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The 5 Main Reasons to Hire Tech Talent in Latin America
PhillyTech is a hiring agency based in Philly that gives SaaS companies the flexibility to hire tech talent in Latin America (LATAM) and the US.
PhillyTech is one of the only hiring agencies based in the United States (Philadelphia, PA) that gives SaaS and Hi-Tech companies the flexibility to bring in tech talent in Latin America (LATAM), locally and nationally throughout the United States.
Over 90% of PhillyTech’s 100+ clients are SaaS and most of them want to focus on hiring talent in the United States. However, there’s a growing trend we’re seeing where our clients want to understand how they can supplement their tech team in LATAM. PhillyTech has successfully hired 150+ in LATAM over the past 5 years and has built a differentiated recruiting team in the US, LATAM and Asia that delivers positive hiring results for SaaS and Hi-Tech companies.
Here are the five most compelling reasons why PhillyTech’s SaaS and Hi-Tech clients are bringing in tech talent in LATAM:
- Great tech talent is available in LATAM.
- Challenging economic outlook for 2023.
- Minimal language barriers.
- Similar work and time zones.
- Lower costs for talent in LATAM.
GREAT TECH TALENT IS AVAILABLE IN LATAM
Latin America has become a jewel in the crown for the rapidly growing demand of engineering talent within US based SaaS and Hi-Tech companies. Over the past decade, Latin America has been quietly investing in their tech talent and the results have been paying off.
In recent years throughout LATAM, governments have invested big money in nurturing tech talent, with a dramatic increase in technical universities, courses and the development of national and local innovation incentive programs like Ruta N in Medellin, Colombia.
The rapid growth of hybrid workplaces within the SaaS and Hi-Tech industry in the US has created a need to find the very best remote talent, and LATAM is becoming the preferred talent source for many organizations. Talent is everywhere throughout Latin America, and with so many different regions offering a plethora of tech stack expertise and IT knowledge, organizations can build experienced, diverse, and cost effective teams very quickly in LATAM.
CHALLENGING ECONOMIC OUTLOOK FOR 2023
Some of PhillyTech’s SaaS and Hi-Tech clients have told us that in the wake of the economic outlook for 2023, PhillyTech needs to do a better job of communicating to the market that we have the flexibility to bring in tech talent from LATAM as well as the United States. Given that 60% of the economists polled by Reuters think the U.S. economy will enter a recession sometime next year and economists surveyed by Bloomberg think there's a 65% risk of a recession over the next 12 months, SaaS and Hi-Tech companies need to take a harder look at outsourcing to LATAM instead of hiring full-time.
Regardless of the economy, the reality for SaaS and Hi-Tech companies is that engineering work still needs to get done. Even if revenues are flat or down, SaaS companies need to find highly effective, cost optimized options to do engineering and development work in 2023.
MINIMAL LANGUAGE BARRIERS
When PhillyTech brings in Latin American tech talent for SaaS and Hi-Tech companies, our agreement states, “All engineers shall speak at a C1 or acceptable English level unless otherwise approved by CLIENT." At C1 English Levels, you would never have any issues communicating with your engineer or developer beyond the normal communication issues that you would expect from any remote engineer in the United States.
On top of this, and according to the 2021 English Proficiency Index (EPI), Levels of English in Latin American countries improved during the pandemic, with more than 70% of countries from the region seeing proficiency growth during 2020.
SIMILAR WORK AND TIME ZONES
SaaS and Hi-Tech companies that want to nearshore in LATAM enjoy very comparable time zones where they can easily work in EST, CST, MT or PST, without disrupting their typical LATAM work schedule. They also work directly for you, attend scrum meetings and work exactly like they would work for your organization as an engineer or developer in the US.
LOWER COSTS FOR TALENT IN LATAM
PhillyTech provides a staff augmentation model for LATAM engineering and development resources and is focused on working with SaaS and Hi-Tech companies. Mid to senior engineering talent in the US costs $75 - $150+/hr and $140,000 - $200,000+ for full-time, while the costs of resources in Latin America go from $42-$49 per hour or from $8,000 to $9,500 a month for staff augmentation. This cost reduction can dramatically impact the bottom line of SaaS or Hi-Tech company.
If you would like to learn more about how PhillyTech can help you hire tech talent in LATAM or the United States, go here to learn more or set up a Free Consultation with us by clicking in the upper right corner of this page.