Emergency Quote by Edward Conard
“Let's not kid ourselves about just how cheap offshore labor really is. We not only pay substantially less per hour: we also avoid the costs we would incur if these workers immigrated here. We don't pay for their medical expenses when they show up in the emergency room without insurance.”
About This Quote
Source Article: “The True Cost of Offshore Labor”, Harvard Business Review, 2015
Offshore labor appears cheap because it excludes hidden costs like healthcare and immigration expenses, masking its real price.
In simple terms: Offshore work seems cheap but hides hidden costs.
Key Takeaway
Consider total cost, not just wages.
Themes
economics
labor
globalization
Mood
critical
analytical
Type
analytical
advisory
When to use this quote
- budget planning
- corporate strategy
- public policy debates
- risk assessment
Key Concepts
cost accounting
ethical sourcing
policy analysis
Questions to Reflect On
- What hidden expenses affect your hiring decisions?
- How can you evaluate true labor costs?
A Different Perspective
Ignoring hidden costs can lead to ethical and financial pitfalls.
