5 Jobs Being Outsourced

AAA

With the United States struggling to lower unemployment back to levels seen before the Great Recession, a growing proportion of the population is wondering whether it makes sense for companies to send, or at least create, new jobs overseas. Here are five jobs that are experiencing this phenomenon.

Nursing

It's obviously difficult to outsource most medical functions, such as surgeries and rehabilitation activities. However, there is plenty of paperwork that moves through hospitals and doctor's offices that is a prime candidate for outsourcing. Additionally, certain nursing functions are currently being outsourced by major health insurers. Doctor's licenses don't translate easily from overseas locations, but it is easier to find qualified nurse practitioners able to accurately read x-ray results and discern other more straightforward tests and procedures.

Call Centers

Customer care calls can pretty easily be shifted outside of the United States. Recently, the Philippines has become a popular location for its call centers given its links to the U.S. and a large English-speaking population. Major computer makers, hotels and banks have outsourced call-related functions to the Philippines and other foreign locations, such as India.

Research and Development

Technology giant Microsoft recently opened a $100 million research center in Shanghai. The center is projected to employ 1,500 employees and a center in Beijing is said to be in the works. Microsoft's ambition in China is due in part to the struggles of rival Google, and its center is thought to consist of its Bing search engine employees. However, the firm continues to look to China and India for its highly-educated workforce.

Manufacturing

Large manufacturing firms, including General Electric and Boeing, have outsourced key manufacturing capabilities overseas in recent years. Until recently, China and other countries such as Vietnam offered huge differences in hourly wages that made sending manufacturing activities overseas appealing. Wage inflation has lowered the appeal of offshoring more recently, but there is a good chance these jobs won't return soon given the huge upfront costs of building manufacturing facilities in the first place.

Business Process Outsourcing

Business process outsourcing, or BPO for short, has been among the most popular job functions for outsourcing. Mundane business functions, be it accounting transactions or completing healthcare paperwork, are ideal candidates for BPO. India has been a popular destination for certain functions, as have China and the Philippines more recently. This trend has also slowed a bit recently given wage price increases in emerging markets.
Related Articles
  1. Managing Wealth

    Advance Your Career With A Finance Job Overseas

    Many finance jobs have moved overseas, creating exciting opportunities. Find out how to get in on the trend.
  2. Markets

    The Unintended Consequences of Outsourcing

    The outsourcing of labor overseas is a natural result of globalization of world markets and the drive for businesses to cut costs in order to maximize profits.
  3. Retirement

    Understanding Structural Unemployment

    Structural unemployment is an economic miss-match where workers fail to find jobs and employers with available jobs fail to find workers.
  4. Markets

    U.S. Jobs Report May Show Underlying Weakness

    The kinds of jobs added might not paint an entirely rosy picture for the world's largest economy.
  5. Markets

    10 Jobs to Avoid Right Now

    These jobs may never recover to pre-recession highs, can easily be outsourced overseas or may disappear altogether as technology intervenes.
  6. Markets

    Jobless Recovery: The New Normal Since 1990

    Just because the economy rebounds from a recession does not mean the unemployment rate will follow.
  7. Markets

    7 States with the Healthiest Labor Markets in 2016

    Find out which states are will have the healthiest labor markets in 2016. The oil states are falling, while states in the West and Northwest are surging.
  8. Professionals

    9 Different Ways To Find A New Job

    Make sure you're covering all your bases and you should have a new career in no time.
  9. Retirement

    Outsource This!: The Top 10 Jobs for Millennials

    Millennials should consider careers in these areas for better initial opportunity, job security and even solid wages.
  10. Professionals

    5 Tips for Finding Your Perfect Job Online

    With so many jobs being advertised online, it pays to know your way around an online job search. Here's what you need to know to find and land that dream job.
Hot Definitions
  1. Glass-Steagall Act

    An act the U.S. Congress passed in 1933 as the Banking Act, which prohibited commercial banks from participating in the investment ...
  2. Quantitative Trading

    Trading strategies based on quantitative analysis which rely on mathematical computations and number crunching to identify ...
  3. Bond Ladder

    A portfolio of fixed-income securities in which each security has a significantly different maturity date. The purpose of ...
  4. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  5. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  6. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
Trading Center