Trends in the Global Hiring Market
We are undoubtedly facing an unprecedented moment.
New ways of interacting have brought us important changes and increased the level of competitiveness in the global market, both for talent and companies.
The globalization process, which was always focused on the free movement of trade items but not of people, is now showing us a scenario that is, to say the least, ironic.
Talent (in various areas, not only in the IT sector) has seen how the possibilities of working from anywhere in the world – even in constant movement, like the digital nomads – arise not as a momentary phenomenon, but as a new reality.
This is why we find it extremely useful for all stakeholders in the IT sector to share relevant statistics and trends that support mentioned facts and point out the countries and jobs that are most actively impacted related to these global changes.
The Tech Industry typically grows 6% each year, and finding the right candidates is certainly a major challenge.
A recent McKinsey & Company survey, which is based on the response of over 25,000 employees, shows that 2 elements trigger the motivation to look for a new job, greater pay & better career opportunities.
However, there is one that is just behind and represents a sample of this current moment: flexible working arrangement
Based on the latest Deel’s State of Hiring Report, using data from 100k cross-border contracts across 150 countries and over 500k salary data points, we can see an overview of what is currently happening in the global hiring landscape.
We can share the following insights under 2 important criteria:
1. WHO (is getting hired) & WHERE (are hiring from)
The region that has the highest growth regarding contractor hiring model is, without a doubt, Latin America (156%). Followed by EMEA (107%), Asia Pacific (96%) and North America (81%).
The countries that, under contractor mode, are having the highest hiring percentages, are also concentrated in Latin America and are, in order: Dominican Republic, Israel, Argentina, Costa Rica and Malaysia.
The top 5 positions that are being contracted are: Software Engineer, Account Executive, QA, Product Designer and Consultant.
2. WHO (is being paid the best)
Employees in the following countries have seen their pay (on contractor models) increase substantially: Mexico, Canada, Pakistan, Argentina, India, Philippines, and Russia.
The job fields that have seen the largest salary increases are software development, marketing, sales, and product.
The way of collecting payments has also changed, and today who dominates the world stage regarding the methods of withdrawals is the global cryptocurrency network.
52% of crypto withdrawals are concentrated in Latin America, 34% in EMEA, 7% in the Asia Pacific, and the remaining 7% in North America.
The main countries that have seen an increase in their cryptocurrency-related activities are Argentina, Nigeria, and Brazil.
Once again, worldwide statistics reinforce the consolidation and growth of Latin American talent.
#LookSouth, we have a lot to offer.