Top 7 Countries for Hiring Tech Talent
The demand for employees with technology expertise is quickly outpacing the talent available in the United States. As a result, businesses are often forced to hire overseas to acquire the necessary workers to scale their operations. In a world of constant disruption, organizations are working extensively to ensure they have the skills to remain relevant and competitive in the global marketplace.
When it comes to the best countries to hire tech talent, Coursera released a report featuring a Global Skills Index (GSI). As one of the world’s largest platforms for higher education, they have a host of unique insights that leverage information from 40 million learners around the world.
This information in conjunction with internal insights from Global Upside has made it possible to present the top 7 countries for hiring tech talent, which are:
- Costa Rica
- The Philippines
Technology drives the necessary innovation for companies trying to maximize their growth potential, but workers with skills in development, coding, engineering, analytics, software, programming and more can be difficult to find. Here’s what you need to know if your business is looking to expand your global tech teams in any of these 7 countries.
Japan has been a dominant tech presence in the realm of robotics and Artificial Intelligence (AI), surpassing countries such England and the U.S. Despite the fact that Japan has made it a priority for its citizens to develop a strong technology skillset, they are expected to have a shortage of such workers in the near future.
Companies looking to hire and retain top-tier tech talent in Japan will need to have competitive offers ready for qualified workers. With such high demand for tech jobs, foreign companies should be prepared to offer attractive salaries and benefits if they hope to acquire and retain talent in Japan.
With demand for tech jobs returning to pre-pandemic levels, Singapore is making a heavy push toward reskilling and upskilling their workforce. Technology experts and business leaders have identified cloud architecture design, cybersecurity, software operations support, web and software development, and large-scale data modeling as some of the most in-demand skills in the country.
According to a Randstad survey, 59% of respondents said that they turned down a job offer because of a mismatch between the advertised job scope and the actual job requirements. Another 38% of Information and Communication Technology (ICT) professionals say they only accept less than a quarter of interview requests they receive. With such a competitive landscape, it’s important for companies to understand the qualifying and competitive offers that will help them land these highly skilled workers. For example, workers in Singapore may only consider companies that offer more flexibility, instead of rigid working hours.
India is a well-known tech hub, especially for jobs relating to information technology. India’s IT industry employs 4.5 million people, which is responsible for 8% of the country’s total GDP. This industry, fueled by the rapid growth of digitalization, is expected to nearly double its IT business process management by the year 2025, according to a report from McKinsey.
However, with demand being much higher than the current supply, many workers are expecting higher salaries and better benefits from employers. This is especially true for workers that have a niche skill set or unique qualifications for a technology position, outside the standard IT knowledge. For example, it is customary in some cases to provide workers with transportation or access to higher education if they choose to work with your business.
Costa Rica has recently been acclaimed as an emerging market for tech talent, as more than 20 Fortune 100 companies including Intel, IBM, and HP have set up development centers there. Much like Silicon Valley, Costa Rica has dedicated much of its space to the development of technological parks, which now hosts hundreds of software development companies.
This is an attractive recruitment destination for global businesses, as the government provides many tax benefits for software companies. With reasonable hiring costs and high employee retention rates, Costa Rica is becoming an extremely desirable destination for hiring tech talent.
Israel is highly competitive in the tech talent space, so much so that the country is struggling to meet the growing demand. In today’s market, workers with skills in software and R&D are highly sought after, which is why the Israeli government has been dedicating extra resources to drive people into those educational sectors.
Amid these talent shortages, the Israel Innovation Authority (IIA) has implemented a strategy to fund startups and projects working to help train skilled workers for the high-tech industry. As they make efforts to increase their talent pools, companies will need to offer competitive compensation packages to acquire the talent they need. For instance, a competitive plan should include a pension scheme, additional paid holidays (outside the normal holidays), flexible work schedule, and life insurance plans.
Unlike many of the other countries we’ve mentioned, Poland has a surging supply of tech talent. When it comes to being a skilled country that provides tech talent, Poland is currently ranked 5th worldwide, according to the Harvard Business Review.
This is in large part due to the number of students specializing in Engineering, which make up about 50% of all graduates. Poland has quickly become a popular destination for businesses looking to acquire top tech talent, as it continues to promote technology in its education system, while simultaneously encouraging business development.
The Philippines has established itself as a robust location for businesses looking for tech talent. On an annual basis, the country produces about 130,000 graduates of IT and Engineering. With companies like Google leveraging the Filipino talent pool, other businesses recognize it as a great resource for technology laborers.
Not only do Filipinos speak very good English, but they also have strong backgrounds in various programming languages, such as Python, Ruby, PHP, and more. In addition to having a high-quality talent pool to choose from, many of these workers are much more affordable when compared to other countries like India or Eastern Europe.
With the supply of tech talent struggling to meet the demand from companies across the globe, it’s more important than ever to work with global talent experts. Global PEO Services, a Safeguard Global company, helps businesses hire and retain top-tier talent faster than anyone else on the market.
Where other companies can only help you hire contractors, we can help you hire full-time employees that will dedicate all their time and attention toward helping your business succeed. Whether you need help setting up your own legal entity, or you want to leverage our existing legal entities through a PEO, we’ve got you covered.
With our experience and expertise, we can help you design competitive compensation packages in 170+ countries. Don’t miss out on finding the right tech talent for your business by working with Global PEO Services today.