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Offshoring: Understanding the Emerging Global Labor Market (Mckinsey Global Institute) Hardcover – December 19, 2006
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Contents: Understanding offshoring; Sizing the emerging global labor market; Ensuring India's offshoring future; China's looming talent shortage; Who wins in offshoring?; The truth about foreign direct investment in emerging markets; Offshoring and beyond; Smarter offshoring; US offshoring - rethinking the response; How France and Germany can benefit from offshoring; Governing globalization; Index; About the Authors
This book is a compilation of articles from the McKinsey Global Institute, a think tank committed to examining global economic issues. With that as their background, it's quite easy to tell that their bias isn't towards the individual, but towards countries and corporations. The main thrust is that for each dollar spent on offshoring, the economy recovers that dollar and more in terms of increased activity and spending by the developing country. In addition, the labor pool in developing countries is far from limitless, and is constrained by a number of cultural and language issues which make for a mismatch as an offshore resource. The main offshore players, such as India, also have to be careful as to managing their overall position. Overdevelopment in a few key cities is causing labor shortages and wage pressures there, which in turn make them vulnerable to other offshoring options. In other words, there are no locked-in advantages for any of the players.Read more ›
But I had not reckoned on the editorial skills of Diana Farrell, director of the McKinsey Global Institute. Not only is `Outsourcing' highly informed, extremely readable and refreshingly practical, but most of the chapters in Offshoring are a model for other business editors. I have to say `most' chapters, but more of that later. `Offshoring' addresses its subject from three different angles and, although you will not find any such formal partitioning in the index, these approaches work well.
The first is a `how to': a practical guide for companies trying to find offshoring locations that best suit their businesses. Procurement staff will recognise the evaluation methodology used to select vendors but applied here to locations. But they will probably not have identified the factors that go into this evaluation and will appreciate the insights on how to weight these for their own organisation's area of activity and its culture. However, although `Offshoring' describes a familiar methodology, you will not find processes and procedures in this high level guide. If you are looking for checklists and templates, you'll be disappointed.
The second is about the scale and impact of the emigration of jobs and the effects on the industries and countries involved. This works at both a practical and theoretical level. Ms Farrell, who co-authors each chapter explains why certain popular outsourcing destinations will come under increasing cost pressure but may nevertheless remain attractive.Read more ›