Tag: GBS

Everest Group Publishes 2023 Rating of Top Global Business Services Employers

Sixty companies across India, the Philippines, and Poland recognized as Top GBS employers

 

DALLAS, July 6, 2023 — Everest Group today released the results of its second annual rating of top Global Business Services (GBS) employers across India, the Philippines and Poland. The Everest Group Top GBS Employers™ report for 2023 provides an “outside-in proxy” on how prospective candidates perceive employer companies. Leading global GBS organizations can leverage insights from this study to optimize their talent management strategies.

“Despite the slowdown and layoff cycles of 2023, talent is still the differentiating factor that enables organizations to survive uncertainties and thrive in intense competition,” said Rohitashwa Aggarwal, partner at Everest Group. “Our research shows that perceived brand perception strongly influences and correlates with success in talent markets for GBS employers. GBS organizations need to understand what components most contribute to employer brand perception in local talent markets and how to strengthen their brand to attract and retain the best and brightest.”

 

***Download a complimentary copy of the 2023 Everest Group Top GBS Employers™ list and analysis***

 

For this year’s study, Everest Group analyzed the employer brand perception of more than 300 leading GBS employers across India, the Philippines and Poland. Using publicly available information, Everest Group explored multiple dimensions of employer brand, including compensation and benefits, work environment, career development, and diversity and inclusion. The study also analyzed the perceived performance of each of these GBS organizations in the local talent markets based on prevailing retention rates, net gain-loss, and employee satisfaction scores.

Everest Group identified the Top GBS Employers for 2023 by plotting aggregate ratings of employer brand perception against aggregate ratings of success in the talent market. Amazon.com is the only company to be rated a Top GBS Employer in all three geographies.

 

Top GBS Employers in India

Among 165 India-based companies assessed by Everest Group, 30 employers were designated the Top GBS Employers in India. Among the highest rated employers are American Express, AT&T, Bank of America, Cisco Systems, Colt, Expedia Group, Experian, Ford Motor Company, GSK, Mondelēz International, Sun Life Financial, Target & Trans Union.

“Target is honored to be recognized again as a top employer by Everest Group,” says Bruce Starnes, president of Target in India. “Our team is at the heart of Target’s strategy, and our global culture of caring, growing, and winning together includes ongoing opportunities to engage in meaningful work and develop new skills.”

“Hyderabad boasts a vibrant ecosystem with a rich pool of highly skilled engineers, innovators and technical professionals,” said Alexander Lintner, CEO of Experian Software Solutions. “This achievement is a testament to the Hyderabad team, and a direct reflection of how we truly live through our brand values by continually advancing our technology, and innovating to grow to delight our customers. A huge part of how we achieve this is to attract and retain top talent across our markets through our unique, people first culture. I believe with this award we will propel to new heights of success, enabling us to further drive innovation, accelerate product development and establish ourselves as a leader in the industry.”

 

Top GBS Employers in the Philippines

Among 70 Philippine-based companies assessed by Everest Group, 15 were designated the Top GBS Employers in the Philippines:  Amazon.com, American Express, Diageo, Henkel, ING Group, Johnson & Johnson, JPMorgan Chase, Macquarie Group, Northern Trust, Philip Morris International, Procter & Gamble, RELX, Sun Life Financial, Synchrony Financial and Wells Fargo.

 

Top GBS Employers in Poland

Among 70 Poland-based companies assessed by Everest Group, 15 were designated the Top GBS Employers in Poland:  Amazon.com, AstraZeneca, Avon Products, Bayer, Cisco Systems, Colgate-Palmolive, F. Hoffman-La Roche, GSK, ING Group, Mars, Mondelēz International, Motorola Solutions, Philip Morris International, Takeda Pharmaceutical, and Procter & Gamble.

“Our ambition for Takeda Business Solutions – the global business services (GBS) arm of Takeda – was to create a GBS function that would become a valued partner to the business, delivering innovative and optimized solutions that would significantly free up our people’s time to do more for the patients we’re privileged to serve,” said Sanjay Patel, global head of Takeda Business Solutions. “As we continue our journey to become a best-in-class GBS function, we welcome this invaluable opportunity to benchmark our performance and identify opportunities for further growth.”

