Current Trends in Services - Essay Example

? Current Trends in Services al Affiliation: Current Trends in Services The service sector appears to have embraced a new trend following the increased rate of growth in technology. Services such as workforce recruiting, accounting services, payroll management and call center functions have followed the outsourcing and off shoring trends that are common with manufacturing companies. The use of internet has allowed the making of real-time modifications, running and downloading of reports from any source that aids in service delivery. In the current competitive environment, the capacity to efficiently, economically and legally manage a company’s service delivery is very crucial. Current Trends in Workforce Recruitment Workforce recruiting is crucial to every organization and company as it brings with it new technology and more productivity. One of the current trends in workforce recruiting is the increased rate at which people tend to find new jobs after almost every three years. Currently, it is also important that one becomes computer literate and upgrade their skills in line with the current technology. While recruiting their workforce, the employers look for someone who is capable of keeping up with the market trend. For instance, a software developer should be aware of the changes in software development that are occurring at a phenomenal rate. Another trend in workforce recruitment is the overwhelming number of women who have entered and are fruitfully climbing the corporate ladder (Hankin, 2005). Moreover, there is an upcoming trend whereby smaller businesses are recruiting more workforces as opposed to bigger companies. This can be attributed to the increased growing rate of technology. Current Trends in the Payroll Management Payroll management is an important part of every company hence most companies are always striving for better effectiveness in their payroll management. Various trends have occurred in payroll management. For instance, companies have adopted faster, inexpensive and highly productive service delivery with the use of fewer resources. There is also the use of electronic schemes for dispersing earnings, making deductions, pays slips and superannuation. Today the payroll management department ensures stronger correlation with the human resource department in order to rationalize the end- to -end process. This service sector has also adopted trends such as singe disbursement per pay cycle and circumventing of cycle payments that are done through investigation and eradication of errors. Currently, most companies are able to process payroll which include all required tax expenses, deductions and produce reports for their employees. Current Trends in the Accounting Services Currently in the accounting services there is more emphasis to shift from general accepted accounting standards to the international financial reporting standards. Changes in revenue recognition methodology have also taken place recently. This affects how particular sectors determine revenue recognition. This has significantly affected the construction industry. Current Trends in Call Center Functions One of the trends embraced today in the call center functions is the transition from traditional call center to multichannel contact center. There is also the integration of the current wide range of data and media channels thus establishing a unified call center environment as stated by Friginal (2009). This environment includes: multichannel services on joined networks; IP networks and IP-supported voice application; and Customer Relations Management and business applications. Today a customer interaction network is founded in an IP-supported architecture that upholds a constantly changing set of multichannel services. This environment includes: multichannel services on joined networks; IP networks and IP-supported voice application; and Customer Relations Management and business applications. Today a customer interaction network is founded in an IP-supported architecture that upholds a constantly changing set of multichannel services. The Trend of Service Outsourcing and off shoring In Relation To Manufacturing Trend and the Risk of off shoring Services Outsourcing and off shoring in the manufacturing sector has a long history and it has been used to reduce overall cost of goods. Outsourcing and offshore has continued to alter how services are offered around the globe. Large cosmopolitan companies have embraced off shoring as a means of providing better services according to Ramanathans (2009). Outsourcing has been adopted in the service sector, for instance it has proved very crucial in payroll management as it eases complexity of the process. However, outsourcing an ideal payroll requires knowledge on the amount of money and time to be dedicated for that purpose. Currently, there has been a change in trade as the evolution of information and technology has enhanced the ability to control outsourced services. This follows the same trend as that of outsourcing and off shoring of manufacturing companies. Due to the increased growth of technology and diversity of services outsourcing and off shoring of services has matched that of manufacturing companies although the beneficiaries are different. Benefits of Offshoring Services Off shoring of services has brought with it various benefits. For instance, it has helped in boosting the economy of affected countries due to the increased income. The offshore companies can also benefit from the greater profits they accrue following the wide range of expertise from different countries. In off shoring of services the company enjoys privacy as it does not operate locally where it is prone to media speculations. Additionally, there is protection of assets due to the foreign jurisdiction of the company. Therefore, the process of a creditor trying to acquire company services is limited. Offshoring of services gives the particular company protection against unforeseen events than it can be locally. Moreover in most cases a company off shoring services is likely to enjoy lower taxes due to the foreign jurisdiction of the company. Draw Backs of Offshoring Services In the event of offshoring services, local workers are prone to losing their current and prospect jobs hence this might lead to economic breakdown. Offshoring of services leads to migration of useful workers to countries where their skills and expertise is relevant incase their home companies have chose to offshore such services. Additionally it leads to cultural indifferences hence misunderstanding can occur affecting operation. The time difference among the countries affects communication between the offshore companies and the home company. In off shoring of services, achieving a high turnover is equal to impossible following the frequent shifting of workers and different level of expertise. References Friginal, E. (2009). The Language of Outsourced Call Centers: A Corpus-Based Study of Cross-Cultural Interaction. Amsterdam: John Benjamins Publishing Company. Hankin, H. (2005). The New Workforce: Five Sweeping Trends That Will Shape Your Company's Future. New York: AMACOM Div American Mgmt Assn. Ramanathan, T. R. (2009). The Role of Organisational Change Management in Offshore Outsourcing of Information Technology Services: Qualitative Case Studies from a Multinational. Boca Raton, Florida: Universal-Publishers. Read More