Labor outsourcing from "summary" of Globalization by
Labor outsourcing is a practice where companies hire external workers to perform tasks that were traditionally carried out by their own employees. This process involves contracting out certain functions or processes to third-party service providers, often located in countries where labor costs are lower. By outsourcing labor, companies can reduce operating costs, increase efficiency, and focus on their core business activities. One of the main reasons companies opt for labor outsourcing is to take advantage of cost savings. By hiring workers from lower-wage countries, companies can significantly reduce their labor expenses. This is particularly beneficial in industries where labor costs make up a large portion of overall expenses. Additionally, outsourcing allows companies to access a larger pool of skilled workers, especially in specialized fields where talent may be scarce domestically. Another key benefit of labor outsourcing is the flexibility it offers companies. By outsourcing non-core functions, companies can adapt ...
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