 

Key Takeaways:
  • GBS employer brand perception is volatile and changes over time. In 2022-23, Everest Group observed a notable dip in employer brand perception ratings across regions. On average, employer brand perception for GBS employers in India, the Philippines, and Poland has decreased by 2%, 20% and 11%, respectively
  • Employee expectations are ever-changing. Work flexibility as well as diversity and inclusion emerged as crucial factors in attracting and retaining talent. In fact, mentions of concerns about work flexibility have more than tripled compared to last year’s analysis. Compensation and benefits also remain of key importance
  • Holding the top GBS employer position is no easy feat; approximately 15% of last year’s top performers have slipped from the top quadrant in India, the Philippines and Poland However, some GBS employers have achieved significant positive shifts in brand perception through multi-pronged initiatives. An improvement of 60% within one year is the highest recorded this year and 12 organizations achieved improvement of more than 20% year on year
  • Cultural differences impact employer brand perception, as employees in the Philippines generally exhibit more positivity compared to their counterparts in India and Poland
  • Employer engagement period counts. GBS employers in the Philippines with over 6 years of local presence secure higher positions on the chart
On-Demand Webinar: “Winning Employer Value Propositions: Strategies from Top GBS Employers”

In this webinar, available on demand, Everest Group presents the results of its Top GBS Employers study and shares what top GBS employers are doing to set themselves apart. Watch this webinar to learn what factors impact GBS brand perception in key markets, how companies can evaluate their own brand perception from an employee’s perspective, what organizations can do to address employee grievances and enhance their overall brand perception among potential employees.

 

About Everest Group

Everest Group is a leading research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing delivers precise and action-oriented guidance. Find further details and in-depth content at http://www.everestgrp.com.

Winning Employer Value Propositions: Strategies from Top GBS Employers | Webinar

On-Demand Webinar

Winning Employer Value Propositions: Strategies from Top GBS Employers

Employer Value Proposition (EVP) has taken center stage as workforce expectations rapidly evolve.

To learn what a truly effective EVP entails, Everest Group conducted a study to find the top GBS employers by examining the employer brand perceptions of more than 300 leading GBS organizations across India, Poland, and the Philippines. The study covers multiple dimensions, including compensation, career progression, senior management, work-life balance, culture and values, and the diversity of GBS organizations worldwide.

Join our experts as they present the top GBS organizations’ performances in local talent markets based on attrition rates, joiner-exit ratio, and overall employee satisfaction ratings.

We’ll also hear from best-in-class GBS organizations, including Sun Life Asia Services Centres, Experian, and Target in India, on how they differentiate themselves in talent markets and the resulting key implications for the GBS industry.

Our speakers will discuss:

  • What factors impact GBS brand perception as an employer in key markets?
  • How can companies evaluate their own brand perception from an employee’s perspective?
  • How does employer branding correlate with factors such as GBS age, size, and industry vertical?
  • What are the top employee grievances?
  • What initiatives do best-in-class organizations employ to enhance overall brand perception?

Who should attend?

  • GBS site leaders
  • GBS strategy leaders
  • Heads of human resources
  • Heads of talent acquisition
Aggarwal Rohitashwa B
Partner
Everest Group
Kumar Shivangee
Senior Analyst
Everest Group
Rajeev
Rajeev Bhardwaj
Vice President & Chief Human Resources Officer
Sun Life Asia Service Centres
David Palmieri square
David Palmieri
Managing Director, Head of Global Business Services
Experian
Bruces headshot square
Bruce Starnes
SVP & President
Target in India

Top GBS Employers™ in India, The Philippines, and Poland 2023 – How Leading GBS Organizations are Building Brand Perception | Blog

Employee and job candidates’ perceptions of an employer’s brand can significantly impact talent acquisition and retention. Building on its inaugural research in this area, Everest Group will soon release its 2023 report examining how operations and technology employees in Global Business Services (GBS) organizations in India, The Philippines, and Poland view their employer’s brands. Read on to learn why building a positive brand perception is crucial in today’s war for talent. 

See who’s on the list in the 2023 report.

Why GBS brand perception matters?

GBS organizations are only as good as the talent they possess. Brand perception can positively or negatively impact the GBS employees who provide services to the broader company. With today’s unique operations and talent needs, leading GBS firms understand the importance of investing heavily to create a positive employer brand in the local markets where they operate.

