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Harley Lippman, CEO of Genesis10, on job creation and the advantages of bringing jobs back to the U.S.
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Recovery is still weak weekly jobless claims were up seven of the -- eight weeks -- my next guest is trying to change that.
His company is working to bring jobs back.
To the US but the concept joining me now is holly -- founder and CEO of Genesis ten and IT consulting and stopping -- holly thank you for joining us -- We were just talking in the in the commercial break so many jobs have left the United States and gone overseas.
How -- we let that happen.
Well more than a decade ago it may have made sense for what has happened in the last ten years as the world -- more flat in wages -- more similar.
So what was attractive.
Long time ago where the cost will lower overseas -- door that's not true anymore.
Now the wage differential has narrowed a great deal.
So what's the advantage of coming back.
You'll set up overseas unit costs are still relatively low I would imagine the tax situation is that favorable here compared to win they out.
Well what's attractive about coming back.
Is that you have talent here -- talent in different cities we have delivery centers all around the country when we capture that talent.
And these people have the business knowledge which in technology is always more important.
When you look at overseas.
It's been -- a global company this is part of a strategy.
Where you global.
-- looking at the strategy you also want to bring back more jobs here today on states and have that is part of more of a balanced global strategy.
Because as I said the world -- more flat you can actually find certain roles are actually cheaper now in the United States.
And we're talking about the tech sector and particularly Dicey because those you are actually seeing a trend which would jobs coming from -- -- he's back to the United States.
Aloft or for a lot and that reason is that when companies begin to analyze all -- hidden and in direct costs yeah.
And evaluate this they see that when they -- at all -- It seems to make better bet to do -- here you have an issue of transparency overseas.
We're you don't CME people on a project so we even if you get a low number.
If companies throwing a lot of people that -- on a project that -- really need to issue on transparency.
Here's an example where here you get full transparency.
I know you.
Particularly in the IT field but what about manufacturing so many either of those jobs are gone away -- -- again they've gone overseas are we seeing any of those jobs coming back manufacturing is coming back as well and I think the next big wave that we hearing about more and more is IT.
And I -- because you have the talent here.
Also because you have issues regulatory issues.
For banks insurance companies -- and that's regulated.
There are real concerns about protection.
Privacy confidential financial information.
It's not protected offshore lot of people think it is no matter what they say.
It's not as protected as -- -- here and that's a huge event again and you know that people feel so it's safer about that being back in the US them for good reason.
Good reason according out of time but I hope you're right more jobs coming back is a great isolated and holly -- with the Genesis and CEO thank you very much thank you for having me on right.
