While unemployment rates continue to decrease and the job market becomes more competitive, employers are struggling to find qualified candidates to fill open positions. The cost of hiring in North America is also increasing, pushing companies to explore alternative hiring options such as offshore hiring. The challenge is to reach international workers with culturally similar working practices that can merge seamlessly with your in-house team.
One alternative that is gaining traction is hiring in South America. Culturally similar to North America, South America is home to a talented and diverse workforce that is eager to work with international companies. With its growing economy, skilled workforce, and competitive cost of living, South America is becoming an attractive destination for businesses looking to expand their global reach.
Advantages of Hiring in South America
Hiring in South America offers several key benefits for North American companies. One of the biggest ones is cost savings. According to a recent study by Deloitte, companies can save up to 70% on labor costs by offshore outsourcing work to South America. This is due to the lower cost of living and more affordable labor rates.
Also, many South American countries have a large population of bilingual speakers, with English being a widely spoken language in business settings. This makes communication between North America and South American workers seamless, allowing for a more efficient and effective workflow. Moreover, the culturally similar environment of both regions enables a seamless merge between both teams, fostering a collaborative and integrated working relationship.
Top South American Countries To Hire From
Argentina, Brazil, and Colombia are among the top countries in the region for hiring. Argentina boasts a highly educated and culturally similar workforce with a focus on technology, while Brazil has a large and dynamic economy with a thriving startup scene. Both of these have a highly developed financial sector and a well-established regulatory framework for professions such as accounting, law, and finance. Colombia, on the other hand, is known for its expertise in business process outsourcing and multilingual talent. Other countries such as Venezuela and Peru are also emerging as attractive destinations.
In the end, the best country to hire in South America depends on the specific needs and goals of each company. For instance, Argentina and Brazil are ideal for companies in tech and finance, while Colombia is an excellent choice for businesses that require multilingual talent and back-office support. All in all, it’s clear that South America is a growing hub for global business, offering a rich talent pool of highly skilled and diverse professionals.
>> Ready to start hiring? Fill out the form and one of Vintti's account executives will contact you within 24 hours.
Are South American Workers Culturally Similar to the ones in North America?
Let's break this down:
- Language barriers: Language barriers are often a concern when hiring in countries where the official language differs from the recruiter's native language. However, it's important to note that many countries in South America have a high level of English proficiency among their talent pool. As such, language proficiency may not be as much of a challenge as one might think.
- Legal and tax compliance: Navigating legal and tax compliance can be a complex undertaking, particularly when dealing with different regulations and requirements across multiple countries. However, it's worth noting that many multinational corporations with headquarters in South America operate under global accounting standards such as US GAAP or IFRS. As a result, the experience and expertise of accountants and financial professionals in South America may align with these global standards, making it easier for companies to hire and collaborate with local talent.
- Culture and time zone: Fortunately, the region's business and working practices are not usually a problem as they are culturally similar to Noth America. Time zone differences might seem like a challenge but it depends on the region. For instance, Brazil and Argentina only have a 2-hour difference to New York. With some good communication and management tools and clear guidelines, companies can get to a seamless cultural merge and efficient workflow.
How to Find the Right Talent in South America
Finding the right talent in South America has become much easier in the last few years as technology has narrowed cultural differences and work practices, resulting in more culturally similar professionals. Nevertheless, seeking for a candidate offshore still requires a strategic approach and a deep understanding of the local job market. Using South American staffing agencies and job boards can be particularly effective so let’s see what each one of them can make for us:
Partnering with Local Staffing Agencies:
One of the best ways to find the right talent in South America is to partner with local staffing agencies. These agencies have a deep understanding of the local job market and can help you find candidates with the right skills and culturally similar experience for your company. They can also provide valuable insights into local employment laws and regulations, making it easier to comply with local labor laws and avoid legal issues.
Social Media and Job Boards:
Another very popular way to find talent is to use social media platforms like LinkedIn and Facebook to reach job seekers. You can also use online job boards such as InfoJobs and Konzerta to post job vacancies and attract candidates. It is important to tailor your job descriptions and requirements to the local market to attract the right talent.
Keep in mind that most of these social networks don’t offer customized support on background checks or work samples, so you will need a very detailed selection process so as not to reach the wrong candidate and avoid scams.
Why your next hire should come from South America
South American workers are known for their work ethic, dedication, and flexibility. With a culturally similar mindset, these workers are an excellent choice for companies looking to expand their operations without sacrificing revenue growth.
By hiring talent from South America, companies can tap into the region's diverse talent pool, build local partnerships, and expand their global reach. In short, South America is a great choice for companies looking to find the right talent and take their business to the next level.
>> Ready to start hiring? Fill out the form and one of Vintti's account executives will contact you within 24 hours.
Kevin Mitchell, CPA
Senior Manager and CPA with over 20 years of experience in accounting and financial services, specializing in risk management and regulatory compliance. Skilled in managing audits and leading teams to deliver exceptional services. Proud father of two.
