Narayan AmmachchiThe pressure coming from soaring wages and domestic talent shortages is pushing US service providers to leverage remote work oportunities and move jobs overseas.
Sending office jobs abroad is “still a trickle” but is expected to pick up speed in the days ahead, the Wall Street Journal reported, predicting that the next wave of remote work will be all about employing people from abroad.
Up to 20% of jobs in the US services sector, such as software development, human resource management and accounting, could be offshored in the next decade, the daily predicted, citing a Stanford University economist.
Wages keep rising, and companies are having trouble finding skilled professionals at home. When they look abroad, strict immigration laws remain an obstacle to bring them into the US. “Hiring abroad offers a solution,” the WSJ noted.
The years between 1980 and 2019 are considered to be the era of globalization of manufacturing. Now the same phenomenon is taking place in the service sector. This time, India is likely to play the role that China played then, analysts said.
Latin America has also been one of the main beneficiaries of this trend, the daily noted, citing the example of a Texas-based tech company hiring remote workers in neighboring Mexico.
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