ˈɑːn ˈšɔhr.iŋ / [responsivevoice voice="US English Female" ]Onshoring[/responsivevoice]
Onshoring is the opposite of offshoring.
In this practice, a company moves business operations previously performed overseas to the country it was originally located.
Often, a business chooses this route when the quality of work overseas doesn't satisfy its stakeholders. As a result, the company relocates its operations domestically, thereby helping its home country reduce its unemployment rate.
However, similar to offshoring, a primary drive behind onshoring is the low costs of labor and raw materials in the new location.
Not to be confused with insourcing, onshoring paves the way for a company to find service providers outside its organization but located in the same country. Meanwhile, insourcing limits its talent pool within the company's current workforce only.
