When exploring the employment landscape in Brazil, one quickly discovers a burgeoning trend of growth and opportunity, especially in the technology arena. As we delve deeper into sector-specific hiring trends, it becomes clear that the technology industry is leading the charge, offering an abundance of skilled positions that are shaping the future of the Brazilian labor market. A fundamental shift occurred in 2023.
The retail industry, traditionally a powerhouse in the job market, experienced a significant surge with a 72% increase in job openings. This growth, however, is only one piece of a larger narrative. Throughout this article titled “Top Tech Jobs Affecting Hiring Trends in Brazil,” we will uncover the key players, significant changes and emerging trends that are defining the Brazilian employment landscape.
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Here are the most sought-after tech jobs in Brazil in today:
- Software developers
- Database administrators
- Network administrators
- Information analysts
- Computer support specialists
- Employees with miscellaneous computer skills
There is strong demand for all things tech: project engineers, software developers, designers, full-stack developers, database administrators, and data/systems analysts, and technical support roles. So it’s clear that hiring trends in Brazil are leaning heavily toward the technology market.
Hiring Trends in Brazil Affected by a Short Supply of Tech Talent
Despite the optimistic hiring trends in Brazil, the tech industry is grappling with a significant challenge – a shortage of skilled talent. The demand for tech professionals is skyrocketing, outpacing the available supply and leading to a widening talent gap. A report by Nearshore Americas projected that by the end of 2022, as many as 400,000 IT and tech roles would remain unfilled. This trend continued into 2023, with the tech sector experiencing a growth of 23.9% since 2020, and a 12.3% growth after 2021, significantly boosting Brazil’s GDP.
However, the talent shortage persisted. The World Economic Forum reported in April 2023 that job openings in the United States exceeded 9.9 million, yet there were 5.8 million Americans who were unemployed. This discrepancy between available jobs and workers often comes down to skills.
What are 4 Ways that Brazilian Employers Can Fill the Tech-Talent Void?
Here are the 4 ways that Brazilian employers can fill the tech-talent void:
- Higher salaries.
- Flexible/hybrid work environments.
- Invest in tech-related training.
- Cast a wider net by improving diversity.
Below we explore each of these points in more detail:
- Higher salaries – This one is a no-brainer. It’s a mistake to assume that the lack of tech talent in the Brazilian labor market means that there’s a lack of qualified workers in the country. There are hundreds of thousands of highly skilled tech/IT workers in Brazil, but a large portion of them are technically working in the US and other developed countries and do so in a work-from-home employment arrangement. They make dollars, pounds, or euros, and that, combined with a depreciated local currency, means that it’s quite lucrative for them to do so. If Brazil-based employers want to attract local tech talent, they need to match or beat the salaries that tech workers are making overseas.
- Flexible/hybrid work environments- Recruiters all over the world are using hybrid/work-from-home environments as an incentive to draw the best tech talent, and employers in Brazil would be wise to do the same. Who wants to battle congested commutes and traffic-jams just to get to an office every day when you can do the same job from the comfort of your own home?
- Invest in tech-related training – One way to fill open positions in your firm is to approach the best people you already employ and offer to pay for them to be trained as software developers, computer engineers, or database administrators, and the like. In many cases, employees already have a solid tech foundation, and training would bring them up to speed (aka up-skilling).
- Cast a wider net by improving diversity – Managers should be looking for more diverse hires, as this promotes innovation and profitability, according to a report conducted by the online employment publication Clinch. Brazil-based employers can open the door to a larger pool of talent by diversifying recruitment strategies, offering equal pay for equal work, sourcing a more diverse range of candidates, and implementing strict anti-harassment/HR policies.
With high inflation, supply chain issues and conflict in eastern Europe, the negative impact of global economic volatility has been felt the world over. But Brazil’s economy remains stable, as does its investment climate. It is no surprise then, that hiring trends in Brazil continue to be robust.
Much of the Brazilian business community remains optimistic, with many firms planning to increase investment in technology and training, with an eye on boosting revenue growth, according to a country report by Deloitte.
Biz Latin Hub can help you with hiring trends in Brazil
At Biz Latin Hub, we provide integrated market entry and back-office services throughout Latin America and the Caribbean, with offices in Bogota and Cartagena, as well as over a dozen other major cities in the region. We also have trusted partners in many other markets.
Our unrivaled reach means we are ideally placed to support multi-jurisdiction market entries and cross-border operations.
As well as observing the latest hiring trends in Brazil, our portfolio of services includes hiring & PEO accounting & taxation, company formation, bank account opening, and corporate legal services.
Contact us today to find out more about how we can assist you in finding top talent or otherwise doing business in Latin America and the Caribbean.
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