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oConomy summarizes trends based on record $22.5 million of work completed on oDesk.
Today oDesk (http://www.odesk.com/w), a leading staffing marketplace and management platform that helps companies hire, manage, and pay remote technology workers, announced the launch of the oConomy (http://www.odesk.com/community/oconomy), a rich database of information that exposes hourly wages, technical skills and feedback ratings for the global oDesk workforce. The company also announced that a record $22.5 million has been spent on technology projects through the company’s marketplace.
Among the many insights offered in the oConomy:
- Indonesian Providers Earn Highest Average Feedback Scores – Indonesian providers earned a feedback rating average of 4.5 (on a scale of 1-5), tops among countries with more than 100 assignments completed. Also high on the list were Bolivia (4.4), Pakistan (4.3.), Ukraine (4.2) and the Philippines (4.2). “There are talented people around the globe, even in places that don’t always come to mind when you think about technology work,” says Swart. “But it’s important to note that oDesk offers individual feedback ratings for each provider in our network, and that remains the best way to judge their services.” India, by far the most popular outsourcing destination with four times as many assignments completed as any other country, received a feedback rating average of 3.8.
- The Average oDesk Pay Rate Is $14/Hour – oDesk allows its service providers to compete freely for jobs by setting their own hourly rates, and the average rate is $14 per hour. However, many providers earn significantly more, often as much as $90/hour, based on their experience, feedback ratings and skill sets.
- Experience Is A Strong Predictor Of Job Performance – oDesk found a direct correlation between a provider’s years of experience and feedback rating. For example, providers with five years experience receive a rating average of 4.2, while those with thirty years experience earn an average of 4.7. “This is why we place so much emphasis on qualifying our providers,” says Swart. “And it’s why we recruit around the world to find individuals who bring a great deal of experience and relevant knowledge to the table.”
In addition to its data on the global workforce, the oConomy also offers data on the performance of oDesk itself, including a real-time scroll of the company’s gross earnings. “We believe strongly that in the world of remote work, transparency is essential,” says Swart. “So it’s only natural that we practice what we preach. Plus, we owe our high growth rates to our loyal customers, and we’re very excited to share that information with them.”
oDesk has quickly risen from a small start-up in 2004 to a leading marketplace for remote work. Since the company’s founding, growth has averaged over 14% per month, and the company was recently named by Deloitte as one of the fastest growing technology firms in North America.
Every day, oDesk helps people all over the world work together, as if they were seated in the same office. Founded in 2004, oDesk (www.oDesk.com) is a global marketplace for programmers and technology freelancers that enables businesses to build and manage remote teams. Hiring managers can search the oDesk network and choose from among thousands of tested, top-rated technology professionals in over 90 countries. Using oDesk web-based collaboration tools, project managers can visually track and verify all work performed, both historically and in real-time. oDesk is venture-backed by Benchmark Capital, Globespan Capital Partners and Sigma Partners.