Can New Jersey (US) and Kent (UK) compete with traditional outsource locations?

17 November 2014

Every year thousands of women leave the city as their current employers just can't offer a workable solution to the acute work life balance challenges faced by many parents. It's not so much that they choose to 'give up their careers' but more that they have no real alternative.

The result; gender imbalance in Wall Street and the City of London, a loss of significant talent, unproductive resource in the economy and, perhaps most importantly for the individuals concerned, some very personal stories of lack of fulfilment, being torn between family and a career and often resignation about not being able to continue in a career about which they are passionate.

E2W have proven by offering these talented, exceptional, experienced women flexible and agile employment from office locations close to their homes and children’s schools they can be attracted back into the workplace in their droves. 

But can they compete with traditional offshore locations? "Yes", says Mark Freed co-founder of E2W.  "It makes absolute business sense to bring some, particularly more complex and/or sensitive functions, back to 'Just Down the Road' locations, whilst others that have proved impossible to offshore could also be successfully delivered 'Just Down the Road'". 

The arguments are compelling:-

Cost

The costs of 'Just Down the Road' can be surprisingly competitive with low-cost offshore destinations, particularly where knowledge and experience are required. ‘Just Down the Road’ brings additional cost benefits in relation to reduced currency risk and oversight associated with offshoring.

Outcomes

Outcomes can be significantly better ‘Just Down the Road’. Highly qualified, local resource in the same time zone who understand the investment process and culture provide better results. Local resources with 5-15 years knowledge and insight from previous roles within the Capital Markets space rapidly add value and expertise.

Oversight and Regulation

Being 30 minutes away and from the same cultural background significantly decreases the burden and challenges of oversight.  Working within the same jurisdiction reduces the need for regulatory oversight.  

Time to Market and Flexibility

From small scale operational projects where short term resource is required (resource augmentation) to complex business processes, ‘Just Down the Road’ is quicker and easier to implement and more flexible.

Freed sums up, “‘Just Down the Road’ provides an existing new opportunity for anyone operating in capital markets and looking to reduce costs and/or increase efficiency of business processes.  The flexibility offered also makes it an ideal destination for project based work”.

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