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🌎 THE LATAM RECRUITER - February 2023 Issue

In this issue: Leadership strategies for managing teams in LatAm in 2023, AI's battle for supremacy, tools to upscale your team, and the second edition of our brand new section where we explore the future of tech.  

Leadership by the numbers - latest insights and trends for managing LatAm talent.

ZIPPIA has released a report highlighting the 36 most vital leadership statistics crucial for success in the current year. However, leaders should be aware that leadership styles vary considerably throughout the world.

What type of leader is considered effective for Latin Americans? Leaders must stay informed of the latest leadership trends to be effective in this region. Therefore, it's essential to understand the following statistics and trends from the ZIPPIA, Globe Report, and BALAS (Business Association of Latin American Studies) analysis:

• Studies show that teams with connected employees enjoy a 20-25% increase in productivity.

  • Similarly to other societies included in the GLOBE study, exceptional leaders for Latin Americans possess traits of team integration. Leaders who excel in team integration exhibit qualities such as building a team, coordinating, communicating, and informing followers.

• For Latinxs, being an autonomous leader is not well received.

  • The GLOBE study found that participative and social behaviors are highly regarded by Latin Americans, besides charismatic and team-oriented leadership styles. Leaders here must delegate tasks equitably and avoid micromanagement. It's crucial for these leaders to foster a sense of inclusion among their groups and to take their opinions into account in decision-making.

• 69% of employees claim that they will work harder if their leaders better recognize their efforts.

  • Leaders who make unilateral decisions and do not involve their followers are generally not well-regarded, with an average score of 3.49 out of 7 on a point scale in Latin America.

  • Including offshore teams in headquarters decisions enhance communication, provides local market insight, and boosts employee morale.

• Organizations that foster employee engagement tend to be 22% more profitable.

  • This statistic underscores the importance for all leaders to prioritize employee engagement and take action to identify strategies for increasing worker productivity.

• 79% of employees quit due to a lack of appreciation.

  • The GLOBE study found that being self-centered and distant is one of the four attributes impeding effective leadership for LatAm teams.

  • Leaders & HR Managers need to know the cultural communication differences between Latin America & international companies. Latin America's communication is more upbeat & open, while the U.S. is more straightforward, which could cause friction.

• Less than 48% of employees view their company’s leadership as “high quality.”

  • Most Latinxs favor leaders who demonstrate determination and decisiveness. However, in Colombia, some consider this trait to inhibit exceptional leadership. Overall, decisive and determined leaders are generally preferred.

• Around 60-80% percent of employees report that stress hinders their ability to perform their job effectively.

  • A high-stress workplace can severely impact employees. For Latinxs, work-life balance is critical, and leaders must prioritize it. They can do so by implementing flexible work, promoting time off, and creating a balanced culture. Cultural awareness is key to ensuring employee well-being.

With the growing interaction between Latin America and other regions, there is a growing need for managers who possess a deep understanding of the Latin American cultural context and can effectively operate within it.

📌 Future of work gems.

Tools to boost your remote team!

• 💬 Booltool: A web solution that makes content creation easy by converting resources into stunning content with a simple process. Say goodbye to tedious editing on multiple platforms.

• ✍️ Hypotenuse AI: Generates copywriting and visuals quickly with just a click. Produces factual blog articles, product descriptions, marketing copy, and images by entering a few keywords.

• ✉️ Rasa.io: Craft emails that will not be disregarded. Design, automate, and send personalized emails that engage and captivate.

💡Key Industry Insights.

• 🔍 The AI industry is facing a significant battle for supremacy. Google recently unveiled Bard to compete against ChatGPT, the text-generator AI system created by OpenAI that has gained widespread attention. This announcement came shortly after OpenAI launched its ChatGPT Professional Plan, a paid version of its AI tool that requires an annual subscription fee of $504. The goal is to offer faster response times and improved reliability during high-traffic periods to businesses and companies in exchange for their subscription.

• 💬 Twitter has increased its character limit for paid subscribers from 280 to 4,000 characters. This change could cause a mix of longer tweets and traditional threads, leading to confusion for users. Twitter Blue subscribers will also have a reduction in ads by 50%. Twitter Blue offers the ability to post 60-minute videos, which can attract bloggers and video creators, but at a higher cost than other subscription services like YouTube Premium, Spotify, and Apple Music.

Stay in contact!

I hope you enjoyed this edition of the LatAm Recruiter! If you'd like to discuss hiring in LatAm, or get advice about the LatAm market, reach out via LinkedIn or email me at [email protected]. I'd be happy to help!

- Gino Ferrand, CEO and Founder at TECLA.