

So we wanted to set the record straight and give you a different perspective on some of the common mistruths that we hear about building a global team.

Offshoring is unethical

Wondering whether your move to offshoring is an ethical compromise? It’s common to feel concerned that you will be supporting a “sweatshop” of sorts.

In this video we debunk this myth and explain how offshoring, when done responsibly, is a massive win-win for everyone involved. 

The truth is, offshoring creates opportunities – not just for businesses, but for people across the globe. What will you do with yours? 

Your local Admin staff are better than Filipino ones

Have you always thought that lowering your costs through offshoring means you’ll need to lower your standards of performance for a new teammate? If so, I have recorded this video to change your mind! 

Many of our clients have told us that their offshore teammates aren’t just more affordable, but are the best back-office staff they’ve ever had. And there’s a very simple reason why the quality of an offshore admin teammate is often higher than their local counterparts, which I cover in this video.

Your clients won't like it

“BUT WHAT WILL OUR CLIENTS THINK?!” This question holds back SO many businesses that I speak to from offshoring.

And I get it. Your clients are the ones keeping the lights on, and you want to avoid anything that will potentially compromise their trust in you. While offshoring might seem like a potential risk, I believe you might be overthinking this one.

In this video, I share what ACTUALLY goes down when a business introduces a new offshore teammate to their clients.

Your team won't like it

There are many boxes you need to tick if you want to get offshoring right in your business. Security, tech, the role, the person, training… most businesses have these things covered.But the box that WAY too many businesses forget to tick is getting their local team on board with the decision.

In fact, the support of your team may just be the biggest determinant of whether offshoring works or not in your business. If your team are pushing against the idea of offshoring, or if you’d like them to be more engaged with your decision to hire an offshore teammate, this video is for you.

It's too risky for my business

We’ve all been sucked in by a few urban myths in our time. So when it comes to offshoring, I hate to hear people dismissing it as “too risky” for their business without doing their homework and making up their own mind.

The truth is that the risk of offshoring depends mainly on how you approach this decision. But what if I also told you that offshoring can reduce risk in other parts of your business and that many of our clients think offshoring is much safer than the alternative? 

In this video, I share how offshoring can be done safely AND help futureproof your business for your team and your clients. 

Offshoring is safer than you may think - Leong Tang, Callaghans Financial Services

Have you ever been concerned that going offshore is exposing your clients to additional cybersecurity risk?

5 ELK client, Leong Tang from Callaghans Financial Services certainly was initially.

In this excerpt from a client best conversation, you’ll hear what Leong discovered by not just working closely with 5 ELK, but also visiting our office in Cebu, The Philippines.

Our Offshoring Toolkit

Whether you’re still unsure about offshoring or want some tips on how to do it the right way, we’ve got you covered.

Our toolkit encompasses over 10 years of client best practices and lessons learned. Your journey to offshoring like a pro starts here.

Hiring 101

You’re probably not hiring staff in the Philippines every day but thankfully, we are! So there’s no need to reinvent the recruitment wheel; take a look at our processes and templates so you can minimise risk and maximise the quality of your next offshore hire.

Access Resources

Offshoring the right way

We’ve worked with hundreds of businesses in our 10+ years of running 5 ELK. In this section, we share what separates the best from the rest when it comes to offshoring. Save time and hassle by copying best practice and learning from common mistakes.

Access Resources

Understanding the Philippines

Building a high-performing offshore team can be harder than you expect, and success starts with understanding the culture you’re working with. Here are some of the principles you need to nail in order to build strong working relationships in the Philippines.

Access Resources

Essential Technology

Working effectively remotely is so much easier when you get the technology right. In this section, we share the tech that powers our client offshore teams so you can communicate well, monitor workflow and minimise risk.

Access Resources

About 5 ELK

Whether you are looking to reduce costs, hire faster or free up your local team, 5 ELK can help you build an offshore team safely, seamlessly and successfully. In this section, you’ll find out more about the ‘nuts and bolts’ of working with us.

