Driving Social Change: The Power of Impact Sourcing on India’s Rural Economy – Everest Group

Employers, training institutions, governments and other stakeholders working together to create impact sourcing An Indian movement that empowers rural residents and drives holistic social change. Learn about the benefits of impact sourcing and the role each group can play in driving this powerful business practice.

I have completely turned my attention to the transformative impact that social organization can have on rural populations. It was my first time participating in Development Dialogue 2023. sustainable solutionhosted by the Deshpande Foundation, Hubli, Karnataka, India.

I had done some basic research into the operation of the foundation, and I knew that their work would contribute to the development of the local rural economy, such as supporting farmers, start-up and small entrepreneur programs, and youth skills development initiatives. I didn’t expect to be surprised by the social impact it would have. .

Listening to a 14-year-old girl from a small village near Hubli speak confidently in fluent English with high-ranking officials such as Infosys founder NR Narayana Murthy and iMerit Radha Basu founder and CEO, I was impressed. was surprised.

This was the moment when I realized the true empowerment and impact that NGOs and organizations such as the Deshpande Foundation are having on local people. These agencies educate rural youth and equip them with work-ready communication and technical skills to improve employment prospects and boost impact sourcing in India.

What is Impact Sourcing?

Impact Sourcing involves intentionally recruiting people from marginalized communities and providing them with opportunities for career development. This practice is intended to achieve goals such as maintaining the same level of service quality and costs as before. Business Process Outsourcing (BPO) and Information Technology Services (ITS) Fulfilling corporate social responsibility (CSR), environmental and social governance (ESG), We set diversity goals for both the business and its clients, leveraging the unique assets of targeted marginalized groups.

Impact Sourcing provides opportunities for groups such as economically disadvantaged individuals, women, minorities, LGBTQ+ individuals, survivors of gender-based violence, persons with disabilities, veterans, military spouses, refugees, rural residents and single parents. Brings

Impact Sourcing in India

As one of the fastest growing economies in the world, India has rapidly expanded its metropolitan areas and developed urban areas in recent years. Almost all higher education facilities and formal sector employment opportunities are concentrated in large or first-tier cities.

Meanwhile, more than 64% of the population lives in rural areas, limiting growth options. His BPO companies in large and Tier 1 cities are facing severe talent shortages due to high turnover of contact center agents. Moving his urban BPO center to the countryside not only reduces operating costs, but also provides employment opportunities for rural people.

To deliver greater social impact through inclusive employment models, India will improve employment opportunities for rural residents, including three key stakeholders in the value chain: government support, NGOs/Training Institutions, and employers’ organisations. We need to create a policy and institutional environment for

India now needs more private organizations, NGOs and training institutes focused on sustainable rural economic and social development. An increase in impact sourcing initiatives is critical to improving employment opportunities and facilitating holistic social change. Let’s take a look at the roles each of these groups can play.

Role of technical training institutions

Prominent NGOs and training institutes working towards these goals include:

• Through Deshpande Skilling, the Deshpande Foundation focuses on primary and secondary school skill development and training, as well as tier II and III town and village graduates.
• The Anudip Foundation is an NGO affiliated with the National Skill Development Corporation (NSDC) dedicated to providing skills training to Indian youth in underprivileged communities.
• Youth4Jobs focuses on the education and employment of people with disabilities. Many similar NGOs focus on equipping unemployed youth with skills in technical education and developing soft skills so that they can find employment.

government support

In order to facilitate impact sourcing among disadvantaged rural communities, the government is coordinating the Pradhammantri Kaushal Vikas Yojana (PMKVY), the Employability Enhancement Training Program (EETP), and the National Employability Enhancement Mission. (NEEM) and launched numerous initiatives for skills development.

The NASSCOM Foundation frequently uses the mantras of ‘Technology for Good’ and ‘Taking India Bit by Bit’ to encourage private sector organizations to actively participate in creating a sustainable impact sourcing movement. I’m here.

The Need for Private Sector Participation

While some organizations such as B2R, Genpact, HGS, iMerit, IndiVillage, Infosys, Rural Shores, and Vindhya have taken steps towards impact sourcing and rural BPO, India is the leader in all major private sector organizations. Requires active participation.

Impact Sourcing provides a compelling business case for more than just “doing good”. Research shows that Impact Sourcing workers are more persistent, dedicated, hardworking and have significantly lower turnover.

Moving to rural areas not only reduces infrastructure and operating costs, but also reduces hiring and training costs, resulting in lower costs for the organization as a whole. Companies also gain community support and social recognition by practicing impact sourcing while contributing to social change.

Everest Group has committed to growing its impact sourcing workforce worldwide in partnership with the Clinton Global Initiative (CGI).through us commitment to action Under the proposal, the company will provide a platform for impact sourcing stakeholders to connect and access research on the global impact sourcing market.

If you have any questions or would like to join other organizations that have already taken this pledge, please contact us. Rita Soni and Aman Villari.

Learn more about impact sourcing trends and the driving forces behind the demand for impact sourcing in our Live LinkedIn session. What are the benefits and barriers of impact sourcing in CXM?