It has been said that on every action, there is an equal and opposite reaction. In lay man s term, this simply means that on every decision people make, there are clear advantages and at the same time underlying disadvantages associated with it. This is very true with the concept of outsourcing.
Outsourcing is very common in business enterprises nowadays. It happens when Company A hires Company B for the purpose of providing services on Company A s behalf. Though the concept may appear to be very simple, there are a lot of things to consider and these include the process of acquiring the services of the best outsourcing firm, among other particulars such as costs, terms and other conditions. Before both companies will come up with an agreement, each should be committed in getting into a partnership in which both parties will benefit from.
But then again, outsourcing drawback was felt way back in 2001. To date, the US appears to have lost more than 3 million jobs because companies are reassigning jobs overseas to save money in production and labor costs. A researching firm, Forrester Research, further indicated that up to US $136 billion in wages will be moved offshore, specifically to countries such as India, China, Russia and the Philippines. The sad truth is 88% of these firms are very much satisfied the way things work overseas, while getting more value for their money. 71% of these firms even pointed out that these overseas workers are even doing more quality jobs. Indeed, this is a bit alarming as outsourcing is definitely here to stay. The US government should act now, before the situation gets even worse.