Global Business Services (GBS) organizations have become essential to the enterprise as these shared service centers help to optimize costs and build talent strategies for the future. Read on to learn more about the benefits GBS offers.
In today’s rapidly changing business landscape, enterprise CEOs face unprecedented organizational pressure to cut spending across technology, operations, and talent. To achieve these goals, CEOs are turning to GBS organizations for support. Designed to provide a broad range of shared services, GBS organizations can help enterprises streamline operations and resources, reduce costs, and reach needed talent, all while driving innovation.
Learn more about our latest thinking on how GBS leaders can accelerate impact for the enterprise.
To help bring about cost optimization for enterprises, GBS leaders are adopting the following three key approaches to drive critical transformation:
Enterprise executives are looking beyond the obvious measures to drive structural cost takeout, and we are seeing GBS leaders leverage workforce and locations strategy to aid in this pursuit. While some are reviewing the competitiveness and sustainability of existing locations, others are carefully adding newer locations that offer lucrative cost propositions and access to diverse talent pools.
With a carefully structured locations mix, enterprises are finding that they are better positioned to balance and optimize their locations portfolios and increase offshoring to optimize costs. We’ve observed that:
With the right approach, executives can leverage a variety of locations to find the right talent for the right cost, allowing them to drive growth, optimize cost, and stay competitive in the market.
Inflation is putting cost takeout pressure on businesses worldwide. In fact, cost pressure was ranked as the number one business challenge in our annual key issues survey for 2023.
Enterprises expect their GBS organizations to help alleviate some of the cost pressure by reducing operations costs or by doing more with the same, or lower, budget and
resources. With costs inflating in 2022, enterprises see opportunities now to optimize costs across the business, and GBS organizations are in a position to help lead this effort.
GBS leaders can help enterprises achieve their cost-takeout goals by deploying one or more of the following cost-saving methods:
The increased need for transformation and cost optimization initiatives among global CEOs is driving enterprises across industries to leverage the GBS model to improve services delivery and cost competitiveness. Here are a few key statistics that illustrate the growth of GBS globally:
A significant push is underway by enterprises to insource and outsource more work across core operations, IT, and corporate functions. The GBS model is proving to be an effective choice to improve operations and remove unnecessary costs. By enabling enterprises to reach their budget requirements without losing competitive advantage, GBS leaders are strengthening their foothold as trusted and vital partners.
To discover how GBS leaders are using these strategies for cost optimization and about our latest research, contact [email protected], [email protected], or [email protected].
Learn about the three key themes to deploy near- and medium-term strategic and operational levers to optimize cost for the enterprise.
Making the best location and workforce decisions to optimize for risk, cost, and talent pipeline sustainability is critical in the constantly changing global services market. Having uniquely targeted, up-to-date data and insights to develop strategies and future plans are now key to success. Read on to learn about Talent Genius™, Everest Group’s new interactive, on-demand platform delivering the insights and intelligence IT and BPS organizations need today.
Uncovering the right talent and locations amid economic uncertainty, shifts in geopolitical climates and monetary policies, inflation, attrition, and skill shortages is one of the biggest challenge Information Technology (IT) and Business Process Services (BPS) industries must overcome today.
The wrong workforce and location strategies in an unstable market could lead to suboptimal costs and waste, a lack of long-term growth and sustainability, continued challenges in acquiring and retaining talent, the inability to deliver on organization or client commitments, and overall increased risk. It is critical organizations have market visibility to build the right strategies, but they lack the data they need to make confident location and talent decisions.
That’s where Everest Group’s recently launched Talent Genius™ comes in.
This dynamic, Artificial Intelligence (AI)-powered insights platform has been purpose-built to guide IT and BPS location and workforce decisions with the most comprehensive, reliable, and current location and talent data. With Talent Genius, global IT and BPS firms can build, monitor, and optimize their location portfolio and talent hubs by staying on top of talent market trends.
With Talent Genius, business leaders can find the guidance needed to understand the latest market trends and get a step up when planning for the coming years. The interactive, on-demand platform identifies and analyzes key trends in the global labor market so leaders can quickly develop data-driven location and workforce management strategies.
Let’s take a closer look at this new solution.
Everest Group is committed to creating sustained value for the IT and BPS sectors by applying practical research to specific workforce problems. Talent Genius combines Everest Group’s years of extensive location and talent insights with ongoing market research. It offers a range of data-driven insights and analytics to help global organizations understand the rapidly changing talent market and make well-informed talent and locations decisions.
Through intuitive dashboards, IT and BPS firms get a clear view into locations around the world for country and city assessments, demand hotspots and trend monitoring, salary benchmarking, language skills scalability, peer demand and hiring trends, and peer employer brand perception.
Talent Genius offers organizations the capability to be competitive, future-ready, and confident as they build their talent and location strategies with the ability to:
Using this tool, location and talent strategy leaders can easily determine where they should expand to optimize costs while improving access to talent. They also can assess if they are in the right countries and cities to maintain a robust, risk-managed portfolio.
As the leading research firm in the global service space, Everest Group has decades of experience partnering with global IT and BPS organizations to provide location and talent insights to enable confident decisions.
With Talent Genius, IT and BPS companies can prepare for the future with clarity and confidence. Powered by deep research and a client-first approach, Talent Genius is more than just a software platform. IT and BPS organizations can also directly engage with Everest Group analysts for further insights and support. The unique combination of on-demand data and expert insights ensures organizations have the right level of support to make the best decisions, while still providing the analyst support and guidance Everest Group is known for.
Talent Genius will become IT and BPS organizations’ competitive advantage to create a more agile, data-driven location portfolio. From workforce management strategies to global talent sourcing, Talent Genius offers the data and insights needed to make informed decisions.
“The global services market runs on the power of talent. It’s critical that organizations make the right decisions when it comes to creating and optimizing their workforce and location strategies. That is why we are excited to expand our services portfolio with this new cutting-edge location and talent intelligence tool. With Talent Genius, at the click of a button, our clients will have the highly-contextualized, expert-vetted information they need to confidentially make those decisions. With our commitment to innovation and excellence, we are certain that this new offering will provide unparalleled value to our clients. – Everest Group Vice President Sakshi Garg.
Learn more about Talent Genius or contact us to book a demo.
In 2023, business leaders will need to carefully align their workforce strategies with evolving business needs and budgets. While no location offers all the required skills at the desired price points, there are a few markets where demand is slowing, and the right talent can be found.
Join this webinar as our experts discuss which markets are hot and which are fizzing out. They will also explore which roles are in high demand across industries and geographies.
Whether you’re a workforce strategy executive, sourcing leader, or delivery head, this webinar will provide valuable insights and actionable advice to help you find and attract the best talent for your organization.
What questions will the speakers address?
Who should attend?
View the event on LinkedIn, which was delivered live on Wednesday, January 25, 2023.
Over the last decade, IT-BP services delivery from Latin America (LATAM) experienced a major boost as the location became a sought-after nearshore destination for companies in the US and Canada 🌎. While time zones and cultural similarities have played a significant role in the increase, companies have also discovered lower costs, increased government support, and rising English proficiency📊.
📢In this LinkedIn Live recording, we do a deep dive into Costa Rica and explore the opportunities and challenges of services delivery in this market.
The speakers discuss:
✅ What is the value proposition of Costa Rica for global services delivery?
✅ What is the nature of the talent pool, and what skills are available?
✅ How much cost arbitrage does Costa Rica offer?
✅ What is the on-the-ground experience of players operating IT-BPO delivery centers in Costa Rica?
The current outsourcing climate is showing an increase in offshoring and nearshoring, and organizations are scrambling to adjust their global location selection strategies. Designing a supply base portfolio with an optimal locations mix today is critical to balance talent availability, supply risk, and costs.
To stay ahead of the competition, sourcing practitioners and location strategy professionals need to understand key market dynamics and the opportunities each location presents.
The current outsourcing climate is showing an increase in offshoring and nearshoring, and organizations are scrambling to adjust their global location selection strategies. Designing a supply base portfolio with an optimal locations mix today is critical to balance talent availability, supply risk, and costs.
To stay ahead of the competition, sourcing practitioners and location strategy professionals need to understand key market dynamics and the opportunities each location presents.
Watch this on-demand webinar to hear our analysts discuss the latest global locations market trends and tips for building an effective locations portfolio strategy for 2023.
What questions will the on-demand webinar answer for the participants?
Who Should Attend?
Global Business Services (GBS) organizations have a big opportunity to champion Environment, Social, and Governance (ESG) in banking and financial services (BFS) institutions. To learn about six ways GBS organizations can help enterprises reach their ESG goals and unlock greater value, read on.
ESG is creating new opportunities for BFS Global Business Services organizations. Fast-evolving consumer awareness about social, political, and environmental values, emerging regulations, and increased demand for sustainable financial products are pressuring BFS firms to prioritize ESG goals in operations and employment.
Let’s explore the significant role GBS units can play in enabling ESG for enterprises.
To meet new customer and investor expectations along with regulatory mandates, BFS organizations are building ESG products and services – such as green loans, sustainability-linked loans, and carbon-neutral banking – to make their operations sustainable.
Capital market firms are embracing green underwriting, while asset and wealth managers are steadily moving toward ESG investing. These organizations are also focusing on workplace diversity, pay equity, and good governance structure to meet their ESG aspirations.
This has created a big opportunity for GBS organizations to move from being measured for their labor arbitrage and cost efficiency to the value they can deliver to enterprises. These units can become vital to the enterprise’s ESG agenda by expanding their sustainable service offerings and conducting ESG-specific due diligence and risk assessment. GBS centers’ strong visibility across the enterprise’s functions, operations, and capabilities to support their ESG initiatives will drive this new focus.
As BFS organizations increasingly look for ways to support and grow their businesses with an impact-driven mindset, GBS organizations should be at the forefront of defining and internalizing ESG goals.
