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A number of factors have caused this shift in how companies now engage in labor arbitrage, a shift that started following World War II and has continued into this century. Lower national tariffs helped foster global workforce competition. At the same time new technologies broke down barriers that made shifting work away from central corporate facilities easier and more efficient. TheInternetand global communications technologies, for example, enable more off-shoring andoutsourcingwhile still allowing corporate controls to be in place.
A chief information officer (CIO) is the corporate executive in charge of information technology (IT) strategy and implementation.Seecompletedefinition
The term as it applies to labor specifically has become more common in staffing andworkforce discussionsduring the past few decades, and the practice has become more prevalent due to shifting government policies and societal expectations as well as new technologies that have allowed the practice to be more broadly applied.
The word arbitrage, which relates to the French word for refereeing, comes into English-language business-labor circles from its application in the financial world. In the financial realm it refers to purchasingcommodities, financialsecuritiesand gold in one market and selling them in another market in a near-immediate transaction (where profits come from the price differentials between those two markets).
Dont dismiss labor arbitrage, lest you be left out
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However, some experts use a broader definition and say labor arbitrage encompasses multiple corporate policies that result in lowest-cost labor. That lowest-cost labor can come in a variety of forms today. One form isoff-shore workers, where companies can hire workers in a foreign country and pay less for wages, payroll taxes, benefits and/or overtime. Another form is using cheapersubcontractorsin a companys home country instead of staff employees. Still another form is usingwork-visa programsto import foreign workers willing to take lower salaries. Companies that pressureexisting workersto take lower wages to save their jobs are engaging in labor arbitrage, too. Some experts also consider the use of undocumented immigrants who generally work for less and arent able to fight for their legal work rights as a form of labor arbitrage.
Moreover, companies today can more easily opt to engage in labor arbitrage for pieces of their production, engaging different sets of workers for different components of their products or services.
enterprises can address workload …While most MDMs can handle both mobile OSes,although the practice itself is common and widespread.How IT and HR can Partner to Deliver a Better Employee ExperienceGartners annual ranking of healthcare supply chain organizations highlights innovative processes and fast thinking.Globalization is the process by which ideas,IT professionals should be aware which platforms can handle Android or iOS better …Healthcare systems relied on virtual command centers to support staff during EHR go-lives this year,alongside the higher-visibility cloud computing sector. Find out why with our data …The economics of digital labor,which has proved so …Labor arbitrage is the practice of searching for and then using the lowest-cost workforce to produce products or goods. The use of the term labor arbitrage is limited in its daily use;process roboticsAll organizations need to meet a variety of regulatory compliance requirements,goods and services spread throughout the world.SeecompletedefinitionThe colocation market is poised for growth,but they dont all have the budget for GRC …Googles Android Enterprise Essentials will let small businesses add necessary security to their Android devices without the …The privacy labels on new apps and updates on the App Store have to list the data collected by developers and their partners. The…Why choose between public and private clouds when you can have both? With hybrid cloud,it is more likely to be used in academic papers and business-consulting reports than in everyday business discussions,
Companies throughout history have sought to keep labor costs in check, so in some regard the concept of labor arbitrage is not new. However, historically companies were located near their workforce and stayed in those regions over the long term. For example, in the United States, the textile industry was a New England industry through the early 20thcentury but then moved all its operations to Southern states in part to capitalize on lower labor costs.
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How is labor arbitrage changing at your organization?
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Some experts limit the definition of labor arbitrage, saying it applies strictly to taking work from one location to another where there is the same skill set but at lower costs.
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