Tag: impact sourcing

Driving Larger-scale Adoption of Impact Sourcing from the Inside Out | VirtualRoundtable

VIRTUAL ROUNDTABLE

Driving Larger-scale Adoption of Impact Sourcing from the Inside Out

December 8, 2022 |
9:00 AM EST | 7:30 PM IST

Impact sourcing allows businesses to find highly engaged and stable talent sources that deliver quality work with low attrition rates while simultaneously meeting their sustainability requirements and goals. As talent shortages continue to make headlines, businesses are aggressively turning to these non-traditional talent pools to find needed skills.

But what are the best tools and techniques to drive larger-scale adoption of impact sourcing both internally and externally?

Join this virtual roundtable and take part in conversations with our experts and your peers about how to grow impact sourcing in your organization, including:

  • What are the best strategies to drive larger-scale adoption of impact sourcing, and what are the barriers?
  • How are providers and GBS organizations advocating for the sourcing model internally?
  • How are buyers getting involved in the growth of impact sourcing?
  • What is the impact sourcing “Commitment to Action,” and how will joining it benefit your program?

Who should attend?

  • Chief sustainability officers
  • Sustainability leaders
  • Corporate social responsibility leaders
  • Workforce and talent strategy leaders
  • CHROs and heads of HR
  • GBS leaders
  • Heads of outsourcing
  • Global sourcing managers

 

Virtual Roundtable Guidelines

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 enterprise leaders (no service providers). Everest Group will approve each attendance request to ensure an appropriate group size and mix of participants. The sessions are 90 minutes in duration and include introductions, a short presentation, and a facilitated discussion.

Sustainability and the CIO’s Office: A Powerful Connection | LinkedIn Live

LINKEDIN LIVE

Sustainability and the CIO’s Office: A Powerful Connection

View the event on LinkedIn, which was delivered live on Thursday, November 1, 2022.

What did sustainability look like from the CIO’s office? Everest Group was honored to have Niklas Sundberg, SVP and CIO at ASSA ABLOY Global Solutions, joined us to answer this question ♻️.

Niklas is a leader in sustainable digital transformation and firmly believes in the diversity of people and the power of technology to positively change the world. He also recently authored a book presenting sustainability and its connection to the CIO’s office.

As a CIO himself, Niklas provided valuable insight into building an optimal sustainability strategy for 2023 💻.

Our speakers explored:
✅ How should CIOs view the sustainability puzzle?
✅ How can the diversity of people and power of technology strengthen your sustainability strategy?
✅ What were the best tips to optimize your sustainability strategy for 2023?

Meet the Presenters

Everest Group ‘Commitment to Action’ Recognized at Clinton Global Initiative September Meeting; Firm Pledges to Double Number of Impact Sourcing Workers by 2026 | Press Release

Everest Group commits to help organizations around the world dramatically increase the number of jobs provided to workers in marginalized communities and lift communities out of poverty through impact sourcing.

 

DALLAS, September 22, 2022 —At the Clinton Global Initiative September 2022 Meeting this week, former President Bill Clinton recognized Everest Group’s “Commitment to Action,” a proposal for “Enabling Inclusive Talent Models in the Global Services Industry.” Everest Group has pledged to dramatically increase the impact sourcing workforce—connecting hundreds of thousands of marginalized individuals to new jobs—by providing research and enablement tools, sharing best practices, and engaging enterprises, service providers, governments and non-governmental organizations (NGOs) in collaborative efforts. Everest Group’s Commitment to Action is to grow the impact sourcing market from its current level of 350,000 FTEs to half a million in three years.

 

***Watch former President Bill Clinton recognize Everest Group’s Commitment to Action***

 

Impact sourcing is when organizations intentionally hire and provide career development opportunities to people from marginalized communities while simultaneously meeting their business objectives. Impact sourcing workers come from groups that are economically disadvantaged, socially marginalized, under/unemployed, and/or have other unique factors which have excluded them from decent livelihoods. Women and unemployed youth form the largest segments of the impact sourcing workforce.

Globally, businesses are desperately looking for sources of talent that are highly engaged, stable and deliver quality work with low attrition rates. Meanwhile, governments and social development agencies are eagerly trying to enable decent work and livelihoods to lift economically excluded communities. The concept of impact sourcing arose at the intersection of these two needs.

 

Lifting Marginalized Communities and Fighting Poverty with Impact Sourcing

Everest Group’s Commitment to Action focuses on three stakeholder groups: employers or service providers, enterprises that buy their services, and enablers. Enablers are organizations that provide support and incentives by devising job-readiness programs and influencing policies and regulations. Everest Group pledges to promote and track the inclusive talent model of impact sourcing with robust research; provide enablement tools and how-to guides to employers and buyers; engage enablers; and share best practices.

 

***Learn more about Everest Group’s Commitment to Action***

 

Everest Group has already enlisted support and pledge partnerships from more than 30 key global employers, service providers, and enabling organizations to join in a collaborative effort to improve lives through impact sourcing, and to find a way to double the number of impact workers in three years,” said Rita Soni, principal analyst for Impact Sourcing and Sustainability at Everest Group. “Being recognized as a Clinton Global Initiative ‘Commitment to Action’ and receiving the promotional support of the CGI will help us expand this network and ultimately impact more lives. Together we can bring jobs to the often overlooked—women, youth, those living in rural regions and forgotten towns, LGTBQ+ communities, people with disabilities, and others burdened by discrimination, inequity and/or systemic poverty. And the win-win-win is that our research proves that impact workers, employers and buyers alike are benefitting by working together.”

