The year 2020 was unlike any other. The global pandemic accelerated “work from anywhere” which boosted technology demand across all industries. The impact was so great that Goldman Sachs confirmed The Third Wave of Outsourcing has arrived – a three-year technology upgrade that will disrupt the business world.
The Third Wave of Outsourcing started in 2018 but the COVID-19 global pandemic forced it to rapidly speed up. Overnight, companies had to translate their entire business models online. Every company, regardless of size, was forced to work remotely for their own health and safety. This taught us that commuting isn’t necessary to be productive.
In fact, Goldman Sachs predicts even greater productivity and profit due to the Third Wave of Outsourcing. We can expect a large-scale shift to the cloud, the building of applications in the cloud native world and collaboration between IT service providers and customers. Businesses will no longer be limited to the talent pool that resides within the proximity of their office. Instead, they can access the world’s best talent to find the best fit for their company. These changes are predicted to bring about 13.1% and 9.7% revenue growth for 2022 and 2023, respectively.
These exciting changes present unparalleled opportunities for employers and job seekers alike. With everything online, businesses from the United States can easily interview and hire a candidate from the Philippines seamlessly and with the same amount of effort they would exert to hire someone locally. To adapt to these changes, it’s important to have an efficient support team and a diverse group of talent in terms of gender and culture. This will ensure keeping up and competing with the global business trends.
Building the Right Relationship
Outsourcing is about managing a relationship rather than just service-level agreements. The goal is to build a partnership, not another purchasing project. Finding the right partner is crucial as outsourcing service providers play a crucial role in the operations and success of your company.
The Third Wave of Outsourcing values people and skills. It’s all about looking beyond borders and resumes to find the best match for your team. While it may seem like more work at first, it quickly pays off as the team members recruited show the attitude and drive to help you succeed. Third Wave Outsourcing is a win-win solution as it ensures the individual’s personal growth and the company’s increase in efficiency and profit.
Partner vs Vendor
Securing and maintaining a trusted relationship is essential for outsourcing efforts. The Third Wave of Outsourcing stress the difference between a partner and a vendor. Don’t mistake one for the other. They mean very different things. While hiring a team member through a vendor may get the job done, it isn’t the same as having someone who is invested in your company’s success for the long haul. That’s why finding and taking care of such partners adds so much value to your organization.
What is Culture Fit?
Teams, not individuals, are the future of work. Every person has their own set of beliefs and values. When these individuals come together, they make the teams that determine the success or stagnation of your business. The world is flatter than ever and people from varied backgrounds are bound to work together in the digital office.
You don’t need to find people who are exactly alike. Instead, you need to find a team that complements each other, fitting together like pieces of a puzzle to form a winning work culture. Thus, culture fit is the most important quality to seek in the Third Wave of Outsourcing.
Culture fit refers to the match between work culture and personal culture. It ensures that both the partner and employer will be happy as their attitude and values complement each other. It goes beyond speaking the same language. Rather, it is more about having the same values. Culture fit is what creates great work synergy and leads to lasting, successful partnerships. Without this, you are left with a team that cannot cooperate and harmoniously functions.
Culture fit is about matching partners with your work culture and values. It’s critical to ask to identify the most important values for your organization and seek the people who share the same or similar beliefs. This goes both ways. Your potential partner is also looking for a company whose culture matches his or her personal beliefs and attitudes. Therefore, it’s important to lay down your company’s culture early in the recruitment process to set expectations straight.
Finding the Right Culture Fit
In Third Wave of Outsourcing, culture takes a more proactive role. It aims to create a culture fit by respecting and appreciating the diverse personal cultures in the workplace. As a result, you and your partner create better work synergy.
Respecting and appreciating cultures is an important aspect of The Third Wave of Outsourcing. Thus, diversity plays a huge role in this business disruptor. Diversity in the workplace doesn’t need to be pretentious or forced but rather takes place as a natural effect of the global tech landscape. Diversity in the Third Wave of Outsourcing means hiring the best talent, regardless of their gender, race, and other factors. By not letting stereotypes or biases dictate your thinking, you help your company win and take a big step forward. This builds a stronger and more confident team.
However, having so many kinds of people work together also poses some challenges. According to the Harvard Business Review, as organizations struggle to solve more complex problems at a faster pace, cooperation and trust between employees is increasingly important. For people to feel comfortable suggesting innovative ideas, they need to know they will be supported, not criticized. They need to be confident that they’re working with people who understand their feelings.
The best way to accomplish this is by building empathy and compassion. These two qualities naturally grow as humans recognize their commonalities with one another. In a culturally diverse workplace, this can be harder to accomplish than a traditional workplace with members coming from more or less the same background. To build this sense of similarity, culture fit is one of the most important qualities to consider while growing your team.
Advantages of Culture Fit
- Better Work
There are many benefits to finding the best culture fit for your organization. First, finding the best culture fit assures you of better work. Culture fit in Third Wave Outsourcing is more refined and polished than the previous mindset used to hire employees. When using culture fit as one of the major criteria to choose the best job applicant, you have greater chances of finding the best talent that can bring the best work to the table. Finding a partner that aligns with your values and attitude.
When the company culture reflects your partner, they will gain the confidence they need to stay on as an empowered partner. They retain the positive motivation and engagement to work hard, helping the whole team succeed. Aligning your values and work culture helps you in the long run.
As the partners feel empowered in their role, they develop loyalty to the organization. Your outsourced partner needs to feel connected with the company and satisfied with their work. This helps keep them in the organization with a fruitful, long-lasting relationship.
- Cohesive Team
When your entire team has the same core values, it helps your business function well. Culture fit helps steer your team towards the same goals. It also helps settle disputes more easily as you respect each other’s points of view and boundaries.
Culture fit helps ensure that everyone is willing to hear each other out. Opinions and views are accepted without judgment. When you share the same values, communication improves and work becomes easier.
Do You Fit with Your Partner?
At the end of the day, the success of any partnership in modern outsourcing boils down to values. Given our understanding of the crucial role that diversity and culture fit play in building a healthy, productive workplace, it is important to take the time to know your partner’s values before establishing a relationship with them.
Before engaging with a partner, make sure that they also value talent the same way as your business.
In the Third Wave of Outsourcing where partners are valued, are you sure that you share the same values? Here are the questions to ask to see if your partner is the right fit for you.
- Are You Familiar with Their Past Work History?
Find out why they left their previous work and if there were clashes. Knowing your partner’s past work history helps you know if they fit with your work culture or not.
- Do You Enjoy the Same Work Environment?
People like to work under different circumstances. Some thrive under pressure and enjoy constant supervision, while others prefer to stay calm and independent. Make sure that you’re a match especially because you will be working together remotely.
- Do Your Values Align with Theirs?
It is just as important for your potential partner that the organization’s goals match their own. Culture fit is about matching your workplace values with the values your partner shares. Get to know what they think, feel, and believe.
Culture fit is so important, especially in finding partners that will work with you for a successful business. Understanding and identifying culture fit while seeking worldwide talent goes a long way in helping you and your company win.
Learn more about Third Wave Outsourcing and how you can maximize it for your business. Don’t remain in the ways of the past. Join the global entrepreneurs who have access to the best global talent. ORDER THE E-BOOK NOW.