Outsourcing is a rather new entrant into the English vocabulary
. In fact most languages on the globe now carry the phrase without caring to find a substitute in their own mother tongues. It is a term coined by the sphere of business that was compelled to scrounge for labor outside their geographical boundaries. Outsourcing simply means to arrange to have any particular work of an organization done by outside labor instead of hiring or employing their own work force to do the same. Outsourcing has had its effect on many socio-economic realms resulting in a fierce debate for and against outsourcing. The GDP of many nations now depend on outsourcing and the recent economic slump had its toll on the industry forcing many majors to go for outsourcing rather than to maintain a fleet of permanent employees.
Corporate bodies have taken the trend in good stead to get over the financial slug. They have turned the tide in their own favor by taking advantages of the opportunities that the field presented for good management of resources. The advantages that the outsourcing process presented include:-
- Finding talent for any job without much effort.
- Saves on the services of an employment agency.
- Providers are available for simple jobs to highly specialized and technical ones.
- Choice of a vast pool to select from.
- Saves valuable cash for maintaining a work force that may remain unproductive.
- Union squabbles can be avoided.
- There are no labor laws applicable regarding the employment terms.
- The fierce competition has ensured good quality of work to the buyers.
The takers of outsourced jobs too enjoy an equally tempting array of benefits.
- Globalization found its true meaning in outsourcing as developing or undeveloped nations got a lot of exposure.
- Due to the cheap labor available most of the jobs are outsourced to the poor nations of the world which has given a lot of boost their economies.
- A lot of people who could never dream of working for MNCs got the opportunity and the benefits thereof.
- Since big bucks were involved the overall life styles of providers too changed.
But this had a diametrically opposite impact on the employment scenario of the developed economies. The unemployment rates went uphill and many experts pointed to outsourcing as the culprit. This had given rise to a major debate during the Presidential election campaigns in the USA.
About the author
Anil Vij is an expert author and an online marketing specialist. Get the secrets super affiliates don't want you to know. Find out how to build links and get instant traffic to your site at http://onewaylinkexchange.net.