According to the GSA report, 70% of companies surveyed intend to outsource more in the coming years, 83% of respondents expect the outsourcing industry to grow & 35% plan to outsource significantly.
Technavio analysts predict the IT Outsourcing Industry to grow to $409 billion by 2022.
As the Outsourcing industry grows and evolves so does business’ complexity. It is anticipated that the boundary between outsourcing and partner relationships will blur as the two become more closely aligned. Outsourcing services will become more strategic, innovative and indispensable to clients who expect customer-centricity and new technologies.
The future outsourcing relationships will;
1. Focus less on driving cost reductions & become more value oriented
2. Shift from a single outsourcing provider
3. See the continued rise of IT Outsourcing in Central & Eastern Europe
4. Assume new outcome-based contract models
5. Continue to embrace Business Process Outsourcing with the industry estimated to reach $220 billion by 2020 (Global Industry Analysts Inc.)
6. Utilize automation, virtual agents & bots to streamline tasks.
7. Increase the need for public cloud platforms & services
The continued growth in outsourcing will result in job losses (automation) and job creation (strategic roles).
We are already witnessing a shift in the types of roles BPOs’ are hiring and the skills necessary to perform these positions. The employment market is already undergoing changes aligned with increased customer outcome and our Talent Acquisition strategy has adapted to meet these needs.