Cutting through the offshoring rhetoric.

Three million white-collar jobs will move offshore by 2015.

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That's the alarming statistic Forrester Research released two years ago, setting off alarm bells throughout the halls of corporate America. The offshoring trend will decimate high-paying jobs

Others contend that white-collar offshoring is the next step toward the inevitable globalization of business. It cuts corporate labor costs, improves productivity and quality, and will lead to higher-paying jobs for U.S. workers.

Which is it?

Pamela Babcock discovered that the truth lies somewhere in the middle. In this month's cover story, "America's Newest Export: White-Collar Jobs," on page 50, she sheds light on the dire predictions made by offshoring opponents and brings down to earth the panacea-like promises of supporters.

For HR professionals, it's important to know both sides of the debate and the reality of offshoring so they can be prepared if one day their CEO wants to follow the herd to India.