You might be thinking about expanding your business into new markets. Latin America in general, and the Southern Cone in particular, offers a wide range of investment opportunities that other investors may be overlooking. Take the country of Paraguay, for example. It’s an emerging economy with a young, tech-savvy work force. With this in mind, it could be a desirable destination for foreign companies and investors. The time may be right to take advantage of a yet-untapped market, and the wide array of hiring and recruitment outsourcing in Paraguay.
Other attractive aspects of the country: Paraguay has an open economy with a low corporate tax rate – the lowest in Latin America, in fact – at 10 percent. It has also reformed its immigration system, so that the time it takes for foreigners to obtain residency has been reduced. Its geographical location is also a huge plus, being close to the burgeoning economies of Brazil and Chile. It’s no wonder that many foreign investors and companies are interested in starting a business in Paraguay.
What is hiring and recruitment outsourcing in Paraguay?
In short, hiring and recruitment outsourcing is when a company transfers all or part of its recruitment needs to a third-party recruiter.
When you’ve decided this South American country is the place to expand your business, you’ll quickly come to realize that you will need local talent to handle sales, marketing, accounting and payroll, regulatory compliance, law, and human resources tasks. You’ll also realize that you are in a new and unfamiliar territory, and you likely don’t know how best to go about hiring in Paraguay. You could find yourself even more lost if you don’t speak Spanish.
With this in mind, it’s prudent to seek out the services of an individual or business that specializes in hiring the best talent on behalf of their client firms. Recruitment outsourcing in Paraguay all but guarantees you will be put face-to-face with the top talent – people you would not have found otherwise.
What are the benefits of hiring and recruitment outsourcing in Paraguay?
You already know how outsourcing will help you avoid directly running into cultural and language barriers when filling job positions for your new company, but it’s not the only benefit of contracting the services of a third-party recruiter. What follows are the five advantages to hiring and recruitment outsourcing in Paraguay.
1. Reduced cost – The main benefit of hiring and recruitment outsourcing is its cost-effectiveness. When hiring in-house, it is common to see your overall recruiting costs skyrocket due to small payments accumulating, like advertising. If you outsource, you’ll only have to pay your partner.
2. Time savings – Hiring can be a tough process. Finding the right candidate for every role is not easy, especially if you don’t know the ins and outs of the country you’re in. According to this study from Deloitte, it takes an average of 94 days to hire highly-educated professionals such as scientists, engineers, and researchers. A specialized outsourcing company that is familiar with best practices in the country can greatly reduce the time spent looking for qualified candidates, as they’ll already know what to do and where to look.
3. Scalability – After setting up shop in a new country, you might need to scale up and down on the hiring activities if business needs change. Your recruitment needs will vary over time, especially when your company is growing. Hiring and recruitment outsourcing in Paraguay is an ideal solution to adapt to any fluctuations in the business.
4. Reduced commitment – Recruitment outsourcing can also bring you the inherent benefit of not having to devote all your energies to the hiring process. That’s the recruiter’s job, so you can continue to focus on developing your core business.
5. Compliance with hiring regulations – Paraguayan laws are likely very different from those in your home country. One of your priorities should always be compliance with different labor and recruitment laws, as failure to comply in one country or another may result in penalties or fines. Hiring and recruitment outsourcing in Paraguay eliminates this burden, as they will likely have extensive cross-jurisdiction knowledge so as to mitigate any labor-related risks.
Biz Latin Hub can help you with hiring
At Biz Latin Hub, we provide integrated market entry and back-office services throughout Latin America and the Caribbean, with offices in Asunción, as well as over a dozen other major cities in the region. We also have trusted partners in many other markets.
Our unrivaled reach means we are ideally placed to support multi-jurisdiction market entries and cross-border operations.
As well as knowledge about hiring and recruitment outsourcing in Paraguay, our portfolio of services includes hiring & PEO accounting & taxation, company formation, bank account opening, and corporate legal services.
Contact us today to find out more about how we can assist you in finding top talent or otherwise do business in Latin America and the Caribbean.
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