Outsourcing is delegating a part of internal company functions to an outside company to get more specialized work done at a lower rate. The outsourcing company can be in the near vicinity or can be miles away across in some other continent. Once the work is outsourced a business relationship is developed between two parties. Business relationships are normally formal and monetary but the values, morals and ethics play a significant role in building them and maintaining them.
It is always advisable to do business with ethical organizations as it has a direct influence on the overall functioning, progress and the public image of a business. A crisis is the best time to identify the ethics of the outsourcing partner. The support and the assistance by the outsourcing partner and the resolution of the crisis through mutual understanding ensure the smooth running of the business. Data privacy is more than just good practice; it's the law which is the core concern of outsourcing ethics. While outsourcing a lot of company’s information is shared with the outsourcing partner which needs to be highly protected. Government regulations like HIPAA require organizations to comply with data privacy laws. If your outsourcing partner does not have adequate measures for the security of the data than its time to look for some better option. An outsourcing agreement with all the legal moral and ethical issues specified would be the safest option.
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Outsourcing involves a lot of risk as a part of company's task is transferred and a small delay or mishap can lead to loads of losses to either of the parties. Identifying an ethical business partner is important and so it is always advisable to check the reliability, validity of the outsourcing partner before hand. A thorough research about the company is essential before entering into any contract. The company's experience, which include the kind of clients they have catered to and the number of projects they have handled, profile of the company's board of directors and their key people, and ensuring that your solution provider is financially secure can help to give a better idea about the company's stability. Clear and open communication can give a good idea about how ethical the organization is. The type of documentation and companies polices also give a good picture about the company's reliability.
Benefits of an Ethical Outsourcing Partner
- The amount of risk involved while outsourcing is reduced to a large extent. The risk is shared and managed together
- A proper and smooth flow of information which would ensure smooth running of the business.
- Increase in the profits as they have a common focus and a target which can be easily achieved through mutual co ordination
- The cost of maintaining the project and the relationship will be reduced to a large extent.
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