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Outsourcing as a management practice simply means to transfer work responsibilities and decision rights to someone outside an organisation. Outsourcing is actually made up of two words, “out” and “sourcing”, a concept developed from American terminology “outside resourcing”.
When a company decides that the risk of managing in-house is greater than outside, then it is time to outsource. However, let me clarify that outsourcing goes far beyond outsourcing of humans. Other forms of outsourcing are Professional Outsourcing, Multi-Sourcing, IT Outsourcing, Process-Specific Outsourcing, Business Process Outsourcing, Manufacturing Outsourcing, Project Outsourcing and Operational Outsourcing.
For all outsourcing types, the three key reasons for enagaging outsourcing and in order of significance are, Cost Savings as outsourcing moves a busineses costs from variable to fixed. The second reason is that outsourcing enhances efficiency for the business, and thirdly delivers competit
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Sadly though, what is generally in operation is Casualization, which is often confused with Outsourcing. Casualization is the employment of casual staff, who have no contractual rights or benefits whatsoever. Outsourcing on the other hand employs staff with full labour satisfied rights and benefits such as fixed salary, pension, medical, paid annual leave and right of notice, or payment in lieu before their employment can be terminated.
It is the job or service that is outsourced, not the staff. The Professional Outsourced Provider is the one that secures an Outsourcing Contract, which like all other contracts could be time bound, one to three years contract. The employees that such a professional outsourcing company deploys to service the contract ARE NOT contract or casual staff. They should be core staff of the Outsourced Provider. Such staff are redeployable to other contracts of the Provider in the event of the Outsourcing contract coming
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Create your future. Our Benefits Outsourcing business provides benefits administration and outsourcing solutions to many of the world’s leading organizations. Our purpose is helping millions of people, one at a time, to optimize today’s health and wealth opportunities for a better tomorrow.
Awards & Recognition:
The International Association of Outsourcing Professionals (IAOP) has named Willis Towers Watson a leader on the Global Outsourcing 100 since 2011.
Everest Research named Willis Towers Watson a Star Performer in the Leaders category in 2014, and has recognized Willis Towers Watson as an industry leader since 2010.
Fortune magazine ranked Willis Towers Watson number one in the diversified outsourcing industry on its annual World’s Most Admired Companies list in 2015.
Avasant Ranked Among Best Outsourcing Advisors by The International Association of Outsourcing Professionals
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Avasant has received the highest recognition in four judging categories awarded by the International Association of Outsourcing Professionals (IAOP). IAOP’s 2021 Global Outsourcing 100 award is the sourcing industry’s most respected independent recognition.
Avasant Ranked Among Best Outsourcing Advisors by The International Association of Outsourcing Professionals
With the pandemic and subsequent turmoil, selecting the right partner and sourcing advisor has never been more challenging. Our innovations keep us ahead of the curve, and we are thrilled to be recognized by IAOP for our success. LOS ANGELES (PRWEB)