Outsourcing is a complicated and controversial topic. People who detest the practice relate it to slavery, unfair wages, and stolen job opportunities. Some are even connecting it to poor service quality, unethical salaries, inhumane conditions, and the ruination of industrialized economies.
However, there is more to outsourcing than meets the eye. What was called “The Bad Boy of Business” could also bring a lot of benefits and advantages to those interested enough to look deeper into it.
Derek Gallimore, founder and CEO of leading outsourcing marketplace Outsource Accelerator, delivers an in-depth explanation of outsourcing in his new book, Inside Outsourcing.
But first, what is outsourcing?
Outsourcing is the practice of hiring third-party service providers to execute functions within a company. Through this, business leaders have the option to hire an outsourcing agency to do a portion of their work or use a platform that connects them with freelancers.
Gallimore himself describes outsourcing as having access to the “global workforce of highly qualified candidates at a fraction of the cost.”
Outsourcing had brought a lot of growth opportunities since it was first practiced around the world. In the Philippines, outsourcing brought a “golden opportunity” to its English-speaking, college-educated workforce.
Since the 1970s, outsourcing has steadily evolved. Globally, outsourcing generates $100 billion and employs around 10 million people annually!
With most of the world moving to its post-pandemic phase, outsourcing is also being highlighted as the “future of work.”
Outsourcing is just a misunderstood bad boy
Like everyone who was given the “bad boy” moniker, outsourcing is just often misunderstood. To clear the air, Gallimore’s book highlights a lot of the benefits you can get with outsourcing.
First is its cost-effectiveness. Not all business owners have the funds, but there are millions of online, well-educated, and culturally-aligned people that will happily work for significantly lower salaries than those in Western countries. Hiring an offshore team can save a company 70% on staffing costs, allowing corporations to save their funds for other parts of the business.
Second, outsourcing gives businesses access to an unimaginable pool of highly qualified professionals. Many of whom speak excellent English, have a college diploma. It also opens up the company to world talents in any industry.
Third, outsourcing played a big role — and continues to contribute — in third-world countries. A lot of countries had used outsourcing to provide employment to their population and grow their economies to a higher level.
This means that outsourcing not only helps companies succeed but also assists the development of nations around the world.
Join us in exploring the world of outsourcing
The more people care to understand outsourcing, the more we stand to gain from its benefits.
With its positive impacts on the business world, Derek Gallimore is encouraging people to give outsourcing a short or risk losing the opportunity of a lifetime.
Grab a copy of Derek Gallimore’s book, Inside Outsourcing now in paperback, Kindle (ebook), and Audible (audio). It is available in bookstores nationwide or through Amazon.