Global hiring trends are shifting, and nearshore is the growing trend. But why outsource to Latin America instead of other regions like Asia or Eastern Europe? Here are six top advantages of nearshore outsourcing.
1. Time zone:
Many countries in Latin America share similar time zones with the United States, which can make it easier for companies to communicate with their outsourcing partners and coordinate work during regular business hours.
2. Proximity:
Latin America is geographically closer to North America, which can reduce shipping costs and lead time for goods, and also make it easier for companies to communicate and collaborate with their outsourcing partners.
3. Cultural similarities:
Latin America and the U.S. share many cultural similarities, which can make it easier for companies to work with outsourcing partners in Latin America, as they may have less difficulty understanding each other's business practices and communication styles. Many skilled workers in Latin America have lived or spent time in the U.S. and Canada, increasing cultural affinity and understanding.
4. Language:
Many skilled workers in Latin America have an advanced level of spoken and written English, which makes them a great asset for U.S. and Canadian teams. Additionally, the fact that much of Latin America is Spanish-speaking can be an advantage for companies looking to outsource language-related tasks.
5. Cost:
The cost of labor in Latin America is generally lower than in the U.S., Canada and Europe, which can make outsourcing to Latin America a cost-effective option for companies.
6. Skilled workforce:
Latin America has a growing number of highly skilled and educated professionals, particularly in the fields of technology, engineering, and finance. The region has a wealth of excellent universities that train top talent.
It's worth mentioning that labor laws and regulations are different in Latin America, which can lead to different challenges. Also, it's important to note that the benefits of outsourcing to the region vary depending on the country, and some countries may have better infrastructure and business environments than others.
The Cost-Benefits of Nearshore Outsourcing
Curious about the latest nearshoring trends or the financial impact of nearshore outsourcing to Latin America? Check out our free cost comparison guide, which covers jobs in software, tech, contact centers, accounting, and legal support.
