Welcome to SPN

Register and Join the most happening forum of Sikh community & intellectuals from around the world.

Sign Up Now!
  1.   Become a Supporter    ::   Make a Contribution   
    Target (Recurring Monthly): $200 :: Achieved: $98

1000 jobs offshored = #10 mn saved!

Discussion in 'Interfaith Dialogues' started by drkhalsa, Jan 25, 2005.

  1. drkhalsa

    Expand Collapse

    Sep 16, 2004
    Likes Received:
    1000 jobs offshored = #10 mn saved!

    PTI | January 24, 2005 | 17:54 IST

    British companies save a minimum of ��10 million a year for every 1,000 jobs they move offshore, particularly to India, an�estimate by ICICI OneSource, an outsourcing agency of India's ICICI Bank said.

    As India produces more graduates per year than any other underdeveloped nation in the world, most call center advisers are aged between 20 and 25, said the Daily Telegraph, which quoted the ICICI study for its report on outsourcing.

    Sean Egan, chief operating officer for offshore services at Norwich Union's parent company Aviva, said cheaper labour was not the only reason for companies turning to India.

    "The work ethic is tremendous. It is partly cultural and reinforced by the education system and values," he said.

    "They have a high competitive attitude and status is much more important. Everyone knows what everyone earns."

    The Telegraph report said that according to Britain's Communication Workers Union, 33 large companies, including Barclays, British Airways, Lloyds TSB, Prudential and Reuters, have collectively outsourced 52,000 jobs serving UK customers to India.

    Norwich Union, Britain's largest insurer, has built up a workforce of 3,700 people in India and plans to hike it to 7,000 by 2007, the report said.

    Three years ago consultants Accenture reckoned 65,000 jobs in Britain's insurance industry alone would be moved overseas over the next decade but many experts now believe that figure to be conservative.

    Trade union Amicus has predicted that 200,000 jobs could be outsourced by 2010.
  2. Loading...

Since you're here... we have a small favor to ask...

More people are visiting & reading SPN than ever but far fewer are paying to sustain it. Advertising revenues across the online media have fallen fast. So you can see why we need to ask for your help. Donating to SPN's is vote for free speech, for diversity of opinions, for the right of the people to stand up to religious bigotry. Without any affiliation to any organization, this constant struggle takes a lot of hard work to sustain as we entirely depend on the contributions of our esteemed writers/readers. We do it because we believe our perspective matters – because it might well be your perspective, too... Fund our efforts and together we can keep the world informed about the real Sikh Sikhi Sikhism. If everyone who writes or reads our content, who likes it, helps us to pay for it, our future would be much more secure. Every Contribution Matters, Contribute Generously!

    Become a Supporter      ::     Make a Contribution     

Share This Page