Outsourcing is not the answer to reducing operating costs, according to the CEO of global insurance firm Zurich, whose view contrasts with that of many of his peers in large finance companies. Mario Greco said outsourcing is not socially sustainable, as a firm is forced to move its operations from one location to another. He added that the practice is overall a bad idea, as it removes jobs back home, reduces the company’s level of control, and tends to involve high staff fluctuations. Greco said he is looking at increasing the dividend he pays his shareholders by increasing the company’s profit, but said he will not decrease his workforce. He said Zurich Insurance stopped outsourcing two years ago and has since brought most administrative functions back to Zurich.
Join the world's premier outsourcing community
Get the world's leading outsourcing news summary, Inside Outsourcing, delivered to your inbox each week, for free. Plus, benefit from being a part of the fastest growing outsourcing community.
- Breaking news: daily web updates with outsourcing sector updates
- Newshub: Browse over 4,000 outsourcing industry news items
- Access: get outsourcing white papers, guides, articles, videos and podcast episodes
- BPO community: join our extensive outsourcing community
- Cancel anytime: zero obligation, no spam, just great information