Access Resources

What Our Clients Say

Dylan Pargiter-Green
Dylan Pargiter-Green
2024-02-29
5Elk have been a wonderful partner to our financial planning practice. They provide above and beyond support for us and our overseas team. I feel that they are genuinely supportive of the growth of our team members and how they fit within our business.
Jacky Chalmers
Jacky Chalmers
2024-02-29
We have been working with 5 ELK for some time now, and they have been an integral part of our business growth. Their offshore team members have consistently provided excellent support, allowing us to deliver better client outcomes. The training and ongoing education options they offer are of high quality and constantly evolving. I highly recommend 5 ELK to any financial services business looking to build a high-performing offshore team.
James Marshall
James Marshall
2024-02-19
Choosing to partner with 5Elk has been an incredible experience we would encourage other financial advice firms to consider. We have a wonderful team offshore, who are fully integrated into our broader team, despite the geographical location. 5Elk have an excellent training program, and support for their team, and have a culture of excellence and support. It was critical for our offshore team to be supported and have a comfortable work environment, which has been confirmed by a physical visit to the office where a week was spent with our offshore team. We have great confidence in our choice of offshore partner, and we look forward to continuing to work closely with 5Elk.
Anthony Lucarelli
Anthony Lucarelli
2023-11-21
Alfie and the team at 5elk are great to deal with. They have found us 2 great hires who were trained very quickly. The 5elk team are always eager to help us out where necessary which we are greatful for. Could not recommend them enough!
Emily Hein
Emily Hein
2023-10-16
We were hesitant at first, but the service and capability of the team was and still is amazing. The pace in which the 5 Elk team picked up our systems, processes and expectations was impressive. We couldn't live without them now.
Sean Nigh
Sean Nigh
2023-10-16
I have been very impressed with our 5 ELK team member and the depth of support and training they receive from the broader team
Tim Arnold
Tim Arnold
2023-10-13
We couldn’t be happier with 5Elk. From the initial conversation to the moment we found our perfect hire we have felt supported and so much confidence in the 5Elk team. We are stoked with the service and even better our new team member! speak to anyone who uses 5Elk and they will tell you the same. In fact get them to put you in contact with me! I’m such a big advocate of them now I’ve seen how perfect this process was. Thanks 5Elk - Free Agency Australia
Yiling Liu
Yiling Liu
2023-08-08
We have been introduced to 5elk by other advisors. The experience with 5 elk has been amaxing and the team has shows interest in genuinely helping with our business find the right team member, train them to meet our expectations, and they constantly seek for improvement by reaching out to ensure we are happy with our service. I would highly recommend it to any organisation that needs help outsourcing the client service role.
Ann-marie Woolston
Ann-marie Woolston
2023-07-12
We were initially nervous about outsourcing our admin and client services workflow. However, from start to finish the process has been fantastic. We were impressed with the background training and support given to our chosen member of the 5ELK team to ensure she was well equipped to fulfil her role. Our new staff member has been a huge support to our business, learning quickly and answering relevant questions. She is now an enthusiastic & integral part of our team. The friendly management team touch base with us regularly and provide ongoing assistance and training should we require it. We would definitely recommend speaking with 5ELK about your workplace requirements. *****
Gavin Dannock
Gavin Dannock
2023-07-12
Working with 5ELK has been far more efficient than we would have thought. We were a little worried with how the process of starting to outsource would be, however 5ELK goes above and beyond what our expectations were. Our team member is only 5 weeks in but strives to learn every day and is already making a sizeable positive impact in our business. Definitely recommend 5ELK for financial planning companies that are considering outsourcing or are looking for a better solution than their current arrangements.

IMAGINE HAVING A TEAM THAT COULD SAVE YOU TIME, MONEY… AND SANITY

5 ELK is a safe and effective outsourcing solution for financial services professionals looking for scale, growth and increased profitability.