In 2024, demand for remote tech experts in Latin America surged, with Chile and Colombia seeing significant growth. Young professionals from Generation Z became increasingly sought after, and companies adapted retention strategies focusing on benefits beyond salary. Educational initiatives are strengthening the talent pool, indicating a shift in the region’s ability to meet global tech demands.
The demand for remote tech talent in Latin America saw significant growth in 2024, driven by U.S. companies’ interest in hiring skilled professionals within similar time zones. Deel’s Global Hiring Report noted that international hiring in this region achieved double-digit increases, highlighting a 67% surge in Chile and a 55% rise in Colombia. Other countries like Mexico and Argentina followed with 54%, while Brazil experienced a 53% growth in remote hiring.
Despite Argentina’s large talent pool, high inflation deterred many global firms from hiring there. The report identified top hiring cities in 2024 as Buenos Aires, Bogotá, São Paulo, Lima, and others. With fluctuating foreign exchange markets, Latin American workers increasingly favor compensation in U.S. dollars, with notable payment increases observed in Argentina (7%), Colombia (6%), and Mexico (6%).
The trend in hiring is shifting towards younger professionals from Generation Z, born between 1996 and 2012, who, despite lacking extensive experience, bring enthusiasm and familiarity with new technologies, particularly artificial intelligence. Companies noted a 97% rise in demand for younger talent, and Chile led this trend with a hefty 147% increase in hiring young tech employees. Retaining young talent proved easier compared to seasoned professionals, with millennials experiencing smaller wage growth than Gen Z in 2024.
Software engineers and developers ranked as the most sought-after professionals, followed by customer service agents and accountants. Deel’s analysis covered over a million job contracts worldwide, indicating an ongoing preference for remote work arrangements.
Long-standing talent shortages in Latin America, especially in tech, are now improving, according to Daniel Peña Ronderos, CEO of DevSavant. Initiatives such as EdTech platforms are critical in expanding the talent pool, providing skills training to individuals without conventional educational backgrounds. To maintain talent in the region, companies are advised to offer benefits comparable to those provided by U.S. firms.
Predictions indicate that talent retention will not pose a significant challenge in the coming years, driven by a reduction in layoffs and job resignations. Factors influencing retention have shifted from salary alone to the importance of employee mental health, workplace culture, and flexible working conditions, emphasizing a more holistic approach to employee satisfaction.
Remote hiring in Latin America is booming, especially in countries like Chile and Colombia, as U.S. companies search for tech expertise in compatible time zones. The shift toward hiring younger professionals reflects changing preferences, with Generation Z proving to be a vital asset for organizations. Retention strategies are evolving to encompass mental health and workplace culture, crucial for keeping talent engaged in a competitive job market. Educational initiatives and remote work opportunities are central to meeting the growing demand for skilled tech professionals in the region.
Original Source: nearshoreamericas.com
