In 2024, remote tech hiring in Latin America surged, with Chile and Colombia leading growth. Demand for young professionals from Generation Z is rising, while companies adapt to provide competitive, supportive work environments. Retaining talent has become prioritized alongside traditional compensation, fueled by a growing emphasis on well-being and psychological security for employees.
In 2024, the demand for remote tech expertise from Latin America surged as U.S. companies sought talent within similar time zones. According to Deel’s Global Hiring Report, international hiring in the region experienced double-digit growth, greatly influenced by an increasing reliance on remote work prompted by the Covid pandemic. Chile demonstrated the most significant growth at 67%, with Colombia following at 55%, and both Mexico and Argentina registering 54% increases, while Brazil experienced a 53% rise.
Despite Argentina’s vast talent pool, rampant inflation led many global firms to avoid hiring from the country. The report highlighted major hiring centers for 2024, which include Buenos Aires, Bogotá, São Paulo, Lima, Medellín, Mexico City, Rio de Janeiro, as well as Córdoba, Rosario, and Cali. Furthermore, due to volatile foreign exchange markets, many Latin American professionals preferred to receive their payments in U.S. dollars, leading to increased dollar transactions across the region.
The report indicated a new tendency among firms to hire younger professionals from Generation Z, born between 1996 and 2012. While they may lack extensive experience, their enthusiasm and familiarity with emerging technologies are appealing traits for employers. Notably, demand for young talent surged globally by 97%, with a significant retention trend showing that retaining young graduates is easier than keeping seasoned employees. Chile specifically witnessed a striking 147% increase in hiring young tech professionals.
Software engineers and developers topped the list of in-demand roles, followed closely by customer service agents and accountants. Deel, which still maintains 82% of remote hiring, analyzed data from over one million job contracts globally. Amid a long-standing talent shortage in Latin America’s tech sector, improvements are being made, according to Daniel Peña Ronderos, CEO of DevSavant, emphasizing the readiness of the region to satisfy global tech demands.
Ronderos asserted that initiatives like educational technology platforms are pivotal in enhancing the talent pool, allowing individuals to obtain essential IT skills without formal degrees. His company advises clients to offer similar incentives to Latin American professionals as those provided to U.S. employees. With trends indicating decreased layoffs both in the U.S. and globally, Deel’s report forecasts that retaining talent will not be as challenging moving forward, with resignation rates dropping significantly.
In addition to competitive salaries, Ronderos noted that employees prioritize mental health and psychological security, leading to a growing emphasis on well-being, flexibility, and a stable work culture as crucial factors in retention.
In conclusion, the demand for remote tech talent in Latin America has experienced remarkable growth, particularly in countries such as Chile and Colombia. Companies are shifting their hiring strategies to favor younger professionals from Generation Z, drawn by their tech-savviness and adaptability. Alongside this trend, the focus on creating supportive and flexible workplaces has emerged as a critical factor in retaining talent, reflecting changing attitudes towards work and compensation in the modern job market.
Original Source: nearshoreamericas.com
