The two main reasons that organizations decide to outsource are to reduce costs and to have the ability to focus on core business goals and planning. But the research shows a shift in industry thinking. Outsourcing is not just about saving money anymore. It’s seen as a critical tool in innovation as per the Deloitte Report. The companies that are outsourcing labor are the industries with the highest wage-paying jobs. The primary industries for outsourcing are Consumer & Industrial Products, Financial Services, Life Sciences & Healthcare, and Technology, Media & Telecom. There has also been a growing increase in outsourcing from industries such as Real Estate, Facilities Management and Procurement.
Increased costs of labor are the primary reason for US companies look to “offshore" labour.
InternationalJun 8, 2021