As software has eaten the world and venture capital funding has skyrocketed, one category of disruptive tech startups has flown under the radar: HR Tech, the technology transforming how companies manage their people and making possible the so-called future of work. The pandemic, however, catalyzed explosive growth in what had been a steadily emerging industry.
A scarcity of technology talent, combined with the increasing popularity of hybrid work, is leading U.S. tech companies to scout for new hires in Latin America. There, they a number of qualified candidates who’ll work for lower pay. Latin American companies have thus begun to prefer generalists over specialists as they recruit. Until now, the workforce has largely been responsible for investing in training, but technology helps identify broader skillsets for recruiters and highlight training opportunities for candidates.
At a time when innovation is a priority, the importance of taking full advantage of the commitment and talent of employees is undisputable. Human Resources management in Latin America requires innovative methodologies that increase engagement among employees, who thereby make the organization’s challenges their own. Technology and initiatives that rely on technology appear as great allies, with actions like active listening programs that focus on employees, or programs that promote intrapreneurship. The digital transition in organizations has practically become a necessity: business models have changed and adapting to this new digital world is almost an obligation.
HR teams simply cannot effectively manage all this operational and regulatory complexity with their traditional solutions, which in most cases continue to be spreadsheets, emails chains or on-premise tools. There is one key concept: HR offerings are only now starting to be collaborative as HR cloud solutions gain penetration in Latin America.
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