Hire in LATAM
Are you planning to hire in LATAM?
Building a global remote team in today’s job market is one of the key identifiers of growth as it expands an organization’s global reach and consumer base. Another sweet spot to going international is the access to building your team from the global pool of top talent.
While there are many benefits to building a global remote team, the process of hiring in Latin America (LATAM) and building a global team can be complex, challenging, and time-consuming. However, with the aid of an Employer of Record like Skuad, you can hire in LATAM and enjoy the numerous benefits of growing a global remote team with no hassle.
Employment stats in LATAM
Latin America is the current big thing for local and global ecommerces who want to reach a market where ecommerce is predicted to increase 30% per year through 2025, thanks to a rising digital-savvy population, booming smartphone penetration, and local fintechs. Meanwhile, the advent of new alternative payment methods, whether locally or not, has profoundly revolutionized Latin Americans' relationship with payments by providing them with the most fundamental things: access and inclusion.
- According to Gallup's State of the Worldwide Workplace: 2021 Report, 45 percent of individuals in the region believe the pandemic has had a significant impact on their life, and the number of employees who have lost a job or business (31%) is comparable to the global average.
- Over half of individuals working in Latin America and the Caribbean during the epidemic have lost wages (57%) and worked fewer hours (57%) while 58 percent have temporarily ceased working.
COVID-19 not only put a burden on the region's formal economy, but it also put the informal sector – which accounts for almost half of all jobs in Latin America and the Caribbean – under pressure.
- According to the Center for Strategic and International Studies, real GDP shrinkage is expected to be approximately 8.1%, greater than in any other area of the world. However, unlike in other economic zones, the region's restricted development expectations for 2020, along with the economic and social sufferings caused by the virus, formed a perfect storm.
Employee involvement fell by 7% points as the economy weakened, returning to 2015 levels of 24%. From Mexico through Argentina, practically every nation in the area had the world's greatest declines in employee engagement, with the exception of Central America.
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Hire with Skuad
Skuad’s global HR platform enables you to hire, onboard, manage payroll and ensure full compliance with the employment laws and tax in over 150 countries. Whether you plan to hire full-time employees or contractors, Skuad enables you to hire in LATAM without requiring you to set up a subsidiary, thereby saving time and money while ensuring full compliance with the employment laws and tax regulations.
Hire your dedicated team of professionals in Latin America with the right set of skills that suits best for your organization with the help of Skuad experts.
Hire, onboard, pay, and manage your remote team in LATAM.
To build a global remote team and hire in LATAM, talk to our People Ops experts today, Book a Demo with Skuad.