Here’s why outsourcing will continue to be a key element in business strategy

Why will outsourcing continue to be a key element in business strategy post-pandemic?
Technologies are changing and advancing rapidly. Companies need to outsource their manpower based on specific project requirements rather than trying to fit people from one project to another. It is much tougher and more expensive to hold onto talent in the long run and better to pay a higher wage and outsource the hiring process for a shorter amount of time or a specific project. Post project completion one can try and negotiate and decide whether it makes sense to hold onto the talent or not.

Incentive structures are much weaker in IT than most other industries. KPI driven/project-based incentives through an outsourcing company could result in higher productivity as well as improved employee satisfaction. Many industries like hospitality, and aviation has witnessed layoffs during the pandemic. Even the large firms had to rearrange their manpower. Part-time/freelance/project-based employment is certainly going to continue to grow drastically.

How and why outsourcing firms can or should adopt intelligent automation or artificial intelligence (AI)?
Outsourcing firms should adopt automation and intelligent AI in their recruitment and onboarding functions. Most clients and personnel are generally re-hires for large and experienced outsourcing firms. To do a fresh recruitment every time for similar positions is a waste of time and resources. If there is a level of intelligence behind the data gathering and analytics on candidate profiles, systems can learn to recruit the most suitable candidate based on the job parameters. This will help outsourcing firms not only speed up their recruitment timelines but also drastically reduce their in-house cost.

What are the current IT outsourcing trends you are witnessing in 2022?
It’s clear that in 2022 the IT demand has only picked up and the number of jobs has increased drastically. Even in larger nations such as India, candidates have multiple job offers in hand and are also transitioning from one job to another within six months. Companies are short of strong IT talent and are willing to pay a higher salary to lure the right talent. Today’s IT market is very much an employee’s market. Some of the positions expected to be available for hire are data scientist, data analytics manager, data architect, business intelligence, cybersecurity, power BI, backend and frontend developer,fullstack developer, and devops engineer.

What are the latest tech advancements companies are embracing to nurture talent?
Companies are implementing stronger applicant tracking system and assessment systems to monitor candidate capabilities. More streamlined assessments are used to track language expertise, back-end code design, and front-end development. This is resulting in a more consistent approach towards building strong candidate pipelines as companies are confident in their growth curve and manpower requirements.

With major companies entering in metaverse and NFTs, what kind of job opportunities are likely to rise?
Businesses are building digital experiences for their customers and now with metaverse gaining popularity, several existing jobs are expected to be transformed with new career descriptions and profiles. All profiles will be in massive demand and there will continue to be a surge in hiring within the IT industry as we are essentially creating another internet that will have endless possibilities. Designers will also play a large role as we are moving from 3D designs to 4D designs within a very different framework. Industries like gaming and art are also embracing the new trends in crypto, and NFTs and due to this, there will certainly be new positions created to fulfill the new demands.

Read: How outsourcing data centre operations can drive the growth of Middle East companies