Suncorp leads offshoring: analysis

Firm leads financial services sector in sending jobs offshore.

An independent analysis has found that Suncorp Group Ltd is set to become the top outsourcer of domestic jobs among financial services firms, according to The Australian Financial Review.

The analysis, by outsourcing adviser Swamy and Associates, found that by next month Suncorp will pass the 1,500 mark for full-time employees working on its behalf via offshore suppliers, putting it at the top of the list of financial services outsourcers in terms of the proportion of jobs no performed abroad.

The firm currently has about 1,400 jobs placed offshore, representing about 8.25% of its workforce, putting it above Australia and New Zealand Banking Group (ANZ) at 7.45%, Westpac Banking Corporation's 6.05%, QBE Insurance's 4.29% and National Australia Bank's 2.88%, the AFR reported.

Information technology (IT) and back office administration positions have been most heavily targeted as work vulnerable to being transferred offshore.

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