| If you are still in the dark about the many | | | | reached the $10 billion mark. It is continuously |
| benefits of outsourcing then you are left behind | | | | growing almost exponentially since then and the |
| already - way behind. In recent years, outsourcing | | | | interesting part is that it is not expected to slow |
| has gone from being a hot trend to a standard in | | | | down even in the face of the recession that the |
| business. Outsourcing statistics will tell you that | | | | United States and other major economies are |
| the number of companies that are employing this | | | | experiencing. |
| strategy is increasing every year and the practice | | | | Here are some more interesting outsourcing |
| has now spread to industries that are not | | | | statistics and facts for you: |
| traditionally known to employ outsourcing. Now, | | | | . Information Technology is still the most |
| even entrepreneurs and small business entities are | | | | outsourced type of job accounting for almost |
| taking advantage of the many benefits that hiring | | | | 30% of the whole industry. It is closely followed |
| offshore companies and individuals brings. | | | | by human resources and sales. |
| When the concept was first introduced during the | | | | . The most popular source of labor are Philippines, |
| 1970s (though some experts would argue that | | | | India and China. Companies favor these three |
| the history of outsourcing goes way back), only | | | | countries because of their stable communication |
| manufacturing companies are contracting out | | | | infrastructure and the presence of highly skilled |
| some or majority of their job functions to other | | | | and trained individuals who are fluent in both |
| companies. Then as it is now, the biggest reason | | | | written and spoken English. |
| to outsource is to save money. Wanting to | | | | . It has been estimated that more than 4 million |
| expand yet realizing the cost implications of hiring | | | | jobs have been transferred from Western |
| new personnel and creating new departments, | | | | countries to developing countries because of |
| companies simply thought of contracting out their | | | | outsourcing. This number is expected to rise |
| menial yet still important requirements to outside | | | | exponentially in the years to come. |
| parties. The result, companies are still able to | | | | . The economic development of India as well as |
| pursue their growth aspirations and cut back on | | | | other developing countries has been largely |
| cost at the same time. | | | | attributed to their ability to provide cheap yet |
| At the onset of globalization and with the | | | | reliable workforce. |
| invention of the Internet and other communication | | | | May these facts and statistics on outsourcing |
| technologies, the vast pool of highly skilled yet | | | | provide you with an idea of how big the concept |
| affordable workforce that are present in the East | | | | is and what it can do for your business. Your |
| and other developing countries became accessible | | | | hesitation to outsource may be affecting your |
| to Western companies. Countries like the Philippine | | | | company's chances to compete and grow in this |
| and India are just two of the Asian countries that | | | | highly competitive business environment. |
| more developed countries turn to for cheap yet | | | | Therefore, you must seriously consider |
| quality work. By the year 2005, outsourcing | | | | outsourcing to expand your business and make it |
| statistics have shown that the industry has | | | | globally competitive. |