Despite Growing Demand for Market Researchers, Offshoring Not Viewed as an Option for the Market Research Industry
Following only budgets, staffing in the market research industry has become a critical industry challenge with an increasing number of market research jobs to fill in 2007. And industry participants do not feel strongly that offshoring is a viable solution.
Stamford, CT, April 18, 2007 --(PR.com)-- The ability to match the growing pool of vacant market research jobs with qualified professionals has become a critical, top-two industry challenge as determined by a recent survey conducted by MarketResearchCareers.
Within the 2007 edition of MarketResearchCareers' Annual Survey of Market Research Professionals, more than half (53%) of surveyed market research professionals expect to hire in 2007—up significantly from 40% in 2005. Furthermore, those expecting to expand their ranks plan to hire more staff—up from an average of nearly three people in 2005 to nearly five in 2007.
The market research jobs experiencing the greatest demand include: entry level researchers, project managers and market research managers. However, the need for seasoned researchers, including statisticians and vice presidents, has nearly tripled since 2005.
Compounding the scarcity of skilled market research professionals is the continuing difficulty of the job. Two-thirds of the participants stated they believe their job will be more difficult this year driven and supported by comments such as:
* “Higher expectations of clients."
* “Continuing need to do more with less." and
* “Increasing competition within the industry.”
Despite the sentiment by 80% of those surveyed that clients recognize and appreciate innovation within the market research industry, the average raise among research professionals is expected to fall from 6.7% in 2005 (of base salary) to 5.7% in 2007—with nearly one in five expecting no raise at all.
With nearly seven out of eight participants (85%) identifying themselves as managers or senior managers, only 14% view “offshoring” research positions as an option to help manage costs in 2007. While nearly half (46%) of all participants believe offshoring helps to control the expense of market research, the same percentage believes offshoring erodes the overall quality of the market research.
Furthermore, buyers and providers of market research shared the following comments regarding the practice of offshoring within the market research industry:
* “Like any business decision, offshoring must be carefully accessed and evaluated on an ongoing basis. We have been offshoring for 4 years and have had both success and failure. Buyer beware - due diligence is a must before entering a contract.”
* “I have offshored once and will never do it again. I do not even like using West-Coast based vendors because of the time change. Throw in language barriers and I'm completely turned-off.”
* “The time zone issues are difficult when analysis is being managed overseas. I need a supplier who is available during my business hours.”
* “Offshoring is the worst thing that has happened to this industry.”
* “I think it creates greater frustration on the part of respondents, leading to lower cooperation rates."
Once viewed as a key benefit of offshoring, nearly two in five research professionals (38%) believe offshoring does not speed delivery or turnaround of market research services. Interestingly, participants could not reach a consensus as to whether offshoring is generally an acceptable business practice or should be permissible among market research suppliers.
The research was conducted between March 21 and March 31, 2007 with 237 market research professionals (both suppliers and buyers) completing an online survey. The survey completion rate was 71.7% and the aggregate data have a tolerance of +/- 6.4%.
If you would like a detailed report of these and other findings, please contact:
Patrick E. Maldonado
Director Sales & Marketing
1-800-872-5401
pmaldonado@marketresearchcareers.com
About MarketResearchCareers
MarketResearchCareers is the career website with the most comprehensive database of resumes and jobs focusing exclusively on the Market Research industry.
With more than 10,000 current resumes consisting of seasoned project directors, Market Research analysts, research directors and vice presidents, MarketResearchCareers is your marketing research staffing headquarters. See why so many corporate hiring managers, human resource professionals, market research suppliers, and thousands of skilled researchers turn to them to fill market their market research jobs.
Visit us on the web at http://www.marketresearchcareers.com or call them at 1-800-872-5401.
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Within the 2007 edition of MarketResearchCareers' Annual Survey of Market Research Professionals, more than half (53%) of surveyed market research professionals expect to hire in 2007—up significantly from 40% in 2005. Furthermore, those expecting to expand their ranks plan to hire more staff—up from an average of nearly three people in 2005 to nearly five in 2007.
The market research jobs experiencing the greatest demand include: entry level researchers, project managers and market research managers. However, the need for seasoned researchers, including statisticians and vice presidents, has nearly tripled since 2005.
Compounding the scarcity of skilled market research professionals is the continuing difficulty of the job. Two-thirds of the participants stated they believe their job will be more difficult this year driven and supported by comments such as:
* “Higher expectations of clients."
* “Continuing need to do more with less." and
* “Increasing competition within the industry.”
Despite the sentiment by 80% of those surveyed that clients recognize and appreciate innovation within the market research industry, the average raise among research professionals is expected to fall from 6.7% in 2005 (of base salary) to 5.7% in 2007—with nearly one in five expecting no raise at all.
With nearly seven out of eight participants (85%) identifying themselves as managers or senior managers, only 14% view “offshoring” research positions as an option to help manage costs in 2007. While nearly half (46%) of all participants believe offshoring helps to control the expense of market research, the same percentage believes offshoring erodes the overall quality of the market research.
Furthermore, buyers and providers of market research shared the following comments regarding the practice of offshoring within the market research industry:
* “Like any business decision, offshoring must be carefully accessed and evaluated on an ongoing basis. We have been offshoring for 4 years and have had both success and failure. Buyer beware - due diligence is a must before entering a contract.”
* “I have offshored once and will never do it again. I do not even like using West-Coast based vendors because of the time change. Throw in language barriers and I'm completely turned-off.”
* “The time zone issues are difficult when analysis is being managed overseas. I need a supplier who is available during my business hours.”
* “Offshoring is the worst thing that has happened to this industry.”
* “I think it creates greater frustration on the part of respondents, leading to lower cooperation rates."
Once viewed as a key benefit of offshoring, nearly two in five research professionals (38%) believe offshoring does not speed delivery or turnaround of market research services. Interestingly, participants could not reach a consensus as to whether offshoring is generally an acceptable business practice or should be permissible among market research suppliers.
The research was conducted between March 21 and March 31, 2007 with 237 market research professionals (both suppliers and buyers) completing an online survey. The survey completion rate was 71.7% and the aggregate data have a tolerance of +/- 6.4%.
If you would like a detailed report of these and other findings, please contact:
Patrick E. Maldonado
Director Sales & Marketing
1-800-872-5401
pmaldonado@marketresearchcareers.com
About MarketResearchCareers
MarketResearchCareers is the career website with the most comprehensive database of resumes and jobs focusing exclusively on the Market Research industry.
With more than 10,000 current resumes consisting of seasoned project directors, Market Research analysts, research directors and vice presidents, MarketResearchCareers is your marketing research staffing headquarters. See why so many corporate hiring managers, human resource professionals, market research suppliers, and thousands of skilled researchers turn to them to fill market their market research jobs.
Visit us on the web at http://www.marketresearchcareers.com or call them at 1-800-872-5401.
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MarketResearchCareers
Patrick E. Maldonado
800-872-5401
www.marketresearchcareers.com
Patrick E. Maldonado
800-872-5401
www.marketresearchcareers.com
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