We've all been following the grim headlines telling us about another round of redundancies across the UK. With the furlough scheme coming to an end it is highly likely this trend will continue.
Over in the US, they are of course experiencing similar mass redundancies for the same reasons we are. There is a debate which I have kept a close eye on. The efficiency of offshoring vs the long term benefits of basing staff in the country where you are based.
A client I work with was recently exposed to some of these risks and decided to bring more of the workforce back to the UK. In the US there are examples of this happening across companies like Apple, Black & Decker and Whirlpool.
The Trump administration is certainly making noises about bringing more work back to the US and the UK often follows suit.
One thing we have learnt during these past six months is no corner of the world is safe from risk and business leaders now need to consider which country they feel more comfortable controlling and managing the risk.
Many companies have realized that offshoring creates risks that often outweigh the incremental efficiencies.