Report: Puerto Ricans working remotely up 235% in 1st half of ’22
The number of people based in Puerto Rico hired by global companies through compliance and payroll solution firm Deel to work remotely showed the biggest jump in the Americas — 235% — during the first half of the year, according to the firm’s Global Hiring Report.
Global hiring across Latin America — the region that most companies look to when hiring abroad, followed by Asia Pacific — grew by 161% and it is still on the rise, Deel, which helps companies hire anyone, anywhere through its global compliance and payment management solution, stated.
The report, which analyzes data based on more than 100,000 contracts made in more than 150 countries, also shows that many global companies are hiring talent in the region.
Canada is the country that hires the most Puerto Rican professionals, while U.S companies tend to hire professionals from Costa Rica and Panama.
“Global talent sourcing is a trend that is here to stay, and it proves to organizations that their talent pool can be as large as the world’s economically active population. This new edition of the report shows that there is great interest in hiring diverse talent to collaborate with local companies,” said Pepe Villatoro, Deel’s regional head of expansion for Mexico, Central America, the Caribbean, and Spain.
“But at the same time, this phenomenon evens out the playing field for professionals from the region, who can now have access to different opportunities from all over the world, while aiming for more competitive salaries without leaving their homes,” he said.
In the region, the positions most sought out by companies during the first half of 2022 were systems engineers, developers, graphic designers, and project managers.
In terms of age, in Puerto Rico, Panama and Costa Rica, the report shows that young people between the ages of 25 and 34 are the ones who prefer to work remotely, followed by those between the ages of 35 and 44.
The impact of global hiring on salaries and the use of cryptocurrencies
Access to a larger pool of high-quality talent, regardless of their country of residence, is driving up international hiring, the report stated.
As a result, salaries are also increasing around the world. In the ranking of the ten countries that saw the greatest increase in salaries, Brazil ranked number two (174%), Argentina number six (117%) and Mexico number eight (108%), considering all talents hired through Deel.
The positions with the highest salary increases in the region were quality engineers (205%), product managers (205%) and operations (184%).
Individuals hired through Deel can withdraw part of their payment in cryptocurrencies, an option that remained stable compared to 2021. Globally, 5% of withdrawals from Deel’s platform have been in crypto since January 2022 up to the present date, a 3% increase in comparison to the previous six months.
The regions with the highest withdrawals in cryptocurrencies are Latin America (67%); Europe, Middle East, and Africa (24%); far behind is North America (7%) and Asia Pacific (2%). Bitcoin, USDC and Ethereum are the three most chosen currencies. The amount of withdrawals made in cryptocurrencies in Panama is 8%, in Costa Rica 3% and in Puerto Rico 5%.
