Although Impact Sourcing is a rapidly growing industry, there are still many challenges that Impact Sourcing Service Providers (ISSPs) face in further expanding the outsourcing space to remote areas. Locating and training new workers is a pressing issue for many ISSPs as demand for skilled workers begins to outpace the number of workers available to do that job.
In the report, Impact Sourcing: Assessing the Opportunity for Building a Thriving Industry, the Rockefeller Foundation and the William Davidson Institute explored these obstacles and offered solutions. In order to ensure the global success of impact sourcing, ISSPs should consider a few things that will enable quicker growth.
As the Rockefeller Foundation report points out, many Business Process Outsourcing (BPO) providers are reluctant to contract with ISSPs with no proven track record. For this reason, new ISSPs should start small, choosing easily manageable contracts until they have built a reputation of providing quality work and consistently meeting deadlines.
Many ISSPs have grown accustomed to emphasizing the positive economic impact of outsourcing, but often ISSPs can be more effective by explaining how outsourcing will help a specific company. For this reason, ISSPs should work at building a name for themselves in their own country. Through branding and social media marketing, an ISSP can become recognized as a valued resource to businesses.
Reach Out to New Areas
It’s easy to land contracts and locate workers in areas that are already established in the Impact Sourcing space, such as India. But by venturing into rural areas, ISSPs can find workers who are skilled and loyal. To succeed at this, however, ISSPs must overcome obstacles like lack of telecommunications infrastructure in these remote regions.
ISSPs are a blazing trail for future generations, but there are still a few obstacles in the way. As with any business, new ISSPs must first build a solid reputation before growing into new areas and providing higher-level services.
Impact Sourcing can be a great way for BPOs to boost their reputations. Read our suggestions for BPOs interested in building a great image for their Impact Sourcing work.
What insights have you gained from this report?