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Global Talent Update – March 2022

March 18, 2022 ──── MRINetwork
Employment News, Global Talent Update

Global Talent Update – March 2022

Global Talent Update - March 2022
“We have to assume that disruption and accelerated change will always lie ahead. Organizations must approach issues with built-in adaptability and agility. Speed is important; we need timely information, up-to-date strategic agendas, and shorter decision cycles. When circumstances change, so too must the response of business. To face uncertainty, companies and their leaders have to be flexible and always learning.” – Bert Miller, President & CEO, MRINetwork

EMEA

The number of African web developers continues to rise across the continent, a new Google report shows, increasing nearly 4% in 2021, despite the economic impact of the COVID-19 pandemic. Following a 22% rise in the use of Internet services among small and medium-sized businesses, the need for web development services has also boomed, along with higher demand for remote work. Nearly 40% of African developers work for a foreign firm, which also accounts for the rise in salaries and full-time jobs. But demand for tech talent in Africa is slated to outpace supply — a problem that has fueled the growth of tech bootcamps and other developer training programmes.

Other key takeaways from the study include: VC investment in African startups rebounded as the digital economy expanded; learners, junior developers, as well as underrepresented groups including women, need more support; educators, technology companies and governments are undertaking initiatives to strengthen the developer pipeline; and Nigeria is a striking example of the symbiotic relationship between digital transformation and developer growth in Africa.

Access the Google report at African developers: creating opportunities and building for the future | Google.

ASIA PACIFIC

According to a recent report from McKinsey, top of mind for Asia’s corporate leaders is how to tackle weaknesses in performance that preceded the pandemic, and how to position themselves for success in an era that may be volatile, shaped by accelerating technological change, and influenced by the threat of climate change.

For all the undoubted dynamism of the region and significant growth in Asian corporations on the back of a huge wave of capital investment, there has been weakness in value creation. Asia had more “troubled” companies (those with deep economic profit losses) and fewer economic champions, and the pandemic widened the gap between leaders and laggards. Nevertheless, corporate Asia proved to be resilient in the face of the shock of the pandemic, expanding profits. As economies continue to rebound, there appears to be considerable momentum that can enable leading companies to use the pandemic as a catalyst for enhanced performance.

Companies in Asia need to build new capabilities to thrive in a radically different world, advises McKinsey. The question is how. Go to Building 21st century companies in Asia | McKinsey to access the report on the evolving corporate landscape in Asia and five themes that emerged most strongly from a series of interviews with CEOs in the region that can determine success or failure in the period ahead.

THE AMERICAS

Latin America is also facing skyrocketing demand for tech talent as the supply remains relatively scarce, fueling fierce competition between startups, established tech companies, and outsourcing giants for qualified workers. While other regions across the world face similar shortages, Latin America produces far fewer tech graduates than Asia. Meanwhile, its proximity to the U.S. makes it a prime location for outsourcing for American tech companies, increasing the value of skilled workers to companies at home and abroad.

For the Latin American startup ecosystem, 2021 was a landmark year, as venture firms pumped up to $20 billion into the region — more funding than ever before. Experts estimate that the region will see 10 million new IT job openings by 2025, driven both by local companies and the increasing demand from offshoring organizations looking for cheaper talent in the same time zones as U.S. companies — a practice called “nearshoring.”

Tech workers often make well above the average salary in their respective countries. In Argentina, they make more than five times more than the average salary, according to data from Salary Explorer and surveys from Latin American IT outsourcing company CodersLink. In Mexico, it’s more than triple the average.

The report comes for Rest of the World, an international nonprofit journalism organization that “documents what happens when technology, culture and the human experience collide.”

Read the full report at “It’s a bloodbath”: U.S. companies are pillaging Latin America’s tech talent | Rest of World.