The construction industry is without a doubt one of the most expensive in the world. The prevalence of remote jobs has increased in businesses as companies seek to outsource jobs that are flexible enough for remote work environments due to the connection between diversity, inclusion, and remote working. According to a detailed study conducted by an upcoming construction company in the United States, many of the open positions are eligible for major cost sharing but are also flexible to remote working. If outsourced and offshore labor is done correctly, it can be very cost-effective. However, what if you hired full-time offshore talent to design and estimate at a lower cost?
Subject company overview
Founded in 2007, this construction company and design firm has been recognized for adopting the latest technologies throughout the country. Currently, this company is leading in the industry with over 500 employees and a revenue of over $80 million.
Forecasted expenditure for outsourcing workforce
Listed below are some of the job titles that can be managed remotely, saving you considerable costs while also building a talented team. Using Glassdoor, a popular authentic online salary tool, let’s have a deep analysis of the job titles and average annual pay for these positions across the USA while sourcing the workforce as contractors using outsourcing companies.
|Job title||Average monthly salary while outsourcing contractors|
|Business development manager||$2,941.56|
|Digital marketing manager||$3,031.66|
From the tabulated salary information regarding the potential job titles which can be included while building a virtual team in India, it is summed to an amount of $33,414.28 annually if the subject company decides to develop a team by outsourcing contractors.
Alternative offshore budget suggested by Global Squirrels panel
With years of experience managing offshore teams in India with local entities in major cities, a seamless budget is presented based on Global Squirrels pricing to embrace offshore resources. The rates are calculated as per the average salary statistics given by Glassdoor and the base markup percentage of 35% for the Global Squirrels’ services including sourcing, payrolling, and coworking spaces (if required by the customer). It can be varied based on the customer requirements and customizations of services. The salary range is directly proportional to the skills and experience of the candidate required to fill in the skill gaps of the organization.
|Job title||Average monthly salary for offshore talent using Global Squirrels|
|Business development manager||$1,395.78|
|Digital marketing manager||$1,437.08|
It is calculated as a monthly total of $15,883.60 for the offshore resource team from India according to Global Squirrels from the above table.
Cost saving comparison: Other outsourcing companies vs Global Squirrels
Comparing the budgets for onshore and offshore teams based on Glassdoor, it can be concluded that the core company presented under the case study can save $17,530.68 per month potentially with the help of Global Squirrels. When we look at the difference in the budget in percentage, the subject construction company can save their outsourcing team budget of full-time openings by 52.45% while embracing the offshore talent from India. For this study, the salary threshold for hiring Indian talent is kept at the industry standard, so the respective company can save more than it does now.
The benefits of hiring offshore/foreign talent aren’t just about cost-saving but also about adding a diverse set of skills and knowledge to the business processes. With the right global PEO partner like Global Squirrels, any business can explore global talent on a minimal budget. Isn’t it amazing to know that you can save more than 50% of the cost within a few clicks? Partner with us and make it a real deal.