This study by software company Intuit has predicted that over 60 million Americans will be “contingent workers” by 2020. That’s a startling statistic but Intuit has data to back up the claim. After the Great Recession of 2008 it was a slow uphill battle to raise the employment rate in America in all sectors but one- contingent, independent workers. From 2009-2012, during the heart of the recovery process from the recession, the amount of temporary employees rose by 29% (according to the Bureau of Labor Statistics). This increase in temporary workers includes jobs of varying degrees from all industries, not just tech.
A constant variable when it comes to running a successful business is having good employees who keep the business going and growing. Obviously the place where finding the right employee starts is at the hiring process. Sometimes a good cover letter and resume are merely a combination of exaggerations and good writing, rather than an accurate description of the candidate.
Being able to delegate is an integral component of being a good leader. Acknowledging the advantages of handing off projects and requirements to someone else who may be more qualified or skilled in that realm is the start to reaping the benefits of outsourcing. In today’s aggressive business world companies need to offer great products with competitive prices. Offshore outsourcing part of a business process reduces risk and cuts overhead cost, allowing companies to stay profitable and results in using resources both onshore and offshore in the most effective manner.
With the tech boom that’s going on right now it’s no surprise that a recent study reports 59% of IT employers plan on adding temporary or contract worker in 2015. When hiring short-term or contract workers it makes sense to outsource the work or even the hiring process altogether. A lot of IT employers are having trouble finding the right candidates for the job requirements, and considering more and more requirements are coming in, employers need to find the right fit fast.
Companies large and small are turning to outsourcing as a solution to growing their business while keeping payroll and overhead costs in check. Outsourcing is the process of obtaining work from external sources like agencies, independent contractors, or freelancers, which can all be onshore or offshore. Whether going the route of onshore or offshore, both can positively directly impact a company’s top and bottom line. Below are some of the most moving reasons to choose outsourcing for successfully running an enterprise: