What Makes a Country Good for Outsourcing?
The business world is changing crazy-faster and outsourcing is one of the strategies that help enterprises and organizations of different sizes to stay tuned with the agile market. At the same time, the fast digitalization of business processes pushes companies to engage in complex collaborations with outside people and companies.
Thanks to outsourcing those companies have unlimited access to top talent from all over the world and new technologies while staying focused on growth, acquisitions, and merging.
On the other hand, there are countless options that help agile businesses to keep their instant response to change. They are available inshore or offshore, which means that you have the options to choose between companies located in your country and others located outside beyond the borders and even on another continent. While each option has its own advantages offshore destinations are turning into outsourcing centers.
The biggest advantage is related to cost-cutting factors. However, the pay gap for specific skills such as programming has narrowed. Thus, cost-cutting is not more important than access to talent and value creation in both sides.
The questions in such cases are: What makes a country a top outsourcing destination?
Poland, Brazil, India, China are regional leaders when it comes to outsourcing. What makes them so good in the eyes of numerous companies?
English language skills. Good English was the key factor in why India turned into a leading outsource destination. India is the largest English speaking country in the world and this paved the way for many companies to access its talent pool.
Foreign languages. English is important, but the more languages someone speaks the better it is when it comes to attracting companies wishing to outsource. Depending on the company’s needs and market some of the top languages in the business world are Chinese, German, Spanish, Portuguese, Russian, French, Arabic.
Young population. A country with a young population can easily attract the attention of many companies. Young people bring fresh perspectives, enthusiasm, and energy. They can understand technology in an easier way.
A young workforce is eager to learn and succeed, while more competition provides more quality. A young workforce is the best option when a company needs to get young customers. Countries like Albania have a relatively young and highly educated workforce.
Cultural proximity to your business values and ethics. This factor is defined by specific circumstances and contexts. However, most companies focus on the work culture of a country, which means how dedicated and hard working people are to meet expectations and even exceed them.
Geographical location. Time zones, the social environment, future prospects of economic and political development.
Other important factors to consider when looking for outsourcing include the local currency, safety, privacy and data protection, confidentiality, political stability.