Outsourcing is not a new concept and quite familiar to many companies. In today’s scenario, it is becoming more widespread and it is not surprising that this is a popular road of doing business. Various companies believe that this is an appropriate option to meet their computing, software and web content needs. Many of these jobs are outsourced to developing countries like India, Bangladesh and Nepal, a popular center of the most advanced international outsourcing community.
However, it is not without problems. It is negatively affecting businesses all over the world, resulting in high unemployment, loss of income and loss of competitive advantages. The effects of outsourcing have made it even more difficult for people who are below the poverty line, who are ready to perform minimally skilled jobs to find employment. The Possibilities are like, it can lead to levels of poverty that have not been witnessed since the recession of the 2010, resulting in reduced consumer spending and tax revenues to the government.
Since, the outsourcing company is turning the management and control of its operating departments to a foreign entity, the loss of managerial control may arise. In the absence of appropriate legal agreements, issues of ownership and misuse may also arise.
The threat to security and confidentiality is another issue because the information transmitted, such as medical records, pay slips and other confidential information may be compromised and hackers can easily steal your personal information.
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