In September and October 2020, Biz Latin Hub surveyed businesses and executives about their plans for hiring in Latin America over the next 12 months. Among them, a whopping 93.3 percent said they were considering hiring local staff in the coming months.
Our team received responses from CEOs, project managers, directors, administrators, lawyers, and other professionals from different sectors across Latin America.
Notably, despite disruptions caused to some businesses by the COVID-19 pandemic, many said they have already begun the process of recruiting new team members. Meanwhile, other companies said they intended to hire staff in Latin America despite not having a legal presence in the region, likely via a professional employer organization (PEO).
Read on to discover the key findings of our survey on people’s plans for hiring in Latin America over the next 12 months.
Hiring in Latin America: how many will be hired?
Among the survey’s 31 respondents, 29 are currently doing business in Latin America or will do so in the future. With over 90 percent expressing their intention to hire over the next 12 months, it seems the growing interest in business expansion in Latin America seen in recent years has not subsided, and many companies are expecting growth in 2021.
Among respondents, over one third (37 percent) said they intended to hire up to three people for their company within the next 12 months. Meanwhile, 23 percent reported intending to hire 4 to 10 new employees.
Twenty percent of respondents said they would be hiring 100 or more new employees, highlighting a significant number of major commercial expansions into the region.
Industries seeking labor in the region
The sectors that most commonly reported seeking staff in Latin America among our survey respondents were IT and tech (29 percent) and professional services (19 percent). Ten percent of responses came from employers in manufacturing.
With many countries in the region home to booming IT and tech industries, it is perhaps of little surprise to see companies in the sector expecting to need more manpower.
Other industries that reported seeking staff included security, international trade, marketing, finance, mining, agriculture, and hospitality.
Where in Latin America are companies planning to hire?
The countries where respondents most commonly reported wanting to hire were Colombia and Peru. However, participants reported wanting staff throughout the region, from Mexico to Chile, as well as in the Caribbean. Notably, 35 percent of respondents planned to hire in more than one Latin American or Caribbean country, including 19 percent expanding into at least three.
What roles are companies looking for?
The final section of the survey asked respondents about the roles they plan to hire for in Latin America. The most common responses were in tech and sales, with workers from each sector wanted by 26 percent of respondents.
Management positions were wanted by 16 percent of respondents, while operational specialists were wanted by 13 percent of respondents. Other roles sought after included marketing professionals and back-office specialists, while 35 percent reported seeking workers from multiple specializations.
Expand your workforce in Latin America with Biz Latin Hub
At Biz Latin Hub, we are here provide guidance and support when expanding into Latin America. With our full range of market entry and back-office services, our multinational team of professionals can support you with hiring in Latin America, company formation, trademark, accounting, commercial representation, visa, due diligence and other market entry and compliance needs when expanding your business in Latin America.
Contact us for more information.
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