Much attention has been given to the political drama unfolding in Peru, with a combative congress doing all it can to remove the Andean country’s leftist president, Pedro Castillo. What hasn’t grabbed the headlines is that Peru’s economy remains in pretty good shape, all things considered. It will see modest growth this year and next, and its 8.28 percent inflation rate puts it within the regional average. The IT/tech sector is seeing the most robust growth, so it’s no surprise that foreign companies and tech entrepreneurs are hiring software developers in Peru in greater numbers. Here are some Tips for Hiring Tech Talent in Peru / Hiring Software Developers in Peru.
Globally, demand for tech talent far exceeds supply. One recent survey found that 61 percent of HR professionals believe finding tech talent will be their biggest challenge in the coming years. For this reason, everyone from tech giants to small startups are looking to Latin America to fill the skills gap. This article will provide some helpful tips for hiring tech talent in Peru.
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Hiring tech talent in Peru: What are the most in-demand jobs?
Global enterprises such as IBM, telecoms giant Telefónica, and international bank BBVA are among the companies looking to Peru and elsewhere in the region for:
- Systems engineers
- Senior product managers
- Product designers
- Software programmers
- Statistical analysts
Government investments in Science, Technology, Engineering and Mathematics (STEM) education over the past decade have paid off, and Peru now has a thriving tech scene. It ranks in the top 10 countries with the highest per-capital levels of tech entrepreneurial activity (1 in 4 Peruvians have started a business in the past four years). Whether it is foreign companies or entrepreneurs who want to start a business in Peru, or are thinking of hiring software developers there, the jurisdiction has never looked better.
With large corporations scooping up all IT/tech workers in sight, the competition for small- and medium-sized enterprises (SMEs) in hiring software developers in Peru can be tough. Here are some things to keep in mind when it comes time to attract the top tech talent to your business.
Best foot forward: Strategies for hiring tech talent in Peru
- Know what the average tech sector salary is, and try to beat it
- Provide a highly flexible remote/hybrid work environment
- Offer a path for career growth and development
- Keep in touch with those in the tech talent pool
- Don’t curtail your talent pool with excessive requirements
Foreign businesses and entrepreneurs must understand that in the current climate where demand far outpaces supply, tech workers can afford to be picky. When a software engineer or product manager steps into your office or hops on a Zoom call, they are interviewing you as much as you are interviewing them.
What follows are five tips for hiring tech talent in Peru. Employ these strategies to make your business as appealing as possible.
Top 5 tips for hiring in Peru
1. Offering a competitive salary is a must – The cost-cutting measures upon which offshoring and “nearshoring” is based will be less pronounced when hiring tech talent in Peru. Before hiring the top software developers in Peru, a company must first research the benchmark salary data to know how much he/she expects to receive. Offering a little more than average might just make the difference between an IT professional signing with your company instead of going with a competing offer.
2. Give the tech worker the freedom to work where they want – In some cases, this won’t be an issue, as many US/European companies that hire tech talent in Peru do so in a 100 percent remote work arrangement. But for companies that have offices in Lima or in other Peruvian cities, don’t force them to commute to the office each day if they don’t want to. One study from 2021 found that 87 percent of IT professionals want flexibility in where they work.
3. Offer tech workers a chance to grow and advance in the company – This tip is just as important as a competitive salary – maybe even more so. IT professionals tend to be more enthusiastic about joining an organization that offers the chance of upward mobility. Industry analysts have noted that many tech workers have taken jobs at companies that pay a little less than others, principally because the company gave them more opportunities for learning and professional development.
4. Keep in touch with local and international IT professionals – Companies must have a contingency in place for when their tech workers resign. Otherwise, these businesses will scramble to catch up to their competitors. Instead, build a network of software developers, engineers, and other tech talent to keep potential candidates engaged and intrigued about what the business is doing. Send out a weekly newsletter about the SaaS your business just launched, and/or what business problem your new product can solve. Cultivating relationships with IT professionals can lead to hiring tech talent in Peru down the road.
5. Don’t curtail your talent pool with excessive requirements – This is especially important for SMEs that may not have the budget to go after the big fish in the tech talent pool. Take a second look at your job posting and strip down the “wish list” qualifications, revealing only the bare-bones requirements. You’d like an IT professional who’s fluent in English, but is it necessary given that all your staff is bilingual? Consider hiring tech talent candidates in Peru that don’t check all the boxes. There’s always the option to upskill in house.
Biz Latin Hub can help you
At Biz Latin Hub, we provide integrated market entry and back-office services throughout Latin America and the Caribbean, with offices in Bogota and Cartagena, as well as over a dozen other major cities in the region. We also have trusted partners in many other markets.
Our unrivalled reach means we are ideally placed to support multi-jurisdiction market entries and cross border operations.
As well as knowledge about hiring software developers in Peru, our portfolio of services includes hiring & PEO accounting & taxation, company formation, and corporate legal services.
Contact us today to find out more about how we can assist you in finding top tech talent, or otherwise do business in Latin America and the Caribbean.
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