Business services are the non-product related activities that support the core business. They can be anything from an administrative function such as human resources to a technical service like computer maintenance to the supply chain activities of logistics or transportation.
Business services also include all activities that don’t produce a tangible product, such as a graphic design firm producing logos, packaging, publications and other marketing materials for business clients or a utility company charging commercial customers based on their power consumption. Examples of business services are insurance for a worker’s compensation claim, event management for an industry conference and catering for a corporate event.
Companies in the business services sector often provide many of these same activities themselves to save money or because they can better deliver the service themselves with their expertise and efficiency. However, there are also several benefits to outsourcing these functions including lower costs, improved service and better controls.
The qualifications to get a job in the field of business services depend on the industry and the type of position. For some positions such as janitorial or shipping, all that is needed is a high school diploma and a strong work ethic. For more professional roles such as accounting or IT, a bachelor’s degree is typically required. Customer-centric positions such as a customer service rep or consultant require excellent interpersonal skills and prior experience in the industry.
Some of the main challenges faced by business services professionals are ensuring that the employees they hire have the necessary skills to meet customer demand, establishing and maintaining a consistent level of quality, delivering cost-saving measures and optimizing the use of business services. To overcome these challenges, it is important to develop a strong employee training program that provides ongoing education and development opportunities.
As a result of the increasing competition in the business services industry, employers are increasingly looking for highly skilled and knowledgeable workers. Based on job postings, the specialized skills that employers are seeking include project management, data analysis, business process improvement and finance. In addition, employers are focusing on hiring employees who have great communication and problem-solving abilities.
Some of the best perks to working in the field of business services are medical and dental coverage, paid vacation time, tuition reimbursement and life insurance. Moreover, the job satisfaction rate is pretty good. In fact, according to BLS data, access to these benefits increased from 63% to 93% for full-time employees in the professional and business services sector. This is a solid reason for young professionals to consider starting their career in this field. Moreover, the average salary for workers in this industry is quite impressive, especially when it comes to salaries for those with a master’s degree or higher. The top 10 percent of wage earners in this industry make over $110,000 per year. Moreover, they also receive additional bonuses and incentives to boost morale and performance. This makes the job of a business service analyst an attractive and lucrative one.