Increased competition between countries to attract technology professionals has grown in recent years. To make this measurement, since 1989 the IMD (International Institute for Management Development) in Switzerland has adopted a triple approach to measure the skilled workforce in 63 countries. In the last study, in 2022, Brazil rose three positions, from 60th to 57th place.
The IMD method measures resources devoted to cultivating in-house labor, assesses the extent to which an economy attracts foreigners and retains talent, and assesses the quality of skills and competencies available in a country’s talent pool. The 2022 data show Brazil ahead only of Mexico, Bulgaria, South Africa, Colombia, Mongolia and Venezuela, which is the last on the list.
Topping the list is Switzerland for the sixth consecutive year. Then Sweden, Iceland, Norway and Denmark are the top five countries. In South America, the so-called Global Talent Index placed Brazil behind Peru (46th), Chile (47th) and Argentina (56th).
For Matheus Lúcio, a specialist in software development, the scenario for supplying technology professionals in the Brazilian market is currently challenging. While the demand for technology professionals is increasing, there is a shortage of talent in the market to meet this demand. “Many 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 expand their investments in human capital. The research showed that the global shortage of specialized professionals is not something new for the market. The challenge is attracting talent, caused by increased competition from technology giants and platform companies, which worries respondents.
There are several reasons for this talent shortage, says Matheus Lucio. It 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 training 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 lack of career opportunities and low wages,” 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 an equal footing with other countries, but it needs to improve its talent training policies and encourage education in technology”, he points out.
Solutions for retaining professionals in Brazil
To meet the growing demand for technology professionals, it is important for Brazil to invest in policies that support the training 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 technology careers.
In addition, the government needs to implement tax policies that encourage the creation of technology companies and startups, which 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 equally with other countries around the world”, he adds.
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