A new report by a global compliance and payroll solution, Deel has revealed that the growth rate of hiring across Africa has increased tremendously.
The report focused on tech and remote work, said that the number of companies hiring in the region has now risen to more than 800 percent year-on-year, YoY, which is more than double the hiring rate for countries outside the continent.
Also, the number of contracts for the job title “software engineer” in Africa grew almost five times YoY.
Citing instances of the growth rate of hiring in other parts of the world, the company founded in 2019 by Alex Bouaziz and Shuo Wang, showed that the growth rate of hiring across Latin America for positions like software engineer and account executive increased by 286 percent in the second half of 2021.
Breaking the report down, it says, “in the Asia Pacific continent, the growth rate of hiring stood 227 per cent between July 2021 and December 2021 while the growth rate in the North America region stood at 208 per cent.”
It noted that most of the new hires were located in Argentina, Brazil and Mexico, but competitive wages are also making companies take a closer look at Peru, Colombia and the Dominican Republic.
The three-year-old company said that it now has enough data from over 100,000 worker contracts to start looking at trends in global hiring, adding that it is particularly fascinated about Africa and the tech hiring boom going on in the region.
The report pointed out that in the past six months, the number of contractors using Deel in Africa has doubled.
It said: “Almost 10 percent of payroll withdrawals from contracts in Africa are in cryptocurrency while top countries in Africa where hiring is growing include Nigeria, South Africa, and Kenya. The company’s technology offers unmatched payroll, HR, compliance, perks, benefits, and other capabilities needed to hire and manage a global team.
“Using a tech-enabled self-service process, Deel’s customers can hire independent contractors and full-time employees in over 150 countries, compliantly and in minutes.
“With more than 250 legal, accounting, mobility, and tax experts as partners, Deel enables any business to create, sign and send compliant localized contracts from a library of templates and pay teams in more than 120 currencies with just a click.”
