Creating Value with a Purpose: Impact Sourcing State of the Market 2024
State of the Market Report

27 Dec 2024
by Rita N. Soni, Kanishka Chakraborty, Mohini Jindal, Tushar Pathela

The impact sourcing ecosystem is rapidly expanding due to the growing interest in sustainable and socially responsible business practices. Enterprises and providers are increasingly incorporating diverse and underserved talent into their operations due to cost efficiency, access to specialized talent, and alignment with ESG and SDG objectives. Traditional providers dominate hiring volumes, while specialists see steady growth in revenue and headcount as they refine talent initiatives and partner with NGOs and educational institutions. Buyers recognize the dual value of cost benefits and corporate citizenship, advocating for more robust reporting and impact sourcing policies’ disclosure. In response, providers are investing in enhanced training programs, certifications, and technology upskilling, enabling impact workers to transition to more complex, higher-value roles. Despite generative AI’s disruptive potential concerns, agentic AI emerges as a promising tool to empower the impact workforce. Key market trends include the CXM industry’s increasing contribution to impact sourcing revenue, growing adoption of impact workers in MEA and APAC regions, and alignment with regulatory frameworks promoting fair labor practices. Governments support impact sourcing through incentives and regulations, while providers adopt inclusive hiring strategies and offer tailored employee support to complement workforce diversity and drive social impact.

In this report, we explore macroeconomic drivers, buyer feedback, and generative AI’s influence on the impact sourcing space. Africa stands poised to lead the global impact sourcing growth, showing this approach’s transformative potential in fostering a purpose-driven and sustainable business landscape. The report aims to enable enterprises and providers to incorporate impact sourcing and other inclusive talent management strategies in their organizations.

Scope

  • Broad industry with a focus on impact sourcing talent strategy
  • Geography: global
  • Impact sourcing programs of both impact sourcing specialists and traditional service providers
  • This report is based on primary and secondary data collection, conversations with market participants (buyers, outsourcing service providers, and impact sourcing specialists), and fact-based research

Contents

In this report, we analyze:

  • The concept of impact sourcing and the comprehensive impact sourcing market landscape, including market size, trends, and talent portfolio
  • Impact sourcing’s talent management practices across the hire-to-retire cycle
  • Buyers’ take on impact sourcing
  • Impact sourcing engagement case studies
  • Technology’s role on the impact sourcing market and the future of impact sourcing programs

Memberships

This Market Report is available to All Memberships

 

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