Leadership

Why Social Impact Offshoring Matters

Clare Anderson
25th June 2021
 < 1 min read

As our BDM’s personal testimonial highlights, there are a lot of common misconceptions around offshoring. To be frank, like with most things in life, offshoring is not black and white.

Many variables come into play with the offshoring experience you are likely to have, including the type of work you are offshoring, the country it’s located in and the partner you’re working with. Our experience clearly shows that when you provide high-level, meaningful work to super-smart graduates, and provide an uplifting and motivating culture to keep them engaged, there is no reason why their location has any bearing on their capabilities or quality of work. Add to this the fact that you are literally ensuring that maths grads don’t end up sweeping floors (as an example) and it becomes a compelling business advantage to consider. 

Sceptics may feel that the lower salaries paid by offshorers in developing countries are tantamount to exploitation. However, this view fails to understand the benefits these modest wages can bring to foreign workers and their respective economies. Whilst the lower salaries may seem scandalous in developed countries, the reality is they are often life-changing for the people receiving them in the developing world. They may even mean the difference between a life of borderline poverty or one of relative prosperity for both themselves and their families.

Offshoring also boosts growth in developing country economies due to the influx of new money. Individuals working for an offshoring provider inevitably have more money to spend. This means they will buy products and services from sectors in which they wouldn’t otherwise shop, ultimately boosting these sectors.

One of the biggest win-win aspects of growing foreign economies through offshoring is they will develop into potential future business partners for developed nations. Their stronger economies will allow them to conduct business on an international level and purchase products and services from the very nations that offshored to them in the first place. This demonstrates the benefits of offshoring coming full circle - and how interconnected the world actually is.

If your business needs technical talent, in particular, you’ll know the challenges in finding suitably qualified and affordable staff. STEM-related jobs are growing exponentially yet there is a chronic and urgent shortage of qualified STEM graduates globally. Hiring offshored technical staff will allow you to tap into a much wider talent pool, increase your diversity and take advantage of the cost arbitrage, relating in often significant cost-savings.

We think it’s really important to note that Sharesource is not a ‘traditional’ offshoring provider. We connect smart people in developing countries with businesses that are solving world problems. It’s important to us that we provide meaningful work and an uplifting and motivating culture to ensure that our teams progress the vision of companies doing cool work. As a social enterprise, we care about so much more than just the bottom line. We’re about changing lives for the better and providing solutions to global challenges. 

 

If this resonates with you and your business’ values, watch how Rob of Integration Kings scaled out his business by partnering with Sharesource and in the process, unleashed human potential and created a positive social impact. You may also read our blog covering ‘Five Business Benefits to Being a Social Enterprise'. Amongst many others, the key business benefits include better customer relationships, greater employee motivation and retention, increased creativity, increased productivity and enhanced brand awareness and reputation. What’s not to love about changing lives for the better (aka ‘giving you the warm and fuzzies’) whilst improving your bottom line?

 

 

 

#UnleashingHumanPotential; #SocialImpactOutsourcing 

 

 

If you’re looking for a remote team partner who truly cares about adding value to your business, Sharesource could be the answer you’re looking for. Download our eBook, '30 Essential Questions to Ask a Provider Before You Outsource’ to ensure you're informed and have the right questions to ask when considering the next step. 

 

The 30 Essential Questions to Ask Your Remote Team Partner, sharesource.com.au

Access our Remote Team Questions Guide