Countries compete for the attention of technology professionals
An expert comments on the current scenario in the technology sector in Brazil and explains the reasons for the competition between nations.
Competition between countries to attract technology professionals has been growing in recent years. To measure this, since 1989, the International Institute for Management Development (IMD) in Switzerland has adopted a triple approach to measuring skilled labor in 63 countries. In the latest study in 2022, Brazil rose three positions, from 60th to 57th place.
The IMD method measures resources dedicated to cultivating domestic skilled labor, evaluates to what extent an economy attracts and retains foreign talent, and assesses the quality of the skills and competencies available in a country’s talent pool. The 2022 data shows Brazil only ahead of Mexico, Bulgaria, South Africa, Colombia, Mongolia, and Venezuela, which is last on the list.
Switzerland leads the list for the sixth consecutive year, followed by Sweden, Iceland, Norway, and Denmark as the top five countries. In South America, the Global Talent Index ranked Brazil behind Peru (46th), Chile (47th), and Argentina (56th).
According to Matheus Lúcio, a software development specialist, the current scenario for offering technology professionals in the Brazilian market is challenging. Although the demand for technology professionals is increasing, there is a shortage of talent in the market to meet this demand. “Several companies are struggling to fill their vacancies in areas such as software development, data analysis, and cybersecurity,” he reports.
Competition for qualified professionals
A study released by KPMG in 2022 showed that 88% of 152 executives from various countries plan to increase their investments in human capital. The research showed that the global shortage of skilled professionals is not something new to the market. The challenge is attracting talent, caused by increased competition from technology giants and platform companies, which worries the interviewees.
There are several reasons for this talent shortage, says Matheus Lucio. He includes the lack of investment in computer science and technology education and the lack of incentives for young students to choose careers in technology, as well as the need for talent development programs and policies that support career development. “Brazil has a large number of technology talents, but many of them have emigrated to other countries due to a lack of career opportunities and low salaries,” he says.
The expert says that countries like the United States, Canada, and the United Kingdom are offering tax incentives and visa programs to attract technology talent from around the world. “Brazil has enormous potential in technology and can compete on equal terms with other countries, but it needs to improve its talent development policies and encourage education in technology,” he points out.
Solutions to retain professionals in Brazil
To meet the growing demand for technology professionals, it is important that Brazil invests in policies that support the development of technology talent and create a favorable environment for innovation, comments Matheus Lucio. He says the country needs to increase access to technology education and provide incentives for students to choose careers in technology.
In addition, the government needs to implement fiscal policies that encourage the creation of technology companies and startups that can generate new jobs and help attract talent to the country. “I believe that with these policies, Brazil can become an important technology hub in Latin America and compete on equal terms with other countries around the world,” he concludes.
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