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The economic environments of most worldwide business sectors are going through rollercoaster rides. As the economic crisis starts to unfold, the future of outsourcing has loomed progressively regardless of the volatile conditions in the economic system. The outsourcing industry in the East continues to thrive off of the ripples of the global recession that specifically shook the economic grounds of the West.
What is the latest news? Read further and stay up-to-date on the hottest trends in the world of marketing process outsourcing.
The dynamics of businesses across the globe is in full swing, and the economic status of Europe is no exception. The term “Bangalored” takes its course once again as the Eurozone faces an economic downturn and risk of recession. The recent economic woes in the region serve as a wake-up call to outsource—a dire bold maneuver for the world’s wealthiest region.
The intensifying economic slowdown pushed the Eurozone’s companies to cut operational costs. According to Resolution Limited, a Guernsey investment firm, the 15-year outsourcing agreement with Diligenta (a subsidiary of Tata Consulting Services that is based in India) will save a £143 million operational cost and will witness a transfer of almost 2,000 workers into Diligenta UK.
While outsourcing is deemed as the last resort to save Europe from its debt crisis, this “Bangalored” move is highly regarded as an economic relief for the BPO sector of India, which is recently engulfed with customer complaints about poor quality services.
In response to the piled complaints of non-resident Indians and other visa-seeking Indians, India’s Ministry for External Affairs, S M Krishna, issued a circular to all Indian embassies and foreign missions to cease outsourcing any visa-and-passport-related work to foreign firms.
The instruction is directed to the Indian High Commission worldwide where outsourcing contracts are awarded only to Indian companies “with or without foreign partners.” There is still a line drawn since WTO regulations do not allow the Indian ministry to ban foreign companies completely.
This directive from foreign minister Krishna also accompanies a warning to all Indian commissions: a disciplinary action will be implemented “if they failed to ensure transparency in procurement and visa outsourcing.”
In today’s age of technology and outsourcing, ManpowerGroup Chief Executive Jeff Joerres stressed the need for companies, especially in Korea and in other Asia Pacific regions, to re-create plans and execute new strategies in their hiring process.
Joerres told The Korea Herald that companies need to deviate from the homogenous talent pool and prioritize diversified talent sources “to bring different perspectives for better end-products.”
With his projection that companies are now “entering the Human Age,” the core of effective quality management lies on how resources are efficiently allocated and used.
ManpowerGroup is a Wisconsin-based company that offers innovative manpower and outsourcing solutions.