Trade
Expert Exposes
Outsourcing Myths
Cato Institute senior fellow says offshoring increases economic growth* |
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Amidst all the scary talk about the dangers of outsourcing jobs
overseas, Cato Institute's Brink Lindsey brings a much-needed
reality check.
The director of Cato's Center for Trade Policy Studies, Lindsey
asserts, "Even in good times, job losses are an inescapable
fact of life in a dynamic market economy. Old jobs are constantly
being eliminated as new positions are created."
For example, some bank tellers have been replaced by automatic
teller machines. Operators have been replaced by automatic call
menus and voice mail. These breakthroughs in technology may
eliminate some jobs, but more importantly, they create others.
"Although some jobs are doubtless at risk, the same trends
that make outsourcing possible, are creating new opportunities--and
new jobs--throughout the U.S. economy," Lindsey says.
Lindsey explains that outsourcing for efficiency is the same
as using technology for efficiency. Whether it's done domestically
or offshore, it increases productivity, which is a critical
benefit to the economy. Improved productivity benefits consumers
and spurs demand for new goods and services. This demand is
what creates new jobs.
For any firm or industry, innovation and improved efficiency
and productivity is a good thing. In cases where it renders
some jobs obsolete, ultimately it improves the economy and opens
doors for job growth in other sectors.
Where
are you on the road map
to efficiency and growth?
*Job Losses and Trade: A Reality Check, by Brink Lindsey,
3/04, see (http://www.cato.org/
pressroom), click on Outsourcing Myths Debunked.
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"Meanwhile,
despite the new offshoring trend, the Department of Labor
is forecasting a 35 percent increase in computer- and math-related
jobs over the next decade."
Brink
Lindsey, Job Losses and Trade, Cato Institute Briefing
Paper* |
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How
Outsourcing Can Increase Your Efficiency and Help Grow
Your Business
Outsourcing
is an important tool to help a business maintain an efficient
operation and provide quality services to clients at competitive
rates. It's a tool that every business uses.
No
business can perform all tasks in-house. Managers routinely
outsource activities that are not core to their business,
e.g. product delivery, advertising, and
The question every manager must ask is, "What
can be done more efficiently through outsourcing?"
Consider these two possibilities for an accounting practice,
professional firm, or nonprofit organization:
IT Management - Through a utility computing model,
even a small company can save money (30 to 40 percent
annually) by outsourcing the set up and maintenance of
a network server, daily backup, virus protection, and
software upgrades.
Benefits
include access to company files and data from any web-enabled
computer. Suddenly, it's easy to open satellite offices
or put clients on your network.
See
How Utility Computing Can Cure Your IT Headaches
Tedious
Work
- For financial professionals, this includes write-up,
bookkeeping, and tax preparation. Outsourcing these ongoing
or seasonal tasks to other professionals can free a firm
to focus on value-added services such as financial and
compliance reporting. It can also build capacity for a
firm to take on more clients.
See
How Advisor Providers Can Lift Your Burden and Enable
Growth
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