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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. And offshoring feels like it may be one of those risks. But I also want to propose that you may 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 and 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.

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 covers 10+ years of client best practices and lessons. Your journey to offshoring like a pro starts here.

What our clients say

 
 
 
  
 
 
 
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 Stephen T profile picture 
 
 
 Stephen T 
 
 
 
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5elk takes away all your concerns about outsourcing work overseas.  They fully understood where they can be of benefit to our business, seeked the right candidate for us and then carried out all the necessary initial training for us so the person was ready to make a good start.  5elk gave us good communication and helped us through the whole process with good engagement and professionally. We have felt we have been in good hands. Our outsourced person is going very well for us.  5elk make it all easy.
  
 
  
 
 
 
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 chino chua profile picture 
 
 
 chino chua 
 
 
 
 Google star 1Google star 2Google star 3Google star 4Google star 5 
Our company has worked with 5 ELK for more than five (5) years now as it's back-office service provider.  I can definitely say that our company would not be where it is right now without 5 ELK.  They are our most valued strategic business partner and is integral to our company's growth.  I love how they value all their employees by providing them with their world-class training program and meaningful employee engagement activities.  I would highly recommend 5 ELK to any financial services company who is looking to outsource and build their own high-performing team here in the Philippines.
  
 
  
 
 
 
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 Mark Chan profile picture 
 
 
 Mark Chan 
 
 
 
 Google star 1Google star 2Google star 3Google star 4Google star 5 
5Elk are the very best outsourcing business for Wealth Management. Would highly recommend their services.  Highly Professional team, great support, great training and amazing team culture!
  
 
  
 
 
 
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 Geoff Ivanac profile picture 
 
 
 Geoff Ivanac 
 
 
 
 Google star 1Google star 2Google star 3Google star 4Google star 5 
I was looking for a way to create more time for myself to focus on growing my business and explore other opportunities when I kept being dragged back to client work. I was thinking of a marketing outsource solution, but I eventually decided to engage 5 Elk after having a great conversation with Danielle and Andy and seeing how they could help. Our Administration Support was matched perfectly to our needs and has enabled us to improve the quality of our work, freed me from some time-consuming tasks and enable me to focus on seeing clients and marketing which I enjoy.  I am enjoying the regular check ins and being able to impart my wisdom and am hoping this will be a long-term solution for us. It also has helped to have someone to bounce ideas off as I prepare for client meetings. If you caught between a rock and hard place and not sure what to do to grow your business and still be relevant in an ever-changing advice landscape, I highly recommend you contact 5 Elk for a chat about your needs.
  
 
  
 
 
 
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 George Tsakiris profile picture 
 
 
 George Tsakiris 
 
 
 
 Google star 1Google star 2Google star 3Google star 4Google star 5 
We previously worked with another outsourcing provider, and I was initially hesitant to switch to 5ELK, assuming all firms were similar. I couldn’t have been more mistaken. The leadership and virtual assistants at 5ELK have truly exceeded our expectations. Their service is exceptional, and we’ve been so impressed that we’ve expanded our VA team. I wholeheartedly recommend 5ELK without reservation.
  
 
  
 
 
 
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 chris klimatsakis profile picture 
 
 
 chris klimatsakis 
 
 
 
 Google star 1Google star 2Google star 3Google star 4Google star 5 
The team at 5 ELK are great and always strive to deliver the best possible service and outcome.
  
 
  
 
 
 
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 Sam Coutts profile picture 
 
 
 Sam Coutts 
 
 
 
 Google star 1Google star 2Google star 3Google star 4Google star 5 
18 months ago, we decided that our financial planning business had reached a point where extra support was needed to handle to growing pains we were experiencing.

Had long toyed with the idea of offshore support but had heard a few horror stories that made us reluctant to pull the trigger. In the end, we did out due diligence and approached 5 Elk for support.

The team was wonderful from the start, took us through the on boarding process seamlessly and actively found us a candidate most suitable to our business, based off of the characteristics that were most valuable to us.

Were at the point now in which our offshore team member has been continuously learning and progressing through our business, no different to what you would expect from a local team member.

5 Stars - will be expanding in the near future.
  
 
  
 
 
 
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 Alec Berry profile picture 
 
 
 Alec Berry 
 
 
 
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5Elk have been a pleasure to work with and the quality of work and communication have been fantastic. It's great to know that you have a business that understands financial advice partnering with you.
  
 
  
 
 
 
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 Amanda Cassar profile picture 
 
 
 Amanda Cassar 
 
 
 
 Google star 1Google star 2Google star 3Google star 4Google star 5 
5Elk have been an invaluable resource for the Wealth Planning Partners team.  We have 2 weekly team meetings to check in and all the background training is done for us.
5Elk make offshoring easy, simple and secure.
Happy to recommend to any financial advisory firm looking for an outsourced solution.
  
 
  
 
 
 
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 Mitch W profile picture 
 
 
 Mitch W 
 
 
 
 Google star 1Google star 2Google star 3Google star 4Google star 5 
5ELK has provided a great platform to connect advice firms with support staff that are engaged and keen to learn. Starting with a baseline knowledge of the industry via the training program is also a positive. Highly recommend.
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