Building and maintaining a strong GBS employer brand is critical for talent recruitment and retention. As the battle for skilled talent continues, even with massive layoffs, companies are continuously striving to improve their competitiveness by creating a favorable reputation.

Employer branding, or how current and prospective employees view the company, is one of the most critical decision-making factors for job candidates. Employer brand perception is shaped by a combination of factors, including company policies, activities, and communications by the employer and its current employees.

Perception matters in today’s digital age. Employees can easily access information online, and good and bad news travels fast through social media. Potential employees can easily research a company’s reputation; read employee reviews on portals like Glassdoor, AmbitionBox, and Indeed; and develop a view of the company’s culture and values through social and professional media sites like Facebook, Instagram, Twitter, LinkedIn, etc.

Potential employees form their views about a company through these review portals, social media, and other online discussion forums, and the sentiments they come away with can be different than the image the employer presents.

While GBS leaders regularly collect feedback to make improvements, they can be blindsided by their views of their brand and fail to seek the much-needed outside-in-employee perspective. To address this void, Everest Group’s Top GBS Employers’ Report provides employee views on reputation, enabling GBS leaders to compare how they rank against market competitors and improve their talent strategies.

About Everest Group Top GBS EmployersTM Report

Brand perception studies typically do not focus on the differentiated nature of the GBS market and fail to capture the concerns of talent or the voice of employees. Everest Group’s Top GBS Employers analysis is, by design, based on publicly available information and the latest feedback capturing prospective employees’ perceptions about GBS organizations.

The report findings provide companies with a comparative snapshot of leading firms’ market perceptions among the technology and operations workforce to arm GBS leaders with relevant facts and insights to make the right decisions.

First report of its kind

A year ago, Everest Group analyzed 200-plus GBS organizations across India, the Philippines, and Poland in a first-of-its-kind study in 2022, capturing the outside-in perspective of each organization. The firm analyzed data based on ratings on employee review portals, social media, and the internet. The study examined brand perception across dimensions such as compensation, career progression, senior management, work-life balance, culture and values, and diversity. It also evaluated the performance of the GBS organizations in local talent markets, spotlighting attrition rates, joiner-exit ratio, and overall employee satisfaction ratings.

The report revealed that companies viewed favorably by the public may be seen differently by GBS personnel in local markets. This analysis helps GBS organizations understand their employer brand’s outside-in perception and compare it with their industry peers, as well as with their internal brand perception.

To learn more about the 2022 results, Everest Group presented the following interactive sessions:

  • A LinkedIn Live event, Who Are the Top GBS Employers?, featuring discussions with GBS leaders from Sun Life Financial Asia Service Centre, Mondelez International, and SAP, India to help GBS organizations understand best-in-class practices and initiatives to build their GBS employer brand
  • A webinar, Elevate Your GBS Employer Brand: Lessons from Top Employers, to provide GBS leaders with insights to contextualize the report findings and develop a plan for improving the outside-in perception of GBS brands

The second edition of Everest Group Top GBS EmployersTM

Expanding on the scope of the 2022 report, Everest Group is finalizing the second edition of the Top GBS Employers Report covering 300-plus GBS organizations across India, the Philippines, and Poland. A report covering case studies showcasing actions taken by Top GBS employers in their respective locations will also follow.

To learn more about how the top 15 GBS employers in Poland set themselves apart, view the Linkedin Live event, Improve Your GBS Employer Brand, Learning from the Best in Poland, featuring GBS executives who have shown significant leadership and innovation. Rohitashwa Aggarwal, Partner of GBS Research and Advisory at Everest Group, talks with leaders from ABSL DACH; Antonio Calco Labruzzo, Global Head of HR, GREFP and Takeda Business Solutions; Jacek Przybylski, Senior Director, Site Leader Cisco Krakow; and Edyta Wojtkiewicz, Head of  EMEA GFS, AstraZeneca.

Below is a look at how employees at top GBS organizations in Poland view compensation and benefits, work environment, career development, and diversity among, other factors that influence their job satisfaction:

Screenshot 2023 05 31 073215

GBS leaders are invited to attend an upcoming webinar to learn about the Top GBS employers in India and the Philippines. This webinar will present the views of leaders from Sun Life Asia Services Centers, Experian Business Services, and Target in India on this assessment and their actions to build and maintain their GBS brands. Attendees also can request one complimentary assessment of their GBS organizations in either India, the Philippines, or Poland.

