In Latin America the scarcity of candidates and the growing migration of skilled talent to developed countries is being shown as a major challenge
There is no doubt that IT industry keeps growing in Latin America and in the world. According to IDC, worldwide IT and telecommunications spending should reach around 4 billion dollars in 2015, of which the largest part will focus on new technologies such as mobility solutions, cloud and Big Data. In Latin America, the consultancy predicts that IT spending will grow 5.7% this year. However, the biggest challenge for IT companies in Latin America and around the world is to find and retain human capital.
A 2014 survey from Manpower Group Talent Shortage puts IT professionals and engineers among the 10 most difficult positions to be filled. Half of the 10 countries that face more trouble finding professionals are in Latin America: Peru, Brazil, Panama, Argentina and Colombia. An important factor behind this shortage is the low number of graduates with the necessary requirements to fill IT positions. Professionals with university education in the region vary by country, on a scale ranging from 5 % in Costa Rica to 14 % in Argentina; Latin America as a whole is in a lagged production engineers.
Bye bye Latin America
Brain drain is another key issue. The small group of qualified talent often choose to migrate to other countries searching better salaries and professional growth opportunities abroad. According to the World Bank, about 90 % of migrants from Latin America and 70% of all professionals with college Caribbean to migrate to OECD countries seeking better job opportunities.
What is the solution?
To cope with the shortage of skills in the region, it is essential to invest in professional development programs for current employees and new talent. In this sense there is a huge space for businesses aimed at training and improvement of professionals in this field in all Latin American countries.
An effective solution would be to talent management and succession planning. This means that when hiring new graduates, it is important to invest in training in the first few months, before assigning them to specific projects. Once you have hired a talent, the focus of attention becomes retain it. Offer stability, interesting means of professional development and growth opportunities within the company is essential to keep employees in the long run. For current employees, training in new skills helps in motivating and retaining After completing a task in a project, the company must ensure that they will be ready to face the next challenge. Partnerships with universities and governments can be a great retention tool. Solid relationships with such institutions can generate recruitment opportunities and strengthen employee loyalty.
Source: Canaltech, 08/2015