Where Business Meets Purpose: Launching Our Inaugural Impact Sourcing Specialist State of the Market | Blog
We are very excited to share the launch of Everest Group’s inaugural Impact Sourcing Specialist State of the Market Report. The report will compare global services companies where the primary talent strategy is impact sourcing. I had the honor of conducting a similar study in 2013 with a focus on India for NASSCOM Foundation, funded by the Rockefeller Foundation. But what a difference nearly a decade can make in the growth of impact sourcing.
The increased adoption of this business practice has been driven by social movements across the globe that have prompted greater attention to equity and inclusion within society, impacting the business community. The United Nations’ launch of the Sustainable Development Goals in 2015 brought major public attention and an increased focus on global partnerships. The momentum was furthered in 2019 by the US association of CEOs Business Roundtable redefining the purpose of a corporation to promote an “economy that serves all Americans” and recognizing all stakeholders as being essential.
In recent years, many grassroots social movements are calling for social justice globally. Near continuous climate change disasters and the ongoing global pandemic have made the world feel a lot smaller and further highlighted the plight of marginalized communities. Finally, as a Gen Xer, I must give credit where credit is due – members of Gen Z are actively looking for purpose and are launching and joining impact sourcing companies to address needs in their communities.
With the combination of these factors, we have seen a growing movement for mission-driven companies within the global services industry. Today, impact sourcing specialists span the globe from developing communities in South Africa to middle-income parts of the U.S. and Europe. The companies are creating livelihoods for a wider range of marginalized communities with different operating models to accommodate these groups.
“Rural” has expanded from the Himalayas to Appalachian mining towns. Persons with disabilities now include neurodiversity alongside physical disabilities. Women are at long last being included in distinctive and meaningful ways in an industry that has struggled with diversity. And the list goes on to include veterans, refugees, native populations, and the incarcerated.
Impact sourcing operating models are also more diverse. Our initial analysis of the market shows many creative sales strategies, multi-country delivery approaches, innovative training programs, and unique employment models, to name a few. We have also learned about partnerships, M&A, and investor interest beyond the usual impact investors. This is an exciting turning point for the impact sourcing movement and space to be in!
Another big change since 2013 is the list of ecosystem builders has grown and strengthened the movement. We are proud to partner with leading global associations, networks, and platforms that are advancing impact sourcing including BSR/Global Impact Sourcing Coalition, the International Association of Outsourcing Professionals (IAOP), Business Process Enabling South Africa (BPESA), Intelligent Sourcing, and many more.
Your help is needed to continue to build collective insights into this vital market. Our State of the Market study will provide impact sourcing specialists with a unique opportunity to compare themselves to peers. It also will provide buyers with valuable insight into the latest services the market has to offer, locations, and companies using impact sourcing as a talent strategy.
Connect with us to learn how to get involved with this confidential study and assessment. If you self-identify as an impact sourcing specialist, please click the participate link below to receive the Request for Information (RFI) packet. Thank you in advance for participating.