December 22, 2006
My Two-Bit Prediction For The Industry
By Priya Jestin, Staff Writer
Predictions are what most people are good at. At the end of each year or financial year, we see this huge array of predictions from self-styled experts in the field. While some of them may have really done their bit of research to arrive at their conclusions, most others are just trying to get their moment in the sun.
Well, whatever be the case, let’s take a look at what the predictions for 2007 and the next few years are:
Firstly, India has become everyone’s favorite dartboard. So just about everyone is rushing to predict how India will cease to lead the outsourcing market in the next few years. Princes in waiting for the crown of outsourcing king include Israel, China, Russia and the Philippines. What most of these guys don’t realize is that India was never leader and the outsourcing industry cannot be clubbed as one single market. It has software, hardware, HRM, KPOs, BPOs, and well… many other Os. What my point here is how can we put it so simplistically?
Did anybody know that the outsourcing phenomenon would become so big? Did we realize ten years ago that many, many people will lose their jobs and that we might need to learn new trades in order to earn money? As the saying goes, there’s only one thing constant: change. So, probably, we may see a resurgence of jobs at home. But then here too predictions come in the way to play spoilsport. According to some ‘gurus’ in the field, tightening U.S. labor supply in technology, accounting and other processes, will force U.S.-based companies to accelerate their outsourcing strategies to stay competitive.
So, what happens if policies change? Recent news has it that the Democrats, alarmed with the rising student loan costs, are planning to reduce the rates. That might happen in the near future. So our doomsday fears of students being unable to bear the burden of debt may be misplaced after all. So what says, a policy change occurs, one that makes US companies realize that operating from home base is better? And yes, I’m being simplistic about it, but you never know. It could happen.
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