Picture this: You’ve just expanded your business and have entered the Latin American market, let’s say it’s in Bolivia. You have hired HR, marketing and administration staff, but you need an experienced problem-solver who knows the business environment well – someone who will be your right hand down there.
In short, you need a VP of operations for the market, but you have no idea where to look. Your best bet is to seek the services of a local headhunter who can track down the type of talent you’re looking for.
Another, more frequent scenario, is that companies are looking to recruit software developers, programmers, computer engineers and other tech talent – all these professions have been in high demand since the Covid-19 pandemic kickstarted a global work-from-home trend.
Bolivia has undergone a digital transformation in recent years. The government, financial institutions and private companies are incorporating more digital technologies to bring Bolivia up to speed with its South American counterparts, and new initiatives across the country are nurturing a generation of young entrepreneurs.
SEE ALSO: How to register a company in Bolivia
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What are the benefits of hiring tech talent in Bolivia?
- Increased internet connectivity in the country
- Improvement in English speaking ability
- A growing pool of eager tech talent
- Low cost of labor compared to developed countries
- Close time zone, proximity to the United States
Top 5 reasons to give IT recruitment in Bolivia a closer look
1. Increased connectivity
Bolivia has experienced immense growth when it comes to connectivity. Over the past five years, Entel, Bolivia’s state-owned telecommunications company, installed nearly 20,000km of fiber-optic cables, helping to connect the length and breadth of Bolivia to the internet. Further, Bolivia’s three biggest cities, La Paz, Santa Cruz and Cochabamba, have enjoyed 4G connectivity for many years.
2. Rise in English proficiency
Although Spanish is the official language of Bolivia, along with three other indigenous languages, English has become particularly popular among IT students – mainly because their textbooks are in English, and students must sit their tech-related exams in English.
English education is now mandatory in all private and public schools in the country, starting in the first grade in private schools and the sixth grade in public schools. What’s more, Bolivia is among the top 10 countries in Latin America with the highest level of English, above Peru and Mexico.
3. A growing pool of tech talent
For IT recruitment in Bolivia, a good place to start looking is in the freelance sector. Tech talent is on the rise among its young and tech savvy professionals in the workforce. A sizable portion of Bolivian software developers, full-stack developers, programmers and engineers choose to offer their talents on a freelance basis. Freelance software engineers in the country also contribute by earning up to $20 million per year on average, with most of this revenue is generated from tech firms in the US.
4. Low costs of labor
Setting up shop in Bolivia is made all the more attractive when considering the country’s low cost of labor. Software developers in Bolivia earn about $75,000 Bolivian Bolivianos (BOB) per year, which is just under $11,000 USD per year. Considering that software developers in the US demand a salary of $100,000 USD per annum, it’s easy to see the vast cost-of-labor savings that companies can take advantage of by near-shoring their tech talent.
5. Close time zone, proximity to the United States
One of the most notable downsides of hiring a remote team from Europe, the Middle East or Asia is the night-and-day difference in time zones. Along with making collaboration a pain, time zone differences and the inability to check in with the developer or programmer can lead to delays, misunderstandings, and missed deadlines. One fringe benefits of headhunter & IT recruitment in Bolivia, is that the Andean country’s time zone is equal to the US’ Central Standard Time (CST).
Headhunter & IT recruitment in Bolivia: What to look for in a headhunter?
Unlike finding the right tech talent – which is largely the task of your HR department (and to some extent the marketing department) – the services of a headhunter arise when you need to fill a senior leadership role, and you know you can’t find the person you need simply by putting up a job posting.
When searching for a senior leader for a VP of C-suite position, it’s unwise to leave such a selection to chance. That’s why it is important to hire a well-connected headhunter to go out and actively scour the local business community to find the leader you’re looking for, and entice him/her to leave their current position and come join your team.
Find a headhunter with industry experience – A good headhunter is a specialist in a certain field; an industry insider with access to networks, connections, and resources he/she has cultivated from years in the role.
How many ‘big-fish’ has the headhunter bagged in the past? – “Big fish” meaning high-ranking or reputable VP or executive-level officials. If the headhunter you’re considering hiring has never successfully got the job done – or is really vague about their supposed “successes” – consider this a red flag, and reevaluate if this person is right for the job.
Find a headhunter who understands your needs – Aside from C-suite level leadership and experience (which is a given), is your headhunter also considering a candidate with the soft skills and personality factors that he/she knows would fit into your company’s culture? The vast majority of employers (93 percent) consider so-called soft skills to be “essential or “very important,” and so should you.
Choose a headhunter with high-level communication skills – When it comes to headhunter & IT recruitment in Bolivia, you need to ensure that the headhunter is not only extremely fluent in English and Spanish, but also knows that western businesspeople want to hear regular updates – and need to communicate and hear back from them much more frequently than many Latin Americans would consider necessary. Hiring a headhunter who doesn’t understand this cultural difference in terms of US vs. Latin American communication can and will lead to frustration.
Biz Latin Hub can help you with headhunters & IT recruitment in Bolivia
At Biz Latin Hub, we provide integrated market entry and back-office services throughout Latin America and the Caribbean, with offices in Bogota, La Paz, as well as over a dozen other major cities in the region. We also have trusted partners in many other markets.
Our unrivaled reach means we are ideally placed to support multi-jurisdiction market entries and cross-border operations.
If you are looking for a headhunter & IT recruitment in Bolivia, our portfolio of services includes hiring & PEO, accounting & taxation, company formation, bank account opening, and corporate legal services.
Contact us today to learn more about how we can assist you in finding top talent or doing business in Latin America and the Caribbean.