Outsourcing Industry

2021 Predictions And Trends For The Outsourcing Industry

  1. Outsourcing will lead to business agility
    The pandemic has imparted important business lessons, among which were the power of the remote workforce and the strategic advantages of outsourcing. Enacting various outsourcing regulations, ISO standards, and generally applicable industry laws made it easier for clients and enterprises to outsource repetitive and skill-specific processes. This also enabled business leaders to identify key stakeholders within the organization, operate on a smaller team, and devote more effort and resources to core business functions.While companies streamlined their workforce, this highlighted the need for expertise in areas of cloud migration and adoption, digital marketing, IT management, and cybersecurity. This is where outsourcing service providers enter the scene and provide customized solutions.
  2. Excellent WFH policies will be the driving force
    Managing remote workers is different than supervising employees within a traditional office setting. Right now, working from home has become a new normal for companies across the globe. From business continuity plans and productivity tracking tools to employee safety and data protection, outsourcing industry leaders are adjusting and adapting to make remote working a win-win strategy for businesses and clients alike. Flexibility, responsiveness, and strong cybersecurity measures are a few excellent WFH policies that will determine the success of an outsourcing company.
  3. Highly digitized businesses will have a considerable advantage
    Outsourcing companies with established cloud-computing platforms even before the pandemic have seen less disruption and are more equipped to handle the negative business impact if COVID-19. But it isn’t too late for other outsourced service providers to start their transition to cloud and building their cloud capabilities especially when these are essential for continuous internal operations.
  4. Customer Experience (CX) will take center stage
    A great CX is key to a good reputation, strong brand, and sustained business growth. It’s not enough to satisfy customers – the goal is to delight customers. Delighted customers are loyal customers. And they become effective voluntary brand ambassadors in the long run. Outsourcing enables companies to have access to professional skills and expertise so they can finally focus on customer experience management.
  5. Outsourcing will open new opportunities for existing company workforce
    As more and more organizations are turning to outsourcing IT development, digital marketing, HR services, cybersecurity, and auxiliary tasks, this creates new opportunities for existing employees. They can better leverage their skill sets, time, and effort to more strategic projects. This, in turn, promotes creativity and innovation while generating amazing results. Outsourcing done right can increase employee motivation and their overall value to the organization.
  6. Hybrid outsourcing models are on the rise
    In 2021 and beyond, companies are compelled to maintain organizational capabilities, flexibility, and high levels of agility to reduce the negative impacts of a fluctuating global economy. This requires a hybrid outsourcing model to help drive innovation, retain less risk, and receive greater financial value for business. This will give way to a new generation of non-traditional outsourcing partners capable of offering either high levels of collaboration and interdependence or real-time access to digital resources, which can be offered through partial or purely remote work with multiple hubs or no office sites.
  7. Post-pandemic business climate will result in a third wave of outsourcing
    A third wave of outsourcing in a post-pandemic business climate will drive many companies to accept remote work as a long-term business strategy. This requires major budget shifts to consider lower rental and facility expenses and prioritize more robust cybersecurity tools for WFH employees.

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