Finding and retaining the right people is more challenging than ever. Salaries are rising, turnover is costly, and many U.S. companies are struggling to compete for skilled professionals. A better approach to developing and retaining top talent is not necessarily hiring the most expensive candidates in your local market. Rather, it involves creating an environment where people want to grow with you and exploring smarter ways to build teams across borders.
Hiring remotely in Latin America has become one of the most practical solutions. You gain access to highly skilled professionals who share your time zone, deliver excellent work, and value long-term stability. At the same time, your company benefits from lower hiring costs, improved retention, and stronger cultural alignment.
What is the importance of retaining talent?
The real challenge of hiring top talent is retaining it. Retention isn't just about saving money on hiring costs, though that's an important aspect. Retention is also about creating stability, protecting knowledge within the company, and strengthening team culture. Employees who stay longer gain a deep understanding of processes, build trust with customers, and create momentum that fuels growth. Constant staff turnover, on the other hand, consumes time, increases expenses, and slows down projects. Therefore, finding a better way to develop and retain top talent is essential for long-term success, not optional.
This is even more important in remote environments. When a developer in Colombia or Argentina feels connected to your mission, for example, they are less likely to accept the next highest offer from a competitor. Instead, they will commit to building your vision with you. This loyalty fosters consistency in your projects, mitigates hiring risks, and enables your company to grow faster with a team that evolves alongside it.
Learn more about reducing hiring costs by hiring remote staff in Latin America.
Retaining and Developing Talent in the U.S. vs. Latin America
In the United States
For many companies, hiring and retaining talent in the U.S. is a major expense. Salaries are among the highest in the world, and turnover adds another layer of cost when employees move on after a short time. Beyond the paycheck, companies often spend heavily on benefits, office space, and recruiting fees.
- Average monthly salary for a software engineer: USD 11,000–12,300
- Replacement cost per employee: 30–200% of annual salary
- High competition makes retention harder, as professionals often change jobs every 18 months
Keeping talent in the U.S. can deliver strong results, but the financial burden and constant turnover make it difficult for startups and mid-size companies to grow sustainably.
In Latin America
Latin America has quickly become a strong alternative for U.S. companies looking for a better way to develop and retain top talent. Professionals in the region share similar time zones, making collaboration seamless. The cost of living is lower, which means salaries are more affordable while still being competitive locally. And because many roles are remote, companies save on office overhead as well.
- Average monthly salary for a software engineer: USD 3,000–4,500 (varies by country and seniority)
- Replacement cost is lower, and retention is stronger due to high value placed on career stability
- Time zones align with the U.S., enabling real-time teamwork without late-night or early-morning calls
- Lower living costs in LATAM allow companies to offer competitive salaries that feel generous locally, improving satisfaction and loyalty
For U.S. businesses, this translates into more affordable hiring, lower replacement costs, and stronger long-term retention. Building teams in Latin America is not just about saving money—it is about creating stability and efficiency while growing with talent that is motivated to stay.
Learn more about hiring Latin American developers. The Complete Guide.
5 Effective Ways to Retain Top Talent
Retaining talent is not about complicated strategies; it is about understanding what people value and giving them reasons to stay. Here are five methods that work across industries and are especially powerful when managing remote teams.
- Provide Clear Career Paths: Employees leave when they feel stuck. Showing them how they can grow into new roles or responsibilities keeps them motivated. For example, a mid-level engineer who knows they can become a team lead within two years is far more likely to stay engaged.
- Recognize and Celebrate Achievements: People want to feel seen and appreciated. A simple thank-you in a team meeting or celebrating milestones can build loyalty. Recognition makes employees feel their work matters, which strengthens their emotional connection to the company.
- Offer Flexibility and Trust: Remote professionals often value flexible schedules as much as salary. Allowing them to manage their time as long as goals are met shows trust. This autonomy reduces burnout and encourages long-term commitment.
Invest in Continuous Learning: When employees grow, the company grows. Providing access to training, certifications, or mentorship not only improves skills but also builds loyalty because people see the company investing in their future. - Align Work With Purpose: Retention is strongest when employees believe in the mission of the company. Sharing how their work contributes to bigger goals makes them feel part of something meaningful. Purpose-driven employees are less likely to leave for just a higher paycheck.
These five methods show that there is a better way to develop and retain top talent; it is not just about compensation but about building trust, growth, and purpose into every step of the employee experience.
Learn more about retaining talent: A Remote Work Guide for U.S. Companies.
Teilur Talent: A Better Way to Develop and Retain Top Talent
Retaining talent is not just about filling a position; it is about building relationships that last. At Teilur Talent we believe there is a better way to develop and retain top talent, and our approach is designed to help companies avoid the high costs of constant turnover while building teams that truly align with their vision.
Our retention rate is over 90%, and that is not by chance. We combine transparent pricing, English and technical testing, and a deep alignment process that goes beyond resumes. Before introducing any candidate to a client, we take the time to understand the company’s mission, values, and goals. Then we explain these to the candidates so only those who are genuinely motivated and connected to the opportunity move forward.
Our work does not stop once a hire is made. We maintain ongoing check-ins, especially during the first months, to gather feedback, detect red flags early, and provide solutions before issues escalate. For example, if a candidate feels disconnected from their manager or needs additional support, we step in quickly with practical advice, resources, or training. We also encourage professional growth, ensuring that salary increases and career development go directly to the candidate, reinforcing their motivation to stay.
Learn more about how Teilur Talent is disrupting the recruiting industry with transparent pricing.
FAQ
How to retain the best talent?
The best way to retain the best talent is to focus on creating an environment where people feel valued, supported, and connected to the company’s mission. A better way to develop and retain top talent is not just about salaries; it is about showing career growth opportunities, offering flexibility, recognizing contributions, and building trust so that employees see a future with your company.
What are the 5 R's of retention?
The 5 R’s of retention are respect, recognition, responsibility, reward, and relationship. When applied together, they form a better way to develop and retain top talent because employees want to feel