The Future of Impact Sourcing Looks Bright

Leaders from award-winning impact sourcing firms see increased adoption ahead for the business practice driven by technology, talent shortages and society’s greater emphasis on sustainability and social responsibility. Impact sourcing has come to a critical juncture and is poised to continue to accelerate, the executives predict.

Here are the forecasts by Global Impact Sourcing Award recipients: 

Kevin Parikh, Avasant Global CEO and Chairman

With the move away from globalization and more toward regionalization, impact sourcing could never be more critical than it is today. Emerging economies are growing with improved bandwidth through broadband systems designed to connect not just people, but companies and businesses together. Impact sourcing is creating opportunities in historically underserved communities throughout Africa, South, and Central America, and Asia.

With new focus backed by the ability through new broadband systems, like Starlink, along with improved 5G technologies, and the expansion of cellular networks, we will be able to connect to even the most remote communities. This will not only enable us to create job opportunities for these communities to enter the global economy but create opportunities for their families to benefit from the growth and success that the rest of the world is enjoying.

I am excited about the future of impact sourcing. I believe it sits on the bedrock of a new form of connection that is bringing connection to the smallest of communities and integrating these minorities into what we see as the rising global economy.

Alfredo Gersava Jr., Chief Marketing Officer, Virtualahan

In today’s rapidly evolving technological landscape, impact sourcing is emerging as a promising solution to address the high unemployment rate among People with Disabilities (PWDs) in the outsourcing and freelancing industry. With the ability to work online and remotely, PWDs can now access new job opportunities that were previously limited by physical barriers. However, the future of impact sourcing is not without challenges. As automation and artificial intelligence continue to advance, there is a looming concern about potential job displacement for PWDs and other vulnerable populations.

Despite the uncertainties, there is a growing consensus that the key to ensuring a bright future for impact sourcing lies in our ability to help talents with disabilities become competitive in the job market. Now more than ever, it is crucial to increase support and investment in organizations that focus on upskilling PWDs, equipping them with the necessary skills to thrive in the digital economy.

Furthermore, the success of impact sourcing depends on our collective commitment to creating an inclusive world. By fostering an environment that embraces diversity and empowers individuals with disabilities, we can harness their unique talents and contributions, making a positive impact on businesses, communities, and society at large.

As we navigate the ever-changing landscape of technology and work, it is imperative that we prioritize the inclusion and empowerment of PWDs in the outsourcing and freelancing industry. With the right support and investment, the future of impact sourcing holds tremendous potential to create a more inclusive and equitable world for all.

Pam Sands, Vice President – Diversity Office, Kelly

Overall, impact sourcing is likely to continue growing as a business practice that contributes to social and economic development while meeting the needs of businesses. This is what we see ahead for the future of impact sourcing:

• Increased adoption: As businesses focus on sustainability and social responsibility, impact sourcing is likely to become a more popular practice. More and more companies will adopt impact sourcing as a way to contribute to social and economic development while also meeting their business needs.
• Technological integration: Impact sourcing is likely to incorporate more advanced technology and automation to improve efficiency and productivity. The integration of technology will provide a platform for remote work, making it possible to tap into a more diverse pool of talent from different locations.
• Skill development: There will be a greater emphasis on skills development programs to enhance the capabilities of impact-sourcing workers. This will enable them to take on more complex and high-value tasks and provide better-quality services to clients.
• Focus on diversity and inclusion: Impact sourcing will place a greater emphasis on diversity and inclusion. This will involve hiring and training people from diverse backgrounds, including people with disabilities, women, and refugees, among others.
• Increased demand for ethical sourcing: With more consumers demanding ethical and sustainable practices from businesses, there will be an increased demand for impact sourcing. Companies that adopt impact sourcing will be more likely to attract socially-conscious consumers and improve their reputation.

Olivier Camino, Global COO and Co-founder of Foundever

Impact sourcing is about creating true social change and impact for many. In terms of the future of impact sourcing, we believe it is our responsibility as a global employer to provide educational opportunities to support individuals, especially in distressed communities, with language and basic skills, technical skills and more to help people obtain a meaningful career. Also, partnerships are a key driver in the future of impact sourcing. Championing initiatives with complementary partners will drive an even bigger impact.

Dhiraj Dolwani, Chief Executive Officer, B2R Technologies

“In the near-term, the future of impact sourcing looks promising as more businesses experience the leverage of their procurement power for social impact, especially the positive influence of impact sourcing on diversity, equity and inclusion. In the longer-term, we envision a future where impact sourcing is no longer seen as a niche or specialized activity, but rather as a standard business practice followed by corporations, which contributes to sustainable development and shared prosperity.”