Offshoring to benefit UK
British companies are under growing pressure to shift jobs offshore as competition from emerging economies heats up, the Confederation of British Industry warns today (Monday).
British companies are under growing pressure to shift jobs offshore as competition from emerging economies heats up, the Confederation of British Industry warns today (Monday).
Link: Royal & Sun Alliance joins offshore exodus
But instead of fearing the phenomenon, the CBI argues that the benefits of offshoring outweigh the drawbacks, saying the move will increase productivity, profitability and economic growth for the UK.
A significant 51% of respondents to a MORI survey commissioned by the CBI and electronic goods specialist Alba, said pressure to outsource has increased over the past two years. And 30% said they have already shifted some parts of their business overseas, with almost one in four considering doing so in future.
Findings also show the trend to offshore is now spreading beyond manufacturing and call centre jobs to information technology, financial services, design and research and development.
Speaking in Birmigham at the CBI annual conference, Digby Jones, CBI director general, said: ‘Offshoring is now part and parcel of doing business in the global economy.
‘Make no mistake, this is a survival issue. Anyone who believes that firms have a great deal of choice is na‹ve. Companies know if they don’t do it, somebody else will. If competitors act and they don’t respond, they may put their business at risk.’
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleThe ICAEW confirms new vice president, with senior heads appointed at KPMG and EY. Within the mid market, a flurry of end of year partner appointments...
View articleKPMG confirms reappointment of it's UK chair, while EY announces Janet Truncale as the next EY global chair and CEO Read More...
View articleThe ICAEW has announced the appointment of its forthcoming chief executive Read More...
View articleThe FRC has announced Richard Moriarty as its new chief executive, replacing Sir Jon Thompson Read More...
View article