Everest Group exceeds impact sourcing targets in 2024

Global research firm Everest Group has announced the achievement of its Commitment to Action to increase impact sourcing in the tech services industry from 350,000 to 500,000 over a two-year period.

During the Clinton Global Initiative 2024 Annual Meeting in New York, Everest Group revealed that preliminary figures for 2024 suggest impact sourcing numbers could reach between 505,000 and 535,000.

Rita N. Soni, Principal Analyst for Impact Sourcing and Sustainability at Everest Group, stated: "The technology and tech services industries are such a source of inspiration for innovatively executing impact sourcing practices across the globe and improving the lives of millions from marginalised communities."

Impact sourcing is a strategy that employs individuals from disadvantaged or marginalised communities, and Everest Group has committed to extending this effort to 1 million individuals by 2030.

The group is focused on creating positive outcomes, using extensive research, enabling tools, and promoting an inclusive talent strategy with enterprises, service providers, governments, NGOs, and other entities.

"The added beauty of this inclusive talent strategy is that it has business benefits for the employers and their clients, the quintessential double bottom line! We are proud to be joining the 60+ companies representing every industry, located in every continent, and including every marginalised group, to really make a difference throughout," said Soni.

Insights from past successes include reduced attrition rates and greater engagement among impact workers, who tend to remain with the hiring organisation longer than traditionally hired employees.

There has also been a noted expansion in digital domain expertise, with more opportunities arising in data labelling and annotation services due to the increasing demand for artificial intelligence and machine learning technologies.

The programme has seen a rise in higher employment rates for underserved women, people with disabilities, and un/unemployed youth, with 56% of the current impact-sourcing workforce being female and 70% under 30 years old.

Everest Group's research indicates that impact sourcing is key to fulfilling the United Nations Sustainable Development Goals and is proving successful in the global economy.

The initiative is gaining traction with businesses that are beginning to see the value of hiring and developing talent from economically disadvantaged or socially marginalised communities.

While significant strides have been made since 2022, Everest Group emphasises the need for continued high-level work and support to achieve the target of 1 million impact-sourced employees by 2030. The organisation calls for support from those who wish to contribute to this goal.