Canadian Outsourcing Poised for GrowthFebruary 8, 2010
Canada’s outsourcing market will expand to $15 billion by the end of the year, market intelligence company IDC Canada says.
The market for outsourcing is $5.5 billion at present, ITBusiness.ca reports.
Added interest in sourcing will come from distribution and manufacturing firms, the research firm predicts. Financial and telecom companies turned to sourcing in greater numbers last year, while retailers, manufacturers and wholesalers were relatively uninterested.
Canadian service providers looking to compete with low-cost firms in emerging markets need to have a global reach to truly level the playing field, Prima Management Consulting president Frank Hart said in a recent webcast.
Firms may also want to consider how best to attract top talent in the sourcing arena. Bonuses are one way to increase workers’ interest in a company, experts suggest. According to compensation data provider Towers Watson, the average bonus for a Canadian IT worker was 8.7 percent of base salary. Forty-nine percent of IT professionals received a bonus last year, the company said.