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It’s a worker’s market. Top talent can pick and choose their place of employment, and your growing company may be feeling the pressure. A McKinsey report showed that employers in Europe and North America will experience a shortage of 16 million to 18 million college-educated workers in 2020.
The talent shortage is even more acute if you’re searching for tech talent in the U.S. The Bureau of Labor predicts that in 2020 there will be 1.4 million more software development jobs than applicants.
Tight labor markets motivate companies to get a little more creative in how they recruit, but also where they recruit. One of the best ways to beat out the competition is to stop looking in the same markets for the same candidates. Instead, find new geographic areas where you can identify emerging and untapped talent markets to give your team the edge.
Here are five of the top new places to look for tech talent:
Toronto’s tech scene is growing by leaps and bounds, as evidenced by the 80,100 tech jobs added in the past five years. In North America rankings of tech talent by city, Toronto places third, behind San Francisco and Seattle. Some of the ranking factors included completed degrees and talent supply, so in Toronto, you’re accessing a highly educated, populous tech workforce.
Uruguay is quickly becoming the “Silicon Valley of South America” due to the country’s focus on education and learning initiatives, and its ease of doing business.
The tech industry exports $1.5 billion in products and services on an annual basis, 66 percent of which is directed to the U.S., making Uruguay the leading software exporter in South America, and the third worldwide.
One of the top factors that led to Uruguay becoming a rich tech talent pool is the government granting free education access from preschool through the university level – overall 4.5 percent of its GDP is invested in education.
Uruguay was one of the first countries to adopt the “One Laptop per Child” program in 2008, and today almost all the 300,000 children in Uruguay’s schoolchildren have access to computing, leading to an influx of enrollees in college computer science, IT, and engineering programs.
If you’ve found a candidate you’d like to hire in Uruguay, get informed on Uruguay labor law and stay compliant through the hiring process.
As the ninth largest country in Europe with a population of 37.8 million, Poland has become a hotbed of tech talent, and one of the biggest hubs in Europe for global tech companies.
Poland is home to over 100 colleges and universities. There are approximately 140,000 graduates enrolled in engineering courses. Overall, it’s a highly educated population. Poland is in fourth place in Europe for the number of people enrolled in any higher education program.
Learn more about hiring in Poland and what your responsibilities are to your employees in this country.
Ukraine’s talented workforce is attractive to many Fortune 500 companies – over 100 organizations like Samsung, Google, and Microsoft hire R&D teams in cities all over Ukraine.
The IT industry is expected to reach $5.4 billion in 2020, thanks in part to the country’s emphasis on developing its students’ STEM capabilities. The talent pool includes approximately 185,000 IT specialists.
Hiring in Ukraine is much easier when you know what to expect. Learn more here.
As the ninth largest country in the world by population (and the largest by land area), Russia does not disappoint as a producer of highly qualified tech talent. Russia generates more software engineers than any other country, and the tech talent pool currently has an average age of 38.
Russian labor laws can be tricky to navigate, so get an in-depth look before you make an offer.
Looking for more advice on finding, hiring, and managing your global team?
Globalization Partners can help.
Globalization Partners enables you to hire in more than 170 countries within days, and without the need to set up costly international subsidiaries. You identify great talent anywhere in the world, and we put them on our fully compliant global payroll – lifting the burden of global corporate tax, legal, and HR matters from your shoulders to ours.
Contact us today to see how we can help you expand your tech team around the world.