What is Outsourcing?
Onshoring | Nearshoring | Offshoring
What is Onshoring?
The company will transfer their business or IT processing to another third party company which is based in the same country. The company can easily acquire a highly skilled worker that has no language nor cultural barrier at all but the cost is not cheaper compared to offshore or nearshore laborers.
What is Nearshoring?
The company will transfer their business or IT processing to an outside country that is near them or simply a border away only. It is beneficial in terms of distance, time zone, same culture and language skills in a nearby country, and some cost-savings only compared to offshoring.
What is Offshoring?
The company will transfer their business or IT processing to any different countries. It is an advantage of acquiring a highly qualified skilled laborers in a foreign country although with different culture and language and yet you will get a higher cost-savings. Meaning you can make full use of reduction in costs. Imagine the cost of searching employees, compensation, benefits, retirement, insurance, and unexpected costs.