 

The CGI September Meeting brought together business, government, and philanthropic leaders to collaboratively take action to create a better future for a world that is hungry for hope. Among the topics addressed were global health challenges, climate change, transitions to clean energy, poverty, food insecurity, mental health and inequitable access to economic resources, healthcare, and education. Soni attended the event to share the firm’s research on impact sourcing and to encourage collaboration and participation in its impact sourcing initiatives.

 

About the Clinton Global Initiative (CGI)
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI), an initiative of the Clinton Foundation, convenes global leaders to create and implement solutions to the world’s most pressing challenges. CGI Annual Meetings have brought together more than 200 sitting and former heads of state, more than 20 Nobel Prize laureates, and hundreds of leading CEOs, heads of foundations and NGOs, major philanthropists, and members of the media. To date, members of the CGI community have made more than 3,700 Commitments to Action, which have improved the lives of more than 435 million people in more than 180 countries. For more information, visit clintonglobalinitiative.org and follow us on Twitter @ClintonGlobal and Facebook at facebook.com/clintonglobalinitiative.

 

About Everest Group
Everest Group is a research firm focused on strategic IT, business services, engineering services, and sourcing. Our research also covers the technologies that power those processes and functions and the related talent trends and strategies. Our clients include leading global companies, service and technology providers, and investors. Clients use our services to guide their journeys to maximize operational and financial performance, transform experiences, and realize high-impact business outcomes. Details and in-depth content are available at www.everestgrp.com.

Impact Sourcing Delivers Winning Business Trifecta: Competitive Edge, Talent Advantage, Positive Social Impact—Everest Group | Press Release

Everest Group research validates growing business case for impact sourcing—offering enterprises alternative talent sources while making this world a better place to live in.

 

DALLAS, May 12, 2022—Impact sourcing is a proven approach to gain a competitive business edge and talent advantage while creating a positive social impact, according to Everest Group. Newly released research from Everest Group indicates that employers investing in impact sourcing are reporting long-term cost savings, reliable service delivery, improved brand equity, positive social and environmental impacts, easy access to untapped talent, and a stable, engaged workforce with a low attrition rate. Everest Group predicts demand for impact sourcing will continue to rise globally, driven by spiking attrition rates, growing talent demands, and high talent costs currently being observed in the outsourcing industry.

“Everest Group encourages enterprises to prioritize impact sourcing,” said Rita Soni, principal analyst for Impact Sourcing and Sustainability at Everest Group. “Based on our research and the feedback we receive from enterprises that are already actively engaging in the impact sourcing ecosystem, impact workers offer a competitive and cost-effective alternative to traditional outsourcing engagements. Impact sourcing workers deliver a reliable quality of service and, in many cases, very unique and valuable talents and perspectives. This is not to mention the benefits that accrue to the hiring organization from corporate citizenship, societal contributions and shared value among customers and investors.”

Impact sourcing refers to intentionally hiring and providing career development opportunities to people from marginalized communities while meeting business objectives such as:

  • Fulfilling Corporate Social Responsibility (CSR), Environmental Social Governance (ESG), and diversity, equity, inclusion, and belonging (DEIB) objectives of both the business and their clients.
  • Leveraging the uniqueness of the target marginalized group, such as detail orientation of youth on the autism spectrum or diversity of perspective for Artificial Intelligence (AI) and Machine Learning (ML) data services.

Impact sourcing workers comprise employees from economically disadvantaged groups, socially marginalized groups, under or unemployed groups, and other groups with unique factors of employability.

Currently, the impact sourcing market is approximately 350,000 FTEs worldwide.

  • The majority of impact workers (85-87%) are being employed by the large traditional outsourcing service providers, either directly for specific project requirements or as a part of their inclusive hiring initiatives. The remaining impact workers (13-15%) are employed by impact sourcing specialists.
  • Impact sourcing specialists prioritize the inclusive talent model and help enterprises meet business objectives (mentioned above) while maintaining service quality and cost at parity with traditional Business Process Outsourcing (BPO) and Information Technology Services (ITS) service providers.
  • Although the market size for impact sourcing specialists is small, revenues for this segment achieved a compound annual growth rate of 28% between 2019 and 2021. For impact sourcing specialists, Asia Pacific leads as the key impact sourcing location (58% of global FTEs), followed by Africa (17%), North America (11%) and Latin America (7%).
  • Unemployed youth (in the age group of 20-30 years) form the backbone (68%) of the impact sourcing workforce.
  • Women represent 52% of the impact sourcing workforce in contrast to representing 25-35% for traditional service providers. Single mothers, women who have lost their families, and victims of war and migration have become the breadwinners for their families. They want to be independent, and the impact sourcing industry is helping them to achieve this goal.
  • While North American enterprises are at the forefront of collaborating with impact sourcing specialists, firms in emerging markets such as the Middle East and APAC have been proactive in engaging with specialists in recent years. Specialists here provide services across industries ranging from BFSI, healthcare, hi-tech to e-commerce, retail and agritech.

These findings and more are included in Everest Group’s recently published “State of the Market” report, “The Growing Need for Inclusive Talent Models: Learning from Impact Sourcing Specialists.” The report examines the impact sourcing ecosystem, business delivery models, drivers and challenges; details the impact sourcing specialist provider landscape; and shares case studies and buyers’ satisfaction across a variety of evaluation criteria.

***Download a complimentary abstract of the report here.***

About Everest Group

Everest Group is a research firm focused on strategic IT, business services, engineering services, and sourcing. Our research also covers the technologies that power those processes and functions and the related talent trends and strategies. Our clients include leading global companies, service and technology providers, and investors. Clients use our services to guide their journeys to maximize operational and financial performance, transform experiences, and realize high-impact business outcomes. Details and in-depth content are available at www.everestgrp.com.

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