The new environment has opened up many avenues for GBS organizations to maximize the value they can deliver and become ESG enablers for their enterprises. For a deep dive into the opportunities summarized below, please read our newly released research.
See how GBS organizations can promote ESG initiatives within the enterprise in the image below.
GBS organizations can enable the following key opportunities for BFS firms:
As GBS organizations take on more strategic roles, it becomes imperative for them to step up and become ESG enablers for their enterprises. To do this, GBS leadership must champion the development of ESG-specific capabilities and prioritize initiatives to drive enterprises’ ESG agendas, while embedding ESG and sustainability practices into their service delivery and operations.
To discuss how we can assist your enterprise with achieving your ESG goals, reach out to Sakshi Garg [email protected], Piyush Dubey [email protected], and Mohini Jindal [email protected].
Discover more about how to integrate sustainability and ESG initiatives into your organization in our upcoming webinar, Driving Larger-scale Adoption of Impact Sourcing from the Inside Out.
Banking and Financial Services (BFS) companies have led the market when it comes to GBS model adoption. However, external market conditions, including the geopolitical environment, great resignation, talent shortage, and inflationary pressures have made finding talent and achieving enterprises’ growth aspirations a struggle for BFS GBS organizations.
To meet the surge in demand for talent, BFS GBS organizations are expanding their locations and sourcing portfolios with a “more is better” approach by searching out various talent supply models and locations across offshore, nearshore, and onshore geographies.
Join our exclusive GBS Leadership Exchange virtual roundtable, “More is Better” | Location and Sourcing Strategy for BFS GBS, on Thursday, September 22, 2022, 8:30-10 am EDT / 6-7:30 pm IST.
What you will take away
In this collaborative session, you’ll come away with new insights from our experts and your peers as you exchange perspectives on locations and sourcing strategies, including:
Who should attend?
Virtual Roundtable Guidelines
This event is available to our GBS Leadership Exchange members only. The only price of admission is participation. Attendees should be prepared to share their experiences and be willing to engage in discourse.
Participation is limited to enterprises (no service providers), and Everest Group must approve each attendance request to ensure an appropriate size and mix of participants. The sessions are 90 minutes in duration and include introductions, a short presentation, and a facilitated discussion.
The metaverse offers promise to reinvent hybrid models by balancing remote work with social connections formed between avatar versions of employees in a virtual world. This emerging model holds the potential to enhance team collaboration, accelerate learning, and spark creativity. Learn the latest metaverse trends to watch in this blog.
Hybrid work environments – the answer to many of the issues of remote working experienced during the pandemic – have increasingly been adopted by global enterprises in all industries to offer work flexibility along with in-person collaboration employees desire.
Now the metaverse can take hybrid work into its next evolution – bringing together the advantages of the work-from-home environment with the social connections, teamwork, and fun of the virtual world.
In this exciting next phase, employees will work in a persistent immersive mega virtual smart space akin to a universe where people have seamless digital experiences that can extend to the real world.
Employees with 3D avatars of themselves will inhabit virtual office spaces to meet and collaborate with their teams remotely without feeling distant. Many metaverse solutions for the workplace, like Microsoft Mesh, NextMeet, and Meta’s Horizon Workrooms are already gaining popularity for work meetings.
Metaverse advantages in a hybrid work model
When operating in the metaverse, organizations reap all the benefits of remote work, including reduced operational costs for real estate and facility maintenance. Here are some of the other key benefits:
Organizations can deploy metaverse applications throughout the employee lifecycle, including attracting talent by distinguishing themselves, developing skills through virtual training, and engaging employees so they stay with the company
A fully immersive metaverse environment functions exactly like an office space where employees can have the impromptu interactions needed to build a shared organizational culture. When working in the metaverse, employees work in different environments than their homes, providing a barrier between jobs and leisure
Challenges to the metaverse in hybrid work
The metaverse will have some challenges to overcome and these include:
Metaverse outlook
Most organizations are following a wait-and-watch approach when formulating internal and external metaverse strategies as most metaverse solutions offered today are in their initial development stages.
Widespread metaverse platform adoption is likely to take a few years because the infrastructure, applications, and computing power requirements for a very immersive metaverse experience are not yet available on a deployable scale. However, the metaverse offers an enticing value proposition that should be closely watched.
To discuss metaverse trends and their impact on the hybrid work model, contact [email protected], [email protected], and [email protected].
You can also view our LinkedIn Live event, Trust and Safety (T&S) in the Metaverse | With Great Power Comes Great Responsibility.
Access the on-demand webinar, which was delivered live on May 24, 2022.
If you’re a workforce leader and you feel overwhelmed or in search of solutions because of our current talent market, you’re not alone. The uncertain geopolitical climate in Europe, talent markets with high inflation in Asia-Pacific and North America, increasing macroeconomic risks in Latin America and MEA, and rising customer expectations globally are leaving most talent executives at a standstill.
In this on-demand webinar, our experts offer key insights that talent leaders can use to readjust their workforce strategies and raise their odds of success.
Participants learn:
Who should attend?
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