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. suits you best.

The little things that make the biggest difference

In any relationship, doing the little things well consistently is much more important than performing big, grand gestures every now and then. And it’s no different with offshoring. The quality of your offshore working relationship will largely be dictated by what happens on a week-to-week basis, not the size of the hamper that you send them at Christmas.

Having gone through this process with hundreds of businesses, there’s a recipe for success and in this video, we share the ingredients of structure, support, routines & rituals that you need in your pantry. Here’s to prioritising the little things, because they’re actually the big things.

Be Cyber Secure - How your team can help protect your clients

Your IT setup is a critical part of cyber security in your business, but what if I told you that 95% of cybersecurity breaches are caused by human error, not weak tech? (World Economic Forum, 2020)

To put it another way, if your team aren’t clear on what cyber fraud looks like and how to avoid it, your business and your clients are more exposed than you’re probably comfortable with.

In this video, I share how we mitigate the human risk of cyber attacks at 5 ELK.

Doing business in the Philippines - Demystifying Private Health cover ('HMO')

Some aspects of building a team in the Philippines are the same as they are locally but there are some distinct differences too, one of these being the importance for Filipinos to have access to a Health Management Organisation (HMO Plan) through their employment with you.

The medical system in the Philippines is effective but also very expensive which means that offering private health cover to your team is a necessary way to protect, attract and retain the right people. Check out this video for questions that we ask of insurance providers at 5 ELK to tick all the right boxes.

Making the most of your remote Team Meetings

Work in progress (WIP) meetings / workflow meetings / team meetings… these feature in most businesses, yet far too many people find them a waste of time. A ‘tick and flick’ activity with no real tangible value and I understand why. I’ve been in these meetings before and they can be a real suck on precious time and energy.

Our clients with the most successful offshoring relationships have nailed their WIP meetings and in this post, we share our best tips for getting the most from your virtual meetings to make sure you and your remote team member are always on the same page.

How to start strong with a new hire

Ever feel like building a strong team is a bit like playing Jenga? Without a solid base, you’re headed for a tumble. That’s why getting off to the right start with your team members is crucial!

At 5 ELK, we call this “nesting” – and it’s not just about making your new teammates feel welcome. It’s about laying down those all-important foundations that set them up for success.

Check out our video on crafting the perfect nesting process for your business.

How better structure can make offshoring more successful - James Marshall, Stratus Financial Group

Most people assume the main benefits of offshoring are reducing costs and opening up a new pool of prospective teammates. But have you considered the potential benefits it could bring to the quality of systems and processes within your business?

Check out this excerpt from a recent client conversation to hear how James Marshall from Stratus Financial Group and his team have helped new offshore recruits to be able ‘hit the ground running’, while building a more robust and scalable business at the same time.

Mistakes - “It's quicker to do it myself”

If you are like most people, I am sure that a chunk of the tasks that fill your day could be done by someone else. No doubt you are doing some things because “it’s quicker to do it myself than to explain it to someone else (and risk it going wrong!)” But your focus needs to be on high-value tasks like strategy which can’t happen if you are sweating the small stuff.

It’s time to break free from your DIY mindset that is stealing your brain space, holding your team back from growing and potentially putting you at risk of burnout. After all, your time is a finite & valuable resource so creating some bandwidth by outsourcing could be a GAME CHANGER not just for your business… but for YOU.

How to stop reworking tasks and delegate the right way

Are you done with redoing tasks that you’ve delegated? You wanted the task off your desk so you could focus on something else, which makes it more than a little frustrating when you end up having to finish off or redo a teammate’s work that falls short of your expectations.

Here’s the thing – when delegation falls down it’s probably due to a communication disconnect rather than a skills gap. Your teammate says “Yes” either because they genuinely thought they understood what you were looking for… or else because they are struggling to admit that they didn’t. At 5 ELK we call this ‘the Yes-Wall’, and we have some ideas for how you can bust through it.

What Kenny Rogers taught me about managing an offshore team

When your new offshore teammate’s work is not hitting the mark, it’s tempting to just give up and start again.

But sometimes walking away is not the best option and hanging in there is a gamble that can really pay off for you and your team. So when should you hang in there, and when should you cut your losses?

In this video, I share some advice from none other than Kenny Rogers on how to approach this fork in the road moment.

How to better integrate your offshore team

For Filipinos, family is at the heart of all they do. What’s more, they bring this mentality to work, so their teammates become their family, and their workplace is a community to which they are proud to belong.

So if you have one or more offshore teammates, it’s SUPER important for them to feel that they are both valued and a true part of your team. Yet we see so many businesses make the mistake of holding their offshore teammates at arm’s length, treating them like ‘external resources’.

Better integrating your offshore team so they feel seen, appreciated and connected is not only part of being a good leader (and human), but it will be great for your business too.

The power of visiting your offshore team

If you have an offshore teammate, I want to throw down the gauntlet to you. It’s time to go beyond the emails and video calls and make time for a real-life visit.

Every one of our clients who has done it has said it is a complete game changer for the quality of their remote relationships. So if you want to unlock more of your offshore team’s potential, I believe this is an absolute must.

I share more of my thoughts on this in this video.

Tips for integrating your offshore teammates into your team culture - Leong Tang, Callaghans Financial Services

When it comes to building relationships with a team on the other side of the world, very few do it better than 5 ELK client, Leong Tang from Callaghans Financial Services.

Take a look at this excerpt from a client conversation to hear how Leong and his team have nailed ‘the one-percenters’ in remote working and created a culture where their offshore teammates are truly part of the team, not just ‘an external resource’.

How to treat your offshore team the right way - James Marshall, Stratus Financial Group

The ways that you can connect your offshore and local teams are only limited by your commitment and imagination.

In this video snippet from a recent conversation, James Marshall from Stratus Financial Group shares how they treat their offshore team differently than most businesses do, and are reaping the benefits.

CHECKLIST - The technology you need to protect your clients and your business

Cybersecurity threats in the financial sector have significantly increased, and technology is moving fast!

If your business operates globally, you need to be extra vigilant to keep the baddies at bay and protect your clients. Here’s our checklist of the technology you should be using to help protect your clients and your business. 

Building trust with your teammate - The importance of 'walking the walk'

When working with teammates overseas, you can’t rely on casual coffee meet-ups and water cooler chat to build relationships. Getting to know each other requires a bit more ingenuity and will take a bit more time.

We’ve found that the most important thing is to be honest and upfront with your expectations and then make sure you follow through. In this article, we explain how you can make sure you are “walking the walk”, not just “talking the talk” with your teammates.

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.

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.

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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.

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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.

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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.

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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.

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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.