Impact Sourcing: The Smart Way to Do Business
Long gone are the days of organizations finding a cause to support… something to throw a few dollars at, pat themselves on the back and go about their day, business as usual until they have to write another check. No more throwing dollar bills at a charity – they simply can’t get away with it anymore. In today’s global economy, buyers want to do business with companies serving a greater purpose… consistently. As such, more and more organizations are incorporating a social responsibility purpose or mission into their overall business strategy.
In the outsourcing industry, the focus is on impact sourcing, which happens when organizations intentionally hire and provide career development opportunities to people who otherwise have limited prospects for sustainable employment, allowing high-potential individuals to bring their strengths to the marketplace. It can provide the start of a meaningful career path leading to a lifetime of full employment and can happen in any geography… the global community.
We believe it’s important to recognize responsible organizations employing this business model, which is why, in 2017, IAOP, along with The Rockefeller Foundation and the Global Impact Sourcing Coalition, came together to create the Global Impact Sourcing Award (GISA).
Impact Sourcing encourages inclusive employment and provides many business and social benefits. Service providers access new sources of talent, achieve higher levels of employee engagement and lower attrition rates. Supplier employees take their first step onto a career ladder that leads to economic self-sufficiency through income growth, skills development, and professional advancement.
We’d like to take a moment to recognize our second annual GISA winners, which were chosen in three categories and are as follows:
- Impact Sourcing in a Purchasing Organization: Intuit
- Impact Sourcing in a Provider Organization: Samasource (tie)
- Impact Sourcing in a Provider Organization: RuralShores (tie)
- Impact Sourcing Influencer: Harambee Youth Employment Accelerator
Each of these organizations is raising awareness, sharing best practices, testing models and measuring the progress of this socially responsible business practice. They were chosen based on the significance of Impact Sourcing to their overall business strategy, their public commitment and promotion of the model, and the actual results achieved, showcasing examples of impact sourcing where buyers partner with providers who are committed to inclusive hiring practices.
If you’re interested in getting involved with our Impact Sourcing chapter, please join our Impact Sourcing webinar on April 3rd: “A Front Row Seat to Impact Sourcing!” Take a front-row seat to a presentation given by our 2019 Global Impact Sourcing Award Winners, including speakers from Intuit, Samasource, RuralShores, and Harambee, who will share the what, how and why of their Impact Sourcing journey and programs. This will be followed by a presentation by Sara Enright, Program Director, Global Impact Sourcing Coalition.
About the Author: Kate Tulloch-Hammond is Director, Media and Communications, IAOP.