Offshoring for a better world is not just a business strategy; it is a commitment to creating a more inclusive, diverse, and sustainable future. Embrace this transformative approach with these insights.
Offshoring to the Philippines can be a strategic move for companies looking to improve their inclusiveness and ESG (Environmental, Social, Governance) score. Although some may view offshoring as a cost-saving measure alone, it’s important to recognize the potential for positive social impact as well.
The perception of vendor employees
One way to achieve this positive impact is by viewing vendor employees as an extension of the company. When companies work with vendors, it’s easy to view the relationship as purely transactional. By taking a much more engaged approach, companies can build stronger relationships with their vendors and create a more inclusive working environment.
Building skills and knowledge
A focus on engaging with vendor employees can be accomplished via surveys, reporting, and client training. We can help vendor employees build their skills and knowledge, which can lead to higher job satisfaction and better outcomes for clients. By soliciting feedback via surveys and reporting, we can better understand the needs and perspectives of vendor employees, which can inform our clients’ decision-making and help them create a more inclusive workplace culture.
Diversity, equity, and inclusion
Another important aspect of offshoring as a DEI (Diversity, Equity, and Inclusion) play is in addition to labor arbitrage. Offshoring has been traditionally viewed primarily as a cost-saving measure, as labor is often more affordable in countries like the Philippines than in developed countries like the United States. This perspective fails to consider the potential positive impact on local economies and communities.
By investing in offshore recruiting, companies can help create job opportunities and economic growth that can have positive social and environmental impacts. By building relationships with recruiting vendors and engaging with their employees, companies can help promote diversity and inclusion in offshore teams.
Environmental, social, and governance score
Offshoring can have a positive impact on a company’s ESG score. ESG refers to the environmental, social, and governance factors that can impact a company’s sustainability and long-term success. By promoting inclusiveness and diversity via offshoring, companies can improve their social score, which can have a positive impact on their overall ESG rating.
Companies looking to improve their inclusiveness and ESG score could benefit from considering offshoring to the Philippines. By taking an engaged approach with vendor employees and viewing offshoring as a DEI play rather than a solely cost-saving measure, companies can build stronger relationships with vendors, create job opportunities and economic growth in offshore communities, and promote diversity and inclusion in their offshore teams. By prioritizing social impact through offshoring, companies can improve their ESG score and position themselves as socially responsible leaders in their industries.