Defining work to be done by outsourcing, crowdsourcing, or contract

[arif]

Defining work to be done by outsourcing, crowdsourcing, or contract

When deciding what capabilities your organization needs to get the work done. Should you build it or should you buy it? Also, when should you use each alternative? Leaders who choose to build hire full-time employees and then offer them lots of opportunities for development. Formal as well as informal on the job to develop the kinds of knowledge, skills, and abilities, and other characteristics that their organizations need to get work done. Their time horizon is fairly long and it assumes that these employees will remain with the organization typically for three to five years.

Other ways to get work done especially when it needs to be done in say under a year include borrowing workers, seeking volunteers, or hiring contract workers who already have the kinds of capabilities your organization needs. There are two fundamental considerations that determine whether to build or buy talent. One of these is what economists refer to as asset specificity. How critical is it that you are able to be able to perform.


Source: https://www.linkedin.com/learning/human-resources-in-the-on-demand-economy/defining-work-to-be-done-by-outsourcing-crowdsourcing-or-contract