Sample Term Paper
Outsourcing of HR services has become a common and lucrative business practice by large and small companies alike. It accounted for $220 billion in contracts in 2007 and that number has continued to grow. Companies who wish to simultaneously grow and maintain their competitive edge in today`s global economy have to keep pace with evolving management skills and practices. In the 2000s, a number of organizations have considered outsourcing as one way to control resources, provide quality service, and measure and manage its affairs in a businesslike manner (Alexander, 2006; Grupe, 2007). Outsourcing itself is not a new concept as organizations have for years contracted with external suppliers to provide array of services.
Outsourcing is defined as the strategic use of outside resources to perform activities traditionally handled by internal staff and resources. Outsourcing requires a company to enter into a contractual commitment to have services provided without actually having to own the physical resources that generate these services (“Outsourcing”, 1999, pp.72-74). The reasons for undertaking outsourcing may be many and varied. Outsourcing is mainly sought for services that are considered supplementary to the core business activities. The philosophy of outsourcing is that a specialist organization may be able to carry out a particular service more efficiently than through in-house provisions (Outsourcing Institute, 2007). The other most cited reason for outsourcing is to reduce costs by reducing the need for salary, benefit, and related facility and technology expenses.
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