Outsourcing is a phenomenon that has taken the world by waves. Not a day goes past without the mention of this word. But it is difficult to
say at this point if Outsourcing will have a positive or negative effect on the economy.
Let us look at some effects outsourcing.
Positive effects of Outsourcing
Aids globalization
Improves the standard of living in developing countries
Creation of good job opportunities in developing countries
Generation of innovative low cost products in counties that outsource
Better customer service at lower rates
Generation of newer jobs with better pays in the long run
Negative effects of Outsourcing
Loss of jobs in developed counties
Huge lay-offs by companies
Risk of heavy losses to companies who outsource without proper planning
Rise of fear and dissatisfaction among employees in companies that outsource
Risk of the outsourcing company stopping its operations
The effects of outsourcing jobs on small towns and effects outsourcing will have in the future can never be clear as of now. The best one can do is wait and watch. Also read The negative effects of Outsourcing
Outsourcing history
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