Exploring New Avenues for Tech Talent Acquisition: 5 Emerging Destinations

Today's job market favors the workforce, with top-tier talent having the liberty to cherry-pick their desired workplaces. As your growing company navigates this landscape, it's crucial to acknowledge the evolving dynamics. A McKinsey report forecasts a substantial deficit of 16 million to 18 million college-educated workers in Europe and North America by 2020.

Talent scarcity is even more pronounced in the tech sector within the United States. The Bureau of Labor anticipates an astonishing gap of 1.4 million software development jobs over available applicants in 2020.

In such tight labor markets, innovation becomes pivotal in recruitment strategies, particularly concerning where you search for talent. To outpace your competition, venture beyond traditional recruiting territories and explore emerging, untapped talent markets that can give your team a competitive edge. Here are five promising destinations to scout for tech talent:

1. Toronto: Toronto's tech ecosystem is experiencing remarkable growth, with an impressive addition of 80,100 tech jobs in the past five years. In North American rankings for tech talent, Toronto ranks third, trailing only San Francisco and Seattle. Notably, Toronto boasts a highly educated and sizeable tech workforce. Remember to adapt to local communication norms and working expectations when hiring in Canada.
2. Uruguay: Uruguay is swiftly earning the moniker "Silicon Valley of South America" due to its robust focus on education and learning initiatives and a conducive business environment. The tech industry exports $1.5 billion in products and services annually, with 66 percent directed to the U.S., positioning Uruguay as South America's leading software exporter and the third globally. Government-backed free education initiatives and technology accessibility from a young age have fueled Uruguay's tech talent pool. It's essential to acquaint yourself with Uruguay's labor laws and compliance when considering candidates from this region.
3. Poland: As the ninth-largest European country with a population of 37.8 million, Poland has emerged as a thriving hub for tech talent and a prime destination for global tech companies. Boasting over 100 colleges and universities, Poland enrolls around 140,000 engineering students and holds fourth in Europe for higher education enrollment. Explore the hiring landscape in Poland and comprehend your responsibilities towards employees in this locale.
4. Ukraine: Ukraine's burgeoning workforce is desirable to numerous Fortune 500 companies, with giants like Samsung, Google, and Microsoft establishing R&D teams across Ukrainian cities. The IT industry is projected to reach $5.4 billion in 2020, partly owing to Ukraine's commitment to nurturing STEM capabilities among students. With approximately 185,000 IT specialists in its talent pool, Ukraine presents a compelling destination for tech talent. It's advisable to gain a comprehensive understanding of the Ukrainian hiring process.
5. Russia: As the ninth most populous country globally (and the largest by land area), Russia stands out as a prolific producer of exceptionally qualified tech talent. The country leads in generating software engineers, and its tech talent pool boasts an average age of 38. Navigating Russian labor laws can be intricate, so acquiring in-depth knowledge is advisable before extending offers.

As the tech talent landscape evolves, diversifying your talent search to embrace these emerging destinations can be instrumental in securing the skills your company needs to thrive.