Staffing Smarter: Why Are Australian Financial Service Business Turning to Outsourcing Over In-House Hiring?
In today’s fast-paced financial services landscape, every minute and dollar counts. As Financial Service Business firms scale, one critical decision often arises: should you hire in-house staff or outsource key functions?
At Veda Outsourcing Solution, we work with financial planners, accountants, bookkeeper’s, mortgage brokers and SMSF administrators across Australia, helping them streamline operations, reduce operational up to 70% costs, and scale faster by outsourcing. If you’re considering expanding your team, here’s a clear comparison between in-house staffing and outsourced support so you can make the smartest move for your business.
Cost Efficiency: The Numbers Don’t Lie
In-House: Hiring, training, and retaining in-house staff comes with significant overhead — salaries, benefits, office space, and equipment. Even for entry-level roles, the annual cost quickly adds up.
Outsourced: With outsourcing, you pay only for the services you need — often at a fraction of the cost. No recruitment fees, no payroll tax, no hidden HR expenses.
Example: Outsourcing a paraplanner or admin support role can save up to 70% compared to a full-time in-house hire.
Flexibility & Scalability
In-House: Scaling up usually means a long hiring process, onboarding delays, and fixed headcount costs regardless of business volume.
Outsourced: Need extra support during tax season or a specific project? Outsourcing lets you scale up or down as needed — without long-term commitments.
Talent Access & Specialisation
In-House: Local talent can be limited, and finding someone with financial services experience (especially in compliance-heavy markets) isn’t easy.
Outsourced: We provide access to pre-vetted professionals Australian trained specifically to support financial service business — from admin support and data entry to compliance work and client service.
4. Time Savings for You and Your Team
In-House: Managing and training staff takes time, pulling you away from client-facing or revenue-generating work.
Outsourced: We handle onboarding, training, and performance management — so you can stay focused on growing your practice, not managing day to day operational workflows.
5. Reduced Operational Risk
In-House: Staff turnover can disrupt operations and create knowledge gaps.
Outsourced: With a dedicated outsourcing partner, you gain operational continuity. If someone leaves, we handle the transition with minimal impact to your business.
Is Outsourcing Right for You?
If your team is feeling stretched, your admin workload is cutting into client time, or hiring costs are holding you back — it might be time to explore outsourcing.
At Veda Outsourcing Solution, we specialise in supporting Australian Financial Service Businesses with:
- Paraplanning Support
- Accounting Support
- Bookkeeping Support
- Mortgage Support
- SMSF Administrator Support
- Compliance Assistance
- Other Business Support
Let’s talk about how we can help you scale your firm, reduce operation costs, and deliver an even better client experience.
