In 2024, demand for remote tech professionals from Latin America surged, led by Chile and Colombia. Young talent from Generation Z is increasingly preferred due to their adaptability and tech skills. Companies are focusing on employee retention by offering competitive benefits and prioritizing mental health and workplace culture. While talent shortages have historically plagued the region, innovative educational initiatives are bridging the gap.
In 2024, the demand for remote Latin American tech professionals surged, driven by U.S. companies seeking talent in familiar time zones. Deel’s Global Hiring Report revealed that international hiring in the region experienced significant double-digit growth. As one of the prominent leaders in the HR and payroll sector, Deel highlighted how this trend accelerated during and post the Covid pandemic.
Chile topped the rankings, exhibiting an impressive 67% growth, while Colombia followed closely at 55%. Both Mexico and Argentina shared a 54% increase, with Brazil not far behind at 53%. Despite having a large talent pool, Argentina faced challenges such as high inflation that discouraged global firms from engaging its workforce.
Major hiring destinations in 2024 encompassed cities like Buenos Aires, Bogotá, São Paulo, and numerous others across Latin America. Due to unstable foreign exchange markets, there has been a noticeable preference among workers for payment in U.S. dollars. This trend saw Argentina lead with a 7% increase in dollar payments, while Colombia and Mexico recorded 6%, Brazil 4%, and Chile 3%.
Interestingly, employers are increasingly favoring younger professionals, particularly from Generation Z, over seasoned workers. While these younger recruits may lack extensive experience, their enthusiasm and familiarity with emerging technologies such as artificial intelligence are valued. The report indicated a 97% global increase in demand for young talent, with countries like Chile witnessing a staggering 147% rise in the hiring of Gen Z professionals.
Software engineers and developers topped the list of in-demand roles, followed by customer service agents and accountants. Deel conducted an analysis of over a million job contracts globally, noting that 82% of its hiring remains remote. They emphasized the changing landscape of talent retention in Latin America.
Despite facing a long history of talent shortages in the tech sector, there are signs of improvement. Daniel Peña Ronderos, CEO of DevSavant, emphasized that Latin America is now well-equipped to meet global tech talent demands. Initiatives like EdTech platforms are playing a transformative role by enabling individuals to develop necessary IT skills, even those without traditional educational backgrounds.
To retain talent, companies are encouraged to offer similar benefits to their U.S. counterparts, including stock options and performance bonuses. Deel’s report indicated that layoffs were at historic lows in the U.S., leading to decreased job resignations, which fell from 3% in January 2023 to 2% in December 2024.
Ronderos indicated that salary is no longer the sole factor in talent retention. There is a growing emphasis on mental health and workplace stability, with remote professionals seeking environments that prioritize well-being, flexibility, and a trustworthy culture.
The demand for remote tech professionals in Latin America, particularly from countries like Chile and Colombia, has significantly increased in 2024. Organizations are increasingly seeking younger talent to meet the evolving needs of the tech industry. Despite historical talent shortages, initiatives in education and employee welfare are enhancing retention rates, suggesting a positive outlook for the region’s talent pool.
Original Source: nearshoreamericas.com
