Op-Ed: Overcoming the challenges of international sourcing
Remote work has brought forth challenges for both employees and companies. Even so, at a global level, it is no longer a temporary trend; it is becoming a permanent fixture in the working world. Along with digitalization, remote work is giving way to a practice that is already gaining ground in Latin America, which is international hiring.
This enables the possibility of hiring the best talent, regardless of its geographical location.
Today, companies can focus and guide the search based on the skills and knowledge of the talent, as they can live anywhere in the world and still be part of the company. This is possible, not only thanks to the latest technologies and innovative software to manage and organize international teams, but also to the communication skills demonstrated by teams and managers and a strong culture that can be conveyed despite the distance.
International hiring offers clear benefits for companies, but at the same time also poses some challenges. How to measure productivity, how to manage diverse teams in an inclusive manner, and how to achieve objectives, just to name a few.
But prior to recruitment, companies must successfully negotiate with the selected professional, which requires information on the trends and conditions of each market.
Although Central and Latin America have certain characteristics in common as a region, each country has its own particularities and it is important that HR teams are aware of them, to ensure that they are offering each talent a competitive offer.
In all countries, salary is one of the most sensitive issues when recruiting remote workers.
Therefore, it is important to know the minimum and average salary in other markets, to offer compensation that complies with the regulations of each country and attracts the best talent. The type of compensation offered by the company will vary according to the activity developed by the worker, his or her experience, the position he or she occupies and, above all, where he or she is located and the purchasing power in that location.
It is not the same to recruit a collaborator in Puerto Rico or in Costa Rica. The labor regulations of each country regarding teleworking are not the same, nor is the quality of life.
There are measurement tools that provide information on the most sought-after positions in each country and the maximum and minimum salaries and payments offered according to seniority. For example, Salary Insights, a tool created by Deel to provide updated information on salary trends worldwide.
Based on the analysis of data from 100,000 contracts made through its platform around the world, it provides access to salary reference values in different countries and areas of expertise. For example, in Panama, software engineers can earn between USD 14,700 and USD 85,200, according to seniority, being this the most sought-after profession in the country.
So, those seeking to recruit this profile can find out which offer is not only the most tempting for local professionals, but also the one that adjusts to the minimum amounts offered locally.
The benefits that international recruitment currently offers to managers and collaborators result in a differential value for the company, but it is important to stay on top of the new challenges that may arise, and to know the necessary technology that enables the shortening of distances. So that it is possible to recruit the best talent, no matter where it is.
