Strong communication, negotiation talents and the ability to analyze business processes, strategy and finances are among the top skills needed for a successful outsourcing career, according to a new report issued by the International Association of Outsourcing Professionals (IAOP).

The “Career Mapping for Outsourcing Professionals” report also found that outsourcing professionals require knowledge in team leadership, global delivery experience, as well as skills managing relationships, programs and change.

This second phase of a multipart initiative examines how organizations deploy outsourcing professionals, how many they have and some of the most common models out in the marketplace.

The IAOP estimates 150,000 professionals work in outsourcing as providers, advisers or users of outsourcing services. Among the new titles emerging to define these positions are global sourcing managers, directors of strategic sourcing, strategic relationship managers, solutions consultants, directors of IT synergies and chief globalization officers.

“Having management skills and capabilities is a key component to achieving the desired outcomes of outsourcing,” said Lori Blackman, president of DNL Global of Dallas and co-chair of IAOP’s Global Human Capital Chapter, which is leading the efforts to define and map the outsourcing professional career path.

The association, which sets professional standards and advocates for the industry, expects that by the year 2010, outsourcing will be one of the most coveted and highly rewarded occupations.

“As organizations increasingly make outsourcing an integral part of their operations, a new breed of professionals skilled in the design, implementation and management of these complex business relationships has emerged,” said IAOP Chairman Michael Corbett.

In the next phase of the project, IAOP, in association with the Human Capital Institute will collect salary and compensation data for outsourcing professionals in a first-of-its-kind study.

“The full career-mapping results will be useful to organizations and their HR departments, as well as individuals to help define entry points, career progressions in outsourcing and levels of responsibility, as well as benchmarks for compensation levels,” said Julia Santos, director of worldwide strategic outsourcing at Johnson & Johnson and co-chair of the IAOP Global Human Capital Chapter.