To learn more about Everest Group Top GBS Employers and Top Employers for Tech Talent, reach out to [email protected], [email protected], [email protected] or contact us.

Global Business and Finance Shared Services Offer Rewarding Career Opportunities to Accountants | In the News

Global Business Services (GBS) and Finance Shared Services (FSS) are large employers of accountants worldwide and provide an entry point into the accountancy profession and potentially rewarding careers in finance, accounting, and business services.

According to Everest Group research, in 2022, talent and skills shortages are top-ranked concerns of FSS and GBS leaders, up from being ranked fifth in their concerns in 2020 and 2021.

Read more in IFAC.

The Six Key Pricing Themes Dominating 2023 | Webinar

On-demand Webinar

The Six Key Pricing Themes Dominating 2023

In 2022, the outsourcing industry experienced significant attrition and wage hikes. However, those metrics stabilized in the first few months of 2023, and due to today’s economic environment, the focus has turned to cost control. To make the best decisions going forward and fulfill their cost-cutting mandates, business leaders must stay on top of these shifts.

In this webinar, our experts will discuss the six key pricing and commercial themes observed in the first half of the year and how enterprises can incorporate them into their planning whether entering new outsourcing relationships, renegotiating, or consolidating.

Our speakers will discuss:

  • Which key outsourcing pricing and commercial themes were observed in the first part of 2023
  • How these six themes are expected to play out for the remainder of the year
  • How enterprises can use these themes to plan and execute on their cost-cutting directives

Who should attend?

  • CIOs
  • Pricing heads
  • IT/BPO strategy heads
  • Strategic sourcing leaders
  • Category leaders
  • Solutions heads
  • Procurement managers
  • Vendor managers
  • Presales leads
Arora Achint
Partner
Rahul Gehani Bio Picture V1 2021 03 26
Partner
Sharma Abhishek Refresh gray square
Partner
Sundrani Ricky
Partner

7 Main Issues Facing Shared Services Today (and How to Address Them) | Webinar

On-Demand WEBINAR

7 Main Issues Facing Shared Services Today (and How to Address Them)

2023 will be a challenging year for shared services. Our “running list” of complications (lack of buy in, reputational issues, poor access to IT hours, teams being stretched, knowledge retention) is being compounded by economic stagnation, rising inflation, and geo political instability. Many finance shared services organizations, and their leadership teams, are being stress-tested beyond compare.

Listen as Everest Group Partners, Rohitashwa Aggarwal and Amy Fong, join industry experts to discuss the 7 Main Issues Facing Shared Services Today (And How to Address Them).

This webinar will:

  • Provide you with comfort – you are definitely not alone
  • Illustrate the business implications of these issues
  • Map out how to address these issues

From dealing with the highest inflation in decades, underinvestment, dealing with dud data, to being stuck in a paradigm of Transaction Processing, this webinar will prove to be an excellent investment for any shared services professional keen to move forward.

 

Rohitashwa Aggarwal
Partner, Everest Group
Amy Fong
Partner, Everest Group
Olav Maas
VP, Product Management, Basware
Sarah Fane
Head of Content, sharedserviceslink

Be Like a Duck. But Below the Surface, You’d Better Be Paddling Like Hell | Blog

sourcing change logo 1 1

Deborah Kops
Managing Principal, Sourcing Change
Executive Advisor, Everest Group

Is it a normal silly season? Or is it a symptom of the times? Business dynamism is at an all-time high, compelling smart GBS organizations to go into continuous change mode.

This year there seems to be more MAC (moves, adds, and changes) in GBS delivery networks than usual. Work is transferring from center to center, often in response to the need to rebalance locations as a result of the Ukraine war. Talent challenges are causing GBS organizations to rethink what goes where and whether it’s time to break the Costa Rica/Cracow/Warsaw/Manila/Hyderabad-Bengaluru-Gurgaon mold and invest in locations that haven’t yet been saturated. And the perennial, the client-giveth-to-the-outsourcer, the client-taketh-away syndrome seems to be in full flow as the BPOs face the same talent and delivery challenges as captive operations do. But that’s another, more complicated challenge for later on—let’s focus on in-house center-to-center transfers.

Is a delivery network switch a non-event? How do you make it so? I’ve been thinking through a challenge that gets almost no airtime but is a fact of life for the majority of maturing GBS organizations—if they always have their fingers on the pulse of the business.

The common wisdom amongst many of the GBS glitterati is that any change in delivery location should be invisible to its stakeholders. Why mount a full-fledged change management initiative when moving bill paying from one location to another should be a non-event?

Wrong. Wrong. Wrong. Ergo, the duck as an analogy. It’s a worthwhile goal to aim for a non-event for stakeholders. But under the surface, GBS had better be paddling like hell. Be prepared, people. A GBS inter-center transfer of work can be a surprising and silent GBS headache.

Here’s what I see as the difference between transition and transfer:

  • Since the main goal is to make a delivery switch part of silent running and ultimately frictionless, the transition playbook, with its high levels of negotiation, communication, and engagement, is usually not fit for purpose
  • In a center-to-center transfer, as opposed to a transition, GBS organizations forgo setting up formal channels to “explain or complain”
  • The focus shifts to users as opposed to the business. In a transition, aligning the business to working differently is critical to success. In a transfer, users usually bear the brunt of the pain
  • In a transition, employee attraction, training, and institutionalization is critical. In a transfer, the impacts on staff are greater. It means new work, new roles, and often no jobs. The culture of the sending team may be different from that of the receiving team. Since light-out GBS is still a pipe dream, the dependency on people becomes a wildcard in the transfer

Thinking about moving the deck chairs around? Let’s examine what needs to be true to be successful.

First off is the concept of legitimacy. If a GBS is not deemed to be legitimate by its most critical stakeholders—the functions and the business—transfers are a non-starter.

  1. The GBS model must be stable and accepted by key stakeholders. Ideally, GBS should be viewed as a type of managed services model, with full purview over delivery location decisions
  2. A well-defined strategy should be in place, with clearly articulated and previously communicated principles backed with data as to what should go where (also known as sign on the door). This is critical to quash speculative debate about the perceived advantages of Bengaluru (Bangalore) over Bucharest
  3. Any financial implications of the transfer must be calculated and communicated to the stakeholder in advance, such as tax and transfer pricing, in order to maintain transparency. Nothing crushes trust like a bill no one expected in a ramp down and ramp up

If legitimacy is established, it’s time to examine operations to ensure that the ball won’t be dropped in the process of transferring work. Prepare for trouble if you can’t tick off the following boxes:

  • The impacted processes are standard and stable across the delivery network. The aim here is lift and shift, not fix and shift
  • SLAs are current, in place, and accepted, with limited deviation expected in the center-to-center transfer
  • Now, this sounds a bit picky, but if experience is not standard across the network, with such elements as generic addresses, catalogs, and avenues to access GBS in place, you are likely in for a heap of hurt as users struggle to make the switch
  • There is a reasonable level of process digitization with limited reliance on humans. The higher the automation, the greater the chance for a frictionless transfer
  • There is no language dependency required for process delivery, or necessary language capability available in the receiving location

Now it’s time to start the action. Make sure the approach is tailored to the change at hand, or in the immortal words of Gilbert and Sullivan, “let the punishment fit the crime.”

  • Keep your tendency to “tweak” held in check. Remember that the goal is transition, not transformation. Save radical process improvement for another day
  • Stay flexible. There will be surprises. The transfer plan must be dynamic
  • Acknowledge and work with cultural differences in the delivery teams. While it’s stating the obvious, delivery pivots on the culture of the team performing the work, especially when it comes to customer experience. Make sure that the impact of the cultural differences in location are understood and addressed
  • Over-index on the comprehensiveness of knowledge transfer. We think we’d documented the dickens out of our processes, but sadly, that is not always the case. An obsession with accurate knowledge transfer is especially critical when the loss of jobs is part of the plan
  • Establish realistic timelines. PPT timelines are easy to create, but the reality on the ground is usually quite different. Regulatory, recruitment, office fit out, and other requirements likely will take more time than expected. Plan for it
  • Develop well-thought-out and targeted communications, escalation, and remediation measures. Sure, you want to play under the radar. But these assets are as important in a transfer as in a transition
  • Focus on care and feeding of impacted staff. Dealing with staff may be your biggest communications/change challenge. Unanticipated flight or disaffection on either side of the transfer has a high potential for derailing
  • Acknowledge and manage change implications on vendors and other third parties. Forget them at your peril; they are part of your GBS service ecosystem

Back to the duck. Center-to-center transfers should be seen as graceful and calm as a duck swimming across a pond. But the reality underneath the waterline must be very different, with the GBS organization paddling like all get out to effect a transfer that doesn’t go under.

Learn about Everest Group’s GBS research and insights.

How GBS Organizations Can Help CEOs with Cost Optimization and Future-proofing Their Talent Strategy | Blog

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.

Three optimization approaches

To help bring about cost optimization for enterprises, GBS leaders are adopting the following three key approaches to drive critical transformation:

  • Increasing talent model resiliency by improving and optimizing the locations mix to expand access to skilled talent – especially for niche skills – and build a solid presence in markets, creating a stronger employee value proposition
  • Optimizing near-term costs through a mix of salary structure and delivery pyramid rationalization, automation, and productivity improvements
  • Accelerating the expansion of GBS’ scope of services across operations, technology, and corporate functions to drive cost savings and reduce the cost of talent acquisition and retention in key markets

Building talent model resiliency at the right cost in the right locations

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:

  • More than 50% of new GBS center setups in 2022 were concentrated in Asia Pacific (APAC)
  • Center setups in tier-2/3 locations increased from 72 (in 2021) to 103 (in 2022)
  • 65% of GBS organizations are actively evaluating adding satellite/spoke offices

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.

Strategies to optimize near-term costs

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:

  1. Effectively optimize the cost of talent by implementing a mix of salary structure, pyramid optimization, and improved talent acquisition and retention strategies
  2. Do more with less or the same resources by incorporating process automation, productivity enhancement measures, and providing cross- and up-skilling opportunities for employees
  3. Optimize location and sourcing strategies by leveraging tier-2/3 cities, outsourcing functions, and implementing vendor rationalization processes

Expanding GBS’ scope of services to streamline operations and lower costs  

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:

  • The in-house delivery model share of the overall sourcing mix increased by 50% in the last ten years
  • More than 250 new GBS centers were established in 2022
  • GBS organizations are expected to create more than 360,000 new jobs from 2023 – 2025 in India, and over 500,000 jobs globally
  • More than 60% of GBS organizations are adding more work, including additional scale, new processes, and new functions

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.

External Forces and Influencing Factors for Business Shared Services in Europe | ABSL European Forum

EVENT

External Forces and Influencing Factors for Business Shared Services in Europe | ABSL European Forum

21 March, 2023
11:45 GMT | 7:45 EST

Everest Group Partner, Rohitashwa Aggarwal, will moderate an expert panel at the ABSL (The Association of Business Service Leaders) European forum. The panel will discuss the external forces driving growth and influencing the business services sector in Europe. Discussion points will cover a broad range of factors on Geopolitics, Data, Technology and Innovation, Talent, and ESG.

The ABSL European Forum is ABSL DACH’s flagship event. Over 150 high-level participants from the Business Services sector across Europe, VIPs/politicians, and others will join the event. The event will be held in Berlin this year.

ABSL DACH is the first independent not-for-profit association representing business services organizations headquartered in Germany, Austria, and Switzerland. Everest Group is proud to be a strategic partner for ABSL DACH.

Learn more about the event

Where

Humboldt Carré, Berlin, Germany

Moderator

Panel

Driving Social Transformation: The Power of Impact Sourcing on India’s Rural Economy | Blog

By working together, employers, training institutions, the government, and other stakeholders can create a sustainable and inclusive impact sourcing movement in India that empowers the rural population and drives overall social transformation. Read on to learn about the benefits of impact sourcing and the role each group can play to advance this powerful business practice.

My eyes were fully opened to the transformative impact social organizations can have on rural populations as a first-time attendee to Development Dialogue 2023, an international gathering of diverse sectors with the common purpose of creating sustainable solutions, organized by the Deshpande Foundation in Hubli, Karnataka, India.

While I had done some basic research on the foundation’s operations, I never expected to be surprised by the social impact on the local rural economic development from their work that includes farmer support, start-up and micro-entrepreneur programs, and a youth skilling initiative.

Hearing a 14-year-old girl from a small village near Hubli conversing in fluent English with tremendous confidence with dignitaries such as Infosys Founder N.R. Narayana Murthy and Founder and CEO of iMerit Radha Basu amazed me.

This was the moment I realized the real empowerment and impact that NGOs and organizations such as Deshpande Foundation have on the rural population. These enabling institutions educate and train the rural youth population with job-ready communications and technical skills to improve their employment prospects and advance impact sourcing in India.

Pic with Legends

What is impact sourcing?

Impact sourcing involves intentionally hiring and providing career development opportunities to people from marginalized communities. This business practice aims to meet objectives such as maintaining service quality and cost at parity with traditional Business Process Outsourcing (BPO) and Information Technology Service (ITS) providers, fulfilling Corporate Social Responsibility (CSR), Environmental Social Governance (ESG), and diversity objectives of both the business and their clients, and leveraging the unique assets of the target marginalized group.

Impact sourcing creates opportunities for such groups as economically-disadvantaged individuals, women, minorities, LGBTQ+ individuals, survivors of gender-based violence, persons with disabilities, veterans, military spouses, refugees, rural residents, and single parents.

Impact sourcing in India

As one of the fastest-growing economies in the world, India has rapidly expanded its metro cities and developing urban regions in recent years. Almost all higher education facilities and formal sector employment opportunities are concentrated in the metros or tier-I cities.

Meanwhile, more than 64% of the population resides in rural areas with limited growth options. BPO companies in metro and tier-I cities face a severe talent crunch due to high contact center agent attrition rates. Shifting urban BPO centers to rural areas not only reduces operational expenses but also provides job opportunities to the rural population.

To drive major social impact through inclusive hiring models, India needs to create a policy and institutional environment to improve employment opportunities for the rural population that includes the value chain’s three main stakeholders: government support, NGOs/training institutes, and employer organizations.

Currently, India needs more private organizations, NGOs, and training institutes focusing on sustainable rural economic and social development. Increased impact sourcing initiatives are critical to improve job opportunities and drive overall social transformation. Let’s look at the role each of these groups can play:

Role of skilling institutions

Some of the prominent NGOs and training institutes working towards these goals include:

  • Deshpande Foundation, through Deshpande Skilling, focuses on skill development and training elementary and middle-school students as well as graduates from tier II and III towns and villages
  • Anudip Foundation, an NGO in partnership with the National Skill Development Corporation (NSDC), concentrates on providing technical training to Indian youth from underprivileged communities
  • Youth4Jobs focuses on the education and employment of persons with disabilities. Many similar NGOs focus on making unemployed youth job-ready by skilling them with technical education and developing soft skills

Support from government

To promote impact sourcing among disadvantaged rural communities, the government has launched numerous initiatives for skill development, including Pradhan Mantri Kaushal Vikas Yojana (PMKVY), the Employability Enhancement Training Programme (EETP), and the National Employability Enhancement Mission (NEEM).

NASSCOM Foundation frequently uses the mantra of “technology for good” and “changing India bit by bit” to encourage private organizations to actively participate in creating a sustainable impact sourcing movement.

Need for private sector participation

While some organizations such as B2R, Genpact, HGS, iMerit, IndiVillage, Infosys, Rural Shores, and Vindhya have taken steps towards impact sourcing and rural BPO, India needs active participation from all major private organizations.

Impact sourcing offers a compelling business case that goes beyond “doing good.” Studies have shown that impact-sourcing workers are more tenacious, dedicated, and hardworking, with very low attrition rates.

Shifting to rural areas not only reduces infrastructure and operational expenses but also lowers recruitment and training costs, resulting in overall cost savings for organizations. Enterprises also gain community support and social recognition by practicing impact sourcing while contributing to social transformation.

Everest Group, in partnership with the Clinton Global Initiative (CGI), has pledged to increase the impact sourcing workforce across the globe. Through our Commitment to Action proposal, the firm provides a platform for impact sourcing stakeholders to connect and access our research on the global impact sourcing market.

To learn more about Deshpande Foundations’ Development Dialogue event, read this blog, Inspiring Development Dialogue Event Demonstrates the Transformative Force of Impact Sourcing.

If you have questions or want to join other organizations that have already taken this pledge, contact Aman Birari.

Learn more about impact sourcing trends and drivers leading to impact sourcing demand in our LinkedIn Live session, What Are the Benefits and Barriers of Impact Sourcing in CXM? 

How can we engage?

Please let us know how we can help you on your journey.

Contact Us

"*" indicates required fields

Please review our Privacy Notice and check the box below to consent to the use of Personal Data that you provide.