14 Aug Sourcing meets Humanity Meets Good Business
What is Impact Sourcing
Simply put, Impact Sourcing pairs disadvantaged people with training and work. Let’s elaborate…
Impact Sourcing is the inclusive employment practice through which companies in global supply chains—to deliver business outcomes—intentionally hire and provide career development opportunities to people who otherwise have limited prospects for formal employment.
This business process service delivery model provides quality and cost at parity with traditional BPO services but with optimized enhancements. These 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 fulfill corporate social responsibility and diversity objectives while operating within a traditional BPO framework. (1)
Sourcing Meets Humanity Meets Good Business
As a long-time supporter of Impact Sourcing and Corporate Social Responsibility, IAOP and several of its leading members have joined with the Rockefeller Foundation and Global Impact Sourcing Coalition (GISC) to raise awareness, share best practices, test models and measure the progress of this socially responsible business practice.
The importance of Impact Sourcing—as both a good business model and a socially responsible way to do business—has been known for years. Today, with a much more global focus, the practice is gaining momentum. There was very strong interest during OWS17. That said, the goal of this alliance is to build more inclusive global supply chains through hiring and providing career development opportunities to people who otherwise have limited prospects for formal employment.
Why Should We Care About Impact Sourcing
In six words… Job Creation. Community Building. Global Transformation.
There is a compelling business case for Impact Sourcing, which allows for the least-developed communities of the world to connect to the global economy. Impact Sourcing offers employees their first step onto a career ladder that leads to economic self-sufficiency through income growth, skills development and professional advancement.
In the past, Impact Sourcing existed to create jobs in emerging markets or underserved communities; the coalition’s definition has expanded to reflect the full diversity of inclusive hiring practices across all industries and geographies. Including the long-term unemployed, informally employed and first-term job seekers, it is as much about offering employment for job-seekers in the Rust Belt of the U.S., military veterans or Native Americans, as it is for disadvantaged youth in Africa or refugees. (2)
Examples of Impact Sourcing in Practice
- Creating jobs in underserved communities or emerging markets where high unemployment exists
- Intentionally hiring workers who have fewer prospects for sustainable jobs and providing them training
- Hiring people with disabilities
- Hiring women where there is a disproportionately high unemployment rate for women
- Creating a positive impact on local communities by creating employment opportunities
- Earn-while-you-learn training programs
- Creating job opportunities for refugees or rescued victims
Global Impact Sourcing Award
IAOP, in partnership with the Rockefeller Foundation, is launching a new award to recognize industry professionals who are leaders in Impact Sourcing. The Global Impact Sourcing Award will be presented annually at the Outsourcing World Summit, starting at OWS18 in Orlando. Leadership teams from customer or provider organizations from all sizes are eligible to self-nominate through an online application. IAOP membership is not required to apply. Click here for more information.
1 Definition of Impact Sourcing from Global Impact Sourcing Coalition and Everest Group
2 PULSE Magazine, March/April 2017, Global Impact Sourcing Makes an Impression at the Summit
by Kate Tulloch-Hammond,
Director, Media & Communications, IAOP[/vc_column_text][/vc_column][/vc_row]