The World Bank estimates show at least 2.1 billion people in the developing world are surviving on less than US $3.10 a day. In Zimbabwe, the Zimbabwe Congress of Trade Union (ZCTU) suggests an unemployment rate of 90%. One of the highest in the world.
Half of the world’s poorest people live in sub-Saharan Africa and this translates to a cycle of poverty that can persist for generations. One way to reduce inequality is ensuring the poor and vulnerable have access to formal employment.
Impact sourcing is an inclusive business process service delivery model that intentionally hires and provides career development opportunities to people who otherwise would have limited prospects to formal employment. The advantages include:
- A qualified, trained, untapped talent pool with skill sets aligned to match client needs;
- Lower attrition rates and higher corresponding levels of employee engagement; and
- Opportunities to fulfil corporate social responsibility and diversity objectives.
In short, impact sourcing creates shared value which is defined as the practice of creating economic value in a way that also creates value for society by addressing its needs and challenges.
Impact sourcing has been adopted in Africa (Egypt, Ghana, Kenya, Nigeria, Morocco, South Africa), India, and The Philippines with a notable 235,000-245,000 FTEs.
Benefits to Your Business
- Reduced Costs
- Low attrition rate due to high loyalty and commitment from employees results in optimum service delivery.
- Quality Services
- Access to a highly motivated workforce leads to professional and remarkable results.
- Qualified and Untapped Talent Pool
- Highly trained English speaking talent pool, with the necessary skills.
- Social Impact
- Your organisation gives bottom of the pyramid individuals access to a decent job that pays a living wage, delivers job security, and provides stable income to families.
- Today’s consumers are interested in companies that have social impact woven into their DNA.
Delegate Lower Complexity Digital Work to Skilled Staff
The new digital economy has created borderless employment opportunities. Individuals in the developing world have the skills to work and compete in the global marketplace.
With a job and a stable income, workers are able to provide for the basic needs of their families, help support younger siblings through school, build up a savings account, and launch careers as young, dignified professionals.
Tasks that you can outsource to Skilled Staff
Companies can outsource the following non-core and routine tasks:
- Data Processing
- Online Customer Service
- Online Marketing
- Social Media Management
- Administrative Support