I recieved an email (several in fact) from a person all hot and bothered about the investment possibilities of outsourcing:
“This is a potential huge money maker! I’m going to invest in all these companies that are outsourcing, and make a mint!”
I don’t know how savvy an investment strategy that might be, as we are already deep into the outsourcing process. The low hanging fruit have already been picked. The same is probably true for the outsourcing firms themselves (although that is less conclusive).
But the questioner got me thinking about this issue from a research perspective. How can one find the companies — by region or industry — and quantify who is outsourcing? There are clear economic and political consequences of this issue.
In delving deeper into this, I discovered Job Tracker. The site claims to be able to able to track what companies are sending jobs overseas by ZIP code, industry or company.
It seems to be a pretty helpful tool — for politics, as well as financial research — if it works as advertised.
Heres their spiel:
Corporations increasingly are shipping U.S. jobs overseas, with America’s middle-class hardest hit. Since January 2001, the nation has lost 2.7 million manufacturing jobs, and some studies say 14 million white-collar jobs could be sent overseas in the years ahead.
Unfair trade deals and large tax breaks often encourage corporations to export jobs overseas.
I’d like to ask for some feedback on this: Is it helpful, complete, accurate. I’m curious as to how well this works.
Also of interest: Has organized labor actually gotten web savvy? That’s a big story in itself. I cannot recall ever seeing a significant usage of the internet by the AFL-CIO in this manner. Outsourcing is exactly the sort of bread and butter issue that would lend itself well to an internet based advocacy.
Let’s see how long it takes to get from my superficial observation and analysis to mainstream media discussion.
US website tracks job exporters
Indo-Asian News Service, September 18
Ever look at the breakdown of employer costs for employee compensation? It is actually quite fascinating. According to today’s BLS release, for June 2004:
· Employer costs for employee compensation averaged $24.96 per hour worked;
· Wages and salaries, which averaged $17.70, accounting for 70.9% of costs;
· Benefits, averaging $7.26, accounted for the remaining 29.1%;
· Costs for *legally required benefits averaged $2.03 per hour 8.1%
(Note that represents the largest non-wage employer cost).
· Life, health, and disability insurance benefits averaged $1.93 (7.7%);
· Paid leave **benefits was $1.66 (6.6%);
· Retirement and savings benefits averaged $1.01 (4.1%).
All of the above is “per hour worked”
*Social Security, Medicare, unemployment insurance, and workers’ compensation
**vacations, holidays, sick leave and other leave
Is your contract up with your cellular carrier? Don’t renew it, cancel it.
That’s how you can get the best deal from your current provider. At least, that’s what I learned when I attempted — unsuccessfully — to renew my contract with Sprint, my now former cellular carrier.
The lesson unintentionally taught me is that consumers get a much better deal from the “Retention” department of a large subscriber-based corporation than they do from the “Sales” department. Its not just Sprint — but they were the company that taught me these things. It turns out to be the case not only from mobile service providers, but other entities, such as ISPs — AOL is notorious in this regard.
We are also former customers of credit card provider Capital One, for the very same reasons: The deal they offered to the public was unavailable to us as customers. Over the years, their rates crept up on my (triple A credit) wife’s Master Card to 15%. They advertise a 10% card all the time. When they would’nt offer the same deal to us, it was buh-bye Capitol One (we got the preferred rate elsewhere). I suspect its true for a slew of other subscriber services.
I learned valuable lessons, and I share them with you, dear reader, in the belief that you will profit from my experiences. I also harbor the irrational hope that just maybe someone from one of these outfits will see this, and wise up.
But I am ahead of my self. Our quaint little story begins Christmas 2002, when we purchased a pair of Samsung N400 phones from Amazon. $200 each, plus a $200 rebate. (You may recall that I wrote how rebates sucked, and after much huffing and noise, we eventually got our cash. But that experience soured me on rebates, and I swore off rebates forever. I have stayed true to that oath).
Anyway, our contract expired in January. We got a marketing letter from Sprint to re-up. However, the deal they offered us, as their present customers, was far, far less attractive than the one they seemed to be spending billions of dollars advertising more or less nonstop on every media outlet available to everyone who is not their customers.