Brazil is the seventh largest economy in the world and is the largest country in South America. Brazil’s population exceeds 190 million people. The workforce represents 54% of the country’s population (101 million). 81% of the population lives in urban areas and the literacy rate of the adult population is 90.3%.
Brazil is one of the countries least impacted by the global recession in 2008. In comparison to other countries around the world, the jobs market in Brazil is booming. The employment market in Brazil is such that candidates have more leverage than employers because of lower number of skilled workers in proportion to the high demand for skilled workers.
Employee loyalty has presented a huge challenge to Brazilian employers, which represents an equally huge opportunity to loyalty programs providers. The need for companies to come up with unique and innovative ways to increase employee loyalty and improve retention rates bodes to the very benefits included in employee loyalty programs.
In 2011, The Robert Half Agency, one of the world’s largest staffing agencies with more than 400 locations worldwide, released a report that looked at the challenges that employers are facing as it relates to finding and retaining skilled labor, worldwide.
In Brazil, the study revealed that 98% of managers are confident in their company’s growth prospects for the coming year. In fact, Brazil was ranked as the most optimistic of the 20 countries surveyed with respect to opportunity.
24% of companies revealed that the greatest challenge that they face today is difficulty finding skilled candidates. Overall, skilled workers reported the highest level of confidence in their company’s growth opportunity and their personal job security. 76% of managers are concerned about losing top performers.
38% of employees said they would switch jobs if they got a competitive offer.
These statistics are very compelling. Some countries were hit hard by the recession and now have a need to leverage employee loyalty programs to motivate staff, increase morale and performance. It is clear, however, that Brazilian companies have a far different need; to leverage employee loyalty programs to increase retention and employee loyalty. With this in mind, loyalty programs providers must bring the most cutting edge and fulsome programs to the table, if their clients are going to be successful at engaging their employees.
Brazil is rich in culture and Brazilian people love street festivals, music, dancing, playing sports (soccer) and enjoy time with their families. Two-thirds of the population is under the age of 29 years and Brazil is abundant with young families. In Brazil, loving and enjoying “the life” is more important to people than having “things”. Employee loyalty programs offering Brazilians recognition through rewards that can be redeemed for travel and entertainment are the types of programs that Brazilians truly appreciate. Because Portuguese is the national language spoken in Brazil it is crucial that the loyalty rewards programs are available in Portuguese.
Rewards that can be redeemed online will be another important feature that a loyalty programs provider must be able to offer if he or she plans to offer their services in Brazil. Brazilians are amongst the most tech savvy people in Latin America and 35 million households in Brazil have a computer and internet access in their homes. Loyalty programs should consider a white labelled Software as a Service solution to deliver their rewards programs. The rewards, catalogues and rewards redemption should be available online and offer wide range of rewards that will be of value to the demographic in Brazil.
Loyalty programs providers who offer a world class solution for employee rewards should definitely look to Brazil as a fantastic opportunity and a market worth pursuing.
If you are an Employee Recognition, Incentive or Loyalty program provider who is interested in entering the market in Brazil with the world’s leading “white labelled” Software as a Service (SaaS) based system delivering global rewards, please contact Rob Purdy at 905-477-3971 at Global Rewards Solutions or visit www.globalrewardsolutions.com.