Article published by our beloved member Daniel Iriarte, GLUE’s Partner.
The massive implementation of remote or hybrid work, installed as a reality in a large majority of companies internationally, has allowed companies to expand their borders in time to recruit executives for their projects, accessing the best available talent.
According to the last report of Global Talent 2021 by Oxford Economics, the new geography of talent is changing Human Resources strategies at a global level and this is mainly due to the convergence of factors: the demand for new skills and competences that the scenario demands current business and major technological advances that enable connectivity and the “proximity” from anywhere in the world.
In this scenario, the dynamics of talent supply and demand is being reconfigured. This phenomenon is escalating and blurring the talent frontiers locally and in the region. Every day more companies are encouraged to hire, transcending geographic limitations because they need to incorporate talent that is always available in their markets.
Technological companies have been pioneers in designing cosmopolitan teams and opening up to incorporate regional and global talent. However, with the pandemic, the rise of the home office and the hybrid format, this trend has extended to other industries on the ground linked to the digital world. Today the companies started to have a wider view, in particular in certain roles, and to give an account of the value that has to focus on the searches from an expanded talent perspective.
Limiting itself to its own geography, today it reduces the possibilities of finding the best talent for certain strategic positions or with some specific know-how and this has an impact on the development horizon of companies that are limited to hunting the market in their country.
Adopting a regional vision, understanding that the position can be based in any part of the world, opens up to companies a global pipeline of professionals that allows them to scale their own growth horizon.
Today talent has no borders
The technology allows that today any person in any place in the world is a potential candidate to cover a position because what matters are the skills he possesses and not so much his location is that the same capabilities are applicable to any sector that requires them.
There are industries that understand this for the time and run with ventaja, being able to count on a unique regional talent pool within reach.
The industry of knowledge and the consultancy, the technology-based companies and the ecosystem of digital companies have adopted these new logics and are comfortably surfing the hello because they are segments where the location weighs less and because they have fewer limitations when adapting to new formats of work and hiring. There are also sectors where geographic location dictates, when they are faced with a shortage of talent at the local level, they are forced to open up to this trend and make their mindset more flexible.
Of course, the mismo system has to accompany so that companies can have a pipeline of regional talent. In practice, due to the rigidity of our labor legislation or by internal regulations specific to the company, this type of hiring of talent from a regional perspective is complex.
Another important factor in the equation is the exchange rate and market competitiveness. Today Argentina is an exporter of talent to the region. The expertise of local talent has always been highly valued abroad, in addition to the cost-effectiveness of Argentine profiles for companies with operations abroad.
In this sense, in addition to the profiles of more young people who choose to migrate to gain experience in other markets, there is an important volume of talent in executive positions in Argentina, which, despite losing relevance, the local operation is being expatriates to Colombia, Mexico, United States. or Europe.
To this is also added another trend that is the remote export of talent, which allows Argentine executives to work in our country, but for the regional or international market. This type of contracting increased by 1500% between 2020 and 2021 in Argentina, being Latin America the region with the greatest growth in remote international contracting with more than 3300% annual increase according to a recent Deel report.
In conclusion, the new geography of talent is changing human resources strategies and companies that embrace the change more quickly, being able to capitalize on the benefits that the regional viewpoint offers.
GLUE – our member from Argentina