5 Need-To-Know Outsourcing Statistics That Will Change Your Business
If you are still trying to do everything in house, you’re missing out on a big opportunity.
The below outsourcing statistics will show you how you can use outsourcing to grow your business. If you continue to ignore outsourcing, you could stunt your business growth and even spur long-term trouble.
Everyone Is Doing It
If you think your competition isn’t outsourcing, you need to think again. In 2019, the global market size of outsourced services was 92.5 billion U.S. dollars.
What does it mean if everyone is doing it? It means that you’re going to need to start doing it as well. If you don’t do it, you’re going to have some major challenges.
Whether you want to outsource medical billing, call centers or other jobs in your business, it can greatly speed up how quickly you get things done.
It Isn’t All About Cost
If you think people are only outsourcing to countries that offer them low rates, that isn’t the case.
59% of business leaders say that cost isn’t the main driver behind why they outsource. Besides cost, they also outsource to be able to focus on the core business and to solve issues with capacity.
Hundreds of Thousands of Jobs
Around 300,000 jobs are outsourced each year from the U.S. Many of these jobs are jobs people in the U.S. aren’t excited to do, but others are jobs that will be missed by the American people.
The Average Outsourced Workers Income
While the amount of money companies have to pay may not be the main driver for the decision to outsource, it is a factor.
Since outsourced workers pay is much lower than that of a U.S. worker, it can save the company a great deal of money. An example is that Chinese factory workers make an average of $1.36 per hour. If you compare that to the average U.S. employee making $23.32 per hour, you can see that is a major difference.
Least Likely to Be Outsourced
When asked, companies said that sales and marketing would be the least likely to be outsourced.
While some tasks are easy to outsource because of their nature, connecting, selling and marketing isn’t usually going to be one of the things people are able to do to get the best results for their campaigns.
Nearly 80% of companies do not plan on outsourcing sales and marketing jobs.
Having a better understand of outsourcing will help make better decisions for your business. If you see areas where your business practices might be outdated and ineffective, you can tweak your strategies to be more successful.
