The global outsourcing sector continue to grow, and is area that is likely to continue to be source of support to a wide cross-section of industries. However, thanks to technologies and similar to all other sectors, it is also evolving. In our follow-up conversation with Rejo Sam, of management consulting firm Avasant, he updates us on current trends and developments in the Caribbean and global outsourcing space, discusses the impact on the future of work, and what the Caribbean region ought to do to better position itself in light of the changes that have been occurring.
This episode is also available in Apple iTunes, Google Play Music and on Stitcher!
Whether you love it, or still think it is tantamount to sweatshops, outsourcing, and the offshore outsourcing industry is growing across the Caribbean region, with many governments still actively promoting its growth, as a means of reducing unemployment, generating much-needed revenues, and diversifying their economies. Traditionally, the focus has been on the contact centre segment, for which relatively low skills, but considerable manpower was needed, which potentially could absorb talent from the low-skilled or under-skilled labour pool.
However, in some Caribbean countries, their outsourcing industry is beginning to mature. As a result, there is a growing focus on moving up the outsourcing value chain – to attracts work that require higher skilled, but also offers higher paying jobs. However, concomitantly, the global outsourcing space is evolving. As of 2019, the global outsourcing sector was estimated to be worth around USD 95.2 billion (Source: Statista), but it has been fluctuating over the past seven or so years, which suggests that the sector may no longer be as predictable as it had been in the past.
Following from our introductory conversation in January, and with Fabiano Rosa, on the Future of Work, we now delve into an important segment of the world of work: the IT-Business Process Outsourcing (BPO) sector. Based its importance to the region, and the fact that its growth is not as robust as it used to be, it is may be prudent to understand whether the Caribbean region’s posture and continued reliance on outsourcing is well-placed.
Rejo Sam
To give us an update on the outsourcing space – both globally and here in the Caribbean region, and the impact it is having on the future of work – we are thrilled to welcome back to the podcast Rejo Sam, who was one of our first guests when we launched in 2018. Rejo is an Associate Director of Avasant, and is based at its Trinidad and Tobago office, which serves the Latin America and Caribbean region. Avasant is a management consulting firm that is consistently recognised as one of the leading advisors in the outsourcing space.
In our conversation with Rejo, questions posed included the following:
- What has been happening in the outsourcing space globally and in the Caribbean region?
- What do you understand by the term, the future of work, within the context of outsourcing?
- How are technologies, such as Robotics Process Automation and artificial intelligence affecting the outsourcing sector?
- With the gig worker becoming more prominent, could the outsourcing industry be affected? And if yes, how?
- What do you think the region’s hope for and reliance on outsourcing, in light of current trends, is prudent?
- What types of skills do you think will be required in the region to serve the outsourcing sector over the next 5 to 7 years?
- In the Caribbean region, do you think we can prevent the chasm between our skilled labour and our semi-skilled and unskilled labour from widening? And if yes, what can we do?
- What does it mean ‘to go up the (outsourcing) value chain’, and how might Caribbean countries (in fact) go up that value chain?
- What are some of the opportunities and threats that the region ought to consider in positioning itself for the future?
- What do you think is the future of outsourcing?
We would love to hear your thoughts!
Do leave us a comment either here beneath this article, or on our Facebook or LinkedIn pages, or via Twitter, @ICTPulse.
Select links
Below are links to some of the organisations and resources that either were mentioned during the episode, or otherwise, might be useful:
- Rejo Sam
- Avasant
- ICT Pulse Podcast episode, ICTP 007: Future-proofing the Caribbean’s outsourcing industry, with Rejo Sam of Avasant
- Robotic process automation (RPA)
- Emotional intelligence (EQ)
Image credits: Mighty Travels (flickr); R Sam
Music credit: Ray Holman
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