ST. PETERSBURG, Fla., Dec. 13, 2023 /PRNewswire/ -- The global economic landscape is witnessing unparalleled shifts, marked by rising interest rates, inflation, and escalating business costs. In this intricate scenario, businesses grapple with the imperative to balance operational efficiency while optimizing costs. According to the latest Newxel report, "In-House Talent Economics: Decoding the True Financial Impact. 2023 Operations Team Cost," companies are confronted with the potential financial burden of managing day-to-day operational expenses.

Newxel's comprehensive study delves into the complexities of operational costs across 12 countries, including the USA, Canada, the UK, Portugal, Sweden, the Netherlands, Germany, Switzerland, Austria, Romania, Poland, and Ukraine. The report provides invaluable insights into critical departments, such as Human Resources and People Management, Legal, Finance, and Office and Administration, offering a strategic roadmap for businesses navigating dynamic market conditions.

"As businesses embark on a journey to navigate operational challenges, the insights derived from this report empower leaders to make informed decisions, optimize costs, and consider IT staff augmentation as a strategy for cost-effective flexibility and sustained success in a dynamic digital global landscape," says Andrii Bezruchko, CEO of Newxel.

Key Highlights:

- Switzerland ($86,350) emerges as the pinnacle with the highest average operational costs, while Ukraine ($19,900) represents the cost-effective base, making it a strategic choice for operational efficiency.
- Following Switzerland's lead, the USA ($65,300), Canada ($64,250), and the UK ($62,050) carve out their competitive niche in the operational team cost spectrum, offering diverse options based on budgetary considerations.
-Eastern European countries, particularly Ukraine ($19,900), Poland ($25,500), Romania ($26,350), and Portugal ($27,750), provide cost-effective solutions for operational team costs, highlighting strategic alternatives for businesses.
-Within the operational team costs, HR and People Management (up to 45%) and Office and Administration (up to 38%) constitute the largest share, emphasizing the need for effective management of these components for cost efficiency and operational excellence.

For media inquiries, please contact Maryna Kandiuk at m.kandiuk@newxel.com.

The full report is here.

Media kit

About Newxel:

Newxel is a global provider of R&D centers and dedicated tech teams, offering full-cycle tech recruitment services--from recruitment consultancy to back-office operations management to ensure the most efficient solutions for the business. Today, Newxel serves 50+ clients worldwide. Our employees are top-notch tech professionals dedicated to delivering high-standard service to our clients.

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