The global talent shortage has reached a 16-year high in 2022, a study found out, as 3 out of 4 employers worldwide are having a difficult time finding the talent that they need for their business.
The study by manpower solutions firm ManpowerGroup showed that roles in IT and data, sales and marketing, operations and logistics, manufacturing and production, and front-office have been the hardest to fill.
And the talent shortage has spread across various industries: education, health, technology, finance, retail, hospitality, and construction.
The research paper, which surveyed 40,000 employers across 4,000 countries, said it was likely that the global talent shortage was caused by the pandemic, and consequently, uneven economic activity globally.
The reality of skills shortage around the world has led many businesses to look at outsourcing and the global talent market for their needs.
But the traditional models of outsourcing needed more flexibility when it comes to sourcing and integrating talent.
For one, the old outsourcing models do not offer mechanisms that allow the contracted staff to collaborate closely with the in-house team.
Most providers using the old outsourcing models even take full control of the staff, giving their clients very limited control in managing their outsourced team.
Rightsourcing is the answer to the limitations of traditional outsourcing models as it explores all the possible ways of getting the right skilled labour for a company.
Rightsourcing vs. Outsourcing
There is a reason why rightsourcing is a portmanteau of the words “right” and “sourcing,” as its ultimate objective is to discover the “right” person for the job by any means possible.
A good rightsourcing provider, for example, can look at the pain points of its client and recommend onshore outsourcing solutions, subcontracting partners, in-house staff, or a combination of these.
Rightsourcing even makes use of “co-sourcing,” where a firm’s in-house personnel and outsourced specialists work closely alongside each other.
For example, your in-house professionals may receive training and information from your outsourced skilled talents to help the former get accustomed to using a new piece of equipment.
In co-sourcing, outsourced experts can fill in the gaps and assist in managing heavy workloads while in-house personnel oversee and provide feedback on the work of the specialists.
Rightsourcing
- A cost-effective solution for long-term talent shortages.
- Offers a broad talent pool with flexible outsourcing structures.
- Promotes close collaboration between the company, provider, and outsourced staff.
- Takes a holistic approach to resolving long-term service needs.
- Allows companies to maintain control over key outsourced operations.
Traditional Outsourcing
- Also addresses talent shortages but usually for short-term or specific pain points.
- Limits access to talent within predefined outsourcing frameworks.
- Clients have limited managerial control over the outsourced team.
- Often solves only immediate or singular business challenges.
- Less focused on strategic, long-term collaboration or holistic solutions.
Getting the Best of Both Worlds
Developments in technology, combined with the maturing outsourcing industry, have led to the emergence of modern outsourcing models that allow businesses to enjoy the benefits of rightsourcing.
Unlike before, modern outsourcing models offer enough flexibility for a company to choose the kind of talent it needs, the right setup, and even the preferred terms of contract.
Before, companies used outsourcing to build a team of customer service agents. Today, they can build a whole finance team with members answering to the company’s in-house manager.
The dedicated staffing model will allow a company to virtually own its outsourced team or department, whether it’s located nearshore or offshore.
Modern outsourcing even lets businesses test the waters first. Employers can do a bit of outsourcing and contracting before going full steam ahead with the dedicated staffing model.
Emapta Outsourcing
- Provides a broader variety of talent, including back-end, customer-facing, and niche roles.
- Enables onshore, offshore, and nearshore outsourcing solutions.
- Gives companies full control over the core team, including management and branding.
- Encourages collaboration between in-house and outsourced teams.
- Focuses on integrating outsourced teams into the company culture and operations.
Traditional Outsourcing
- Typically limited to back-office functions and standard roles.
- Primarily focused on offshore or onshore outsourcing solutions.
- The provider retains control over the outsourced team, with minimal client involvement.
- Less collaboration between in-house and outsourced teams.
- Teams usually work separately from the in-house operations and culture.
Many businesses today have engaged in these modern outsourcing solutions to stay competitive during this period of talent shortage.
The Philippines, for example, has a mature outsourcing industry that has access to premium talent for almost every role a company might need.
Moreover, the outsourcing industry in the Philippines has been instrumental in the success of many organisations, using modern outsourcing models that other countries do not offer.
The challenge, however, is looking for a vendor that can provide the right solutions you need to take your business to the next level.
The best way to go when looking for a provider is to first identify your pain points and objectives. Then, find prospective vendors who have the experience and expertise to handle your requirements.
Most of the success stories among outsourcing companies involve providers that offer tailor-fit solutions to their clients, from hiring, onboarding, retention, and even growth.
