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The world is facing a workforce shortage, and it’s only going to get worse as tech becomes more important across all industries. The hardest jobs will be filled by companies that offer competitive salaries and benefits plus an environment where employees feel valued. The smartest ones will find ways to get talented people working for their company without sacrificing those perks or alienating existing staff. One way is outsourcing talent in Latin America, which provides access to a deep pool of well-trained professionals at lower cost than hiring onshore programmers.
How the demand for tech talent is increasing.
The demand for tech talent is increasing at an unprecedented rate.
From small startups to large companies, the demand for tech talent is increasing. The demand for STEM workers has increased by 16% in the past five years, with 90% of companies citing difficulty finding qualified employees.
The rise in the cost of finding, hiring and keeping workers.
As we mentioned earlier, the cost of finding and hiring new workers has skyrocketed over the past few years. This is largely due to the fact that there are fewer people available to fill open positions, which means that companies have to spend more time and effort recruiting. They also have to pay higher salaries in order to attract candidates who will stick around for longer than a year or two.
But it doesn’t end there: once you’ve actually hired someone, you’ll have to invest time and money into training them so they can do their job effectively. And then, if they stay long enough (which isn’t guaranteed), eventually you’ll have them promote up through your ranks until they reach an upper management position—and all of this takes up precious hours of your day that could be spent on other things!
In addition, losing employees is expensive too; whether it’s because they were unhappy at work or decided to pursue new opportunities elsewhere (or maybe even both!), having employees leave causes wasted time during onboarding periods as well as any training costs associated with bringing on new talent
How the rise in employee turnover affects your staffing needs.
Turnover is expensive. The cost of losing an employee is far from just the money that you’re paying them, but also the cost of hiring, training and onboarding a new hire. That’s why turnover can be so disruptive to your business.
Turnover not only affects recruiting costs and time spent on hiring but it also impacts productivity as well because when employees don’t feel engaged and happy in their roles they won’t perform at their best or stick around long enough for you to fully invest in them. This means that with each new hire, you start all over again with another set of training costs and time spent trying to get up to speed on what they need to do within your organization.
Finally, when we look at employee turnover relative to company size we see that small businesses tend have higher rates than larger ones—meaning smaller firms may struggle more with finding good talent due to limited resources available for sourcing candidates who fit into their unique cultures (i.e., large companies have more resources).
The advantages of outsourcing your software development needs to Latin America.
The advantages of outsourcing your software development needs to Latin America are many. In addition to lower cost and higher quality, there is also more talent, innovation, and access to new technologies. You can take advantage of this wealth of opportunities by outsourcing your software development needs to Latin America.
Not only do you get better quality work at a lower cost, but you also get a lot more talent than you would in North America or Europe. Additionally, due to the rapid pace at which technology evolves these days, being able to draw on a larger pool of developers allows you greater flexibility when innovating or experimenting with new technologies that may be useful in your business model.
Outsourcing in Latin America can provide a solid way forward for businesses struggling with talent shortages and rising costs.
Outsourcing in Latin America can provide a solid way forward for businesses struggling with talent shortages and rising costs.
Outsourcing to Latin America allows you to tap into a pool of highly-skilled, diverse and cost-effective talent. It also gives your business access to a younger, more tech-savvy workforce that is willing to work remotely. In many cases, it’s possible to save 50% or more on labor costs compared with hiring locally. This means you’ll have more resources available for innovation and growth—and your employees will enjoy increased flexibility to balance the demands of their job with those of their personal lives without having to uproot from their home countries (or move at all).
Out of all the options available, outsourcing software development to Latin America is the best choice for businesses wanting to keep costs down while accessing top talent in tech. It’s not just about saving money anymore; it’s about getting top quality work done by experienced professionals who will make sure that your project succeeds. Reach out if you want to explore in more depth.
