Latin America is a benchmark in the global competition for specialized talent 

In the first quarter of 2023, at least 3,000 US-based companies hired remote talent from the region, which is now the fastest growing in international hiring 

Improving productivity and increasing profitability are always priority objectives for business leaders, and one of the tools to achieve them is the incorporation of qualified human talent, which often ends up being international. 

Remote work represented a great step towards this end: it allowed companies to access specialized workers without them being in their country of operation, and it helped these types of employees to improve their income and collect salaries in foreign currencies. 

Throughout this panorama appears Latin America, which is the region with the greatest growth in international hiring in the last year in global areas. For example, the hiring of Latin American professionals by US companies experienced 50% growth through June 2023, according to Deel’s State of Global Hiring. 

The ‘global fight’ for specialized talent 

The rise of nearshoring, the trend of companies relocating near their main location but in cheaper geographical areas, has fueled the debate about the specialized talent that Latin America has and the high demand that it will have once these companies arrive. Last year, the Inter-American Development Bank (IDB) said that nearshoring would increase the GDP of countries in the region by up to 14%. 

“In a context of competition for talent, nearshoring allows companies to access highly trained professionals at lower costs and with less time difference, which improves collaboration and efficiency in global projects. This may be especially relevant in Latin America, where there is a growing supply of technological talent,” explained Andrés García, CEO of Cappti to Bloomberg Línea. 

For García, in times of economic slowdown like those the region is experiencing, having diverse global talent becomes a “strategic asset,” since these professionals provide a variety of perspectives, experiences and skills that can help companies adapt more quickly to changing market conditions, increasing global competition for talent. 

Source: Bloomberg Line 

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