The workforce solutions landscape in Latin America is just as expansive as in other parts of the world, but there are some important differences. With an estimated $11.0 billion in market size in 2022, the region boasts six of the largest staffing markets of any global region – Brazil, Argentina, Colombia, Chile, Mexico, and Peru. Though the region accounts for less than 2% of the global staffing revenue, each of these countries offers unique opportunities for expansion.
From 2017 to 2018, Brazil benefited from a change in staffing and labor outsourcing law, though companies were hesitant to operate until the laws were clarified in late 2019. Meanwhile, Argentina has struggled with extreme inflation and economic uncertainty, which has caused companies to freeze hiring. Colombia and Chile have relatively mature staffing markets and stable political landscapes, while Mexico had implemented a ban on most types of temporary assignments in 2021. And, Peru boasts a small, yet stable staffing market with bans on temporary work, except for in specialized circumstances.
Though regulations vary significantly throughout the region, some common themes include requiring companies offering temporary services to register with government authorities, and restricting temporary contracts to short lists of circumstances, with limited durations that can’t be easily renewed.
Due to the region’s richness in resources
