A Challenge with Great Rewards
Imagine you're a growing technology company manager struggling to find qualified remote talent. You've published in all the usual places, but the results are disappointing.
The competition for local talent is fierce, salaries are high, and the available candidates need to meet your expectations. But what if I told you there is an emerging market full of talented professionals eager to demonstrate their skills and available at a fraction of the cost?
We are talking about Venezuela, a country that, despite its economic challenges, is emerging as an inexhaustible source of remote IT talent.
The Source of IT Talent in Venezuela
- Education and Technical Training
Venezuela has a solid educational infrastructure in information technology. Universities such as the Central University of Venezuela (UCV), the University of the Andes (ULA), and the Simon Bolivar University (USB) are breeding grounds for highly skilled talent. These institutions offer advanced programs in systems engineering, computer science, and other related disciplines.
- Competitive Cost
According to recent data, the cost of hiring a developer in Venezuela is significantly lower compared to countries such as the United States, Canada, and the United Kingdom. A senior developer in Venezuela can have an average monthly salary of around $3,000, as opposed to $8,000 to $12,000 in the United States.
- English Skills and International Experience
Many Venezuelan IT professionals are fluent in English (according to EF classification). which facilitates communication and integration into international teams. In addition, their experience working with foreign clients and companies has given them a deep understanding of global needs and expectations.
Advantages of Hiring Remote Talent in Venezuela
- Adaptability and Flexibility
Venezuelan professionals are used to working in remote environments due to the country's economic and political conditions. This adaptability translates into greater flexibility and efficiency when integrating into globally distributed teams.
- Favorable Time Zone
Venezuela operates in a time zone that is very convenient for companies in North America and Europe. This proximity facilitates real-time collaboration, allowing for better coordination and communication.
- High Employee Retention
The labor market in Venezuela is competitive, but well-paying employment opportunities are limited. This results in high employee retention, as professionals value and commit to remote opportunities that offer stability and a good income.
Success Stories
- Startups and SMEs
Many startups and small and medium-sized businesses have found a talent gold mine in Venezuela. Companies such as Codeable and Arc.dev have hired entire teams of Venezuelan developers seeing a significant increase in productivity and a reduction in operating costs.
- Large Companies
Companies such as Mercado Libre and Despegar have taken advantage of Venezuelan talent to strengthen their development teams. These success stories demonstrate that it is possible to overcome challenges and benefit from the wealth of talent available in Venezuela.
Multinationals like IBM have also established remote teams in Venezuela, recognizing the great potential of Venezuelan remote talent and its operational efficiency.
Venezuelan Resilient Spirit
The Venezuelan spirit is known for its resilience, which has proven itself over the past five years:
- After the challenges of electricity and poor connectivity in 2017 and 2018, the country has moved towards a free economy, significantly increasing the presence of dollars in the market.
- This shift has improved the technological infrastructure of major cities, leading to the growth of fiber optic services (broadband Internet) at lower cost and, therefore, an increase in connectivity.
- Over the last 5 years, Venezuelan remote talent has become hyper-connected, and due to their expertise and resilience, they are once again highly sought after.
Interfell Survey Data
At Interfell, a company founded in Venezuela and expanded to the USA, Spain, and Colombia, we wanted to know the opinion of more than 5000 local talents about electricity service and connectivity in the country, and these were the results we got:
- 67% said to have interruptions to the internet service rarely, 20% said to have no interruptions and only 13% reported having somewhat more frequent interruptions.
- For 60% of those who had somewhat frequent interruptions, these lasted less than one hour.
- 80% of participants said they had fiber optic connections, 10 times more than those who had it 4 years ago.
- And, very importantly, 50% of surveyed have added additional equipment to improve their connectivity (UPS, satellite connections, etc.) or have more than one broadband provider.
The situation quickly reversed thanks to dollar restrictions lifting, competition, and the free market.
Practical Tips for Hiring in Venezuela
- Use Reliable Platforms: Platforms such as Interfell, Toptal, and Upwork allow you to access a broad base of Venezuelan talent with guarantees of quality and protection for both parties.
- Offer Competitive Benefits: Despite the low cost, it is important to offer benefits that make the offer attractive, such as performance bonuses and continuous training opportunities.
- Establish Effective Communication Channels: Use tools like Slack and Zoom to maintain constant and transparent communication with your remote team.
- Be Flexible and Supportive: Understand local constraints and work with your employees to overcome any logistical obstacles.
Final Thoughts.
Hiring remote talent in Venezuela is not only a smart strategy from an economic perspective but also a way to access a pool of passionate, talented professionals ready to contribute to your company's success.
By adopting this practice, companies can overcome geographical and cultural barriers and create diverse and highly effective teams.
Are you ready to discover the potential and connectivity of Venezuelan IT talent?
Don't miss this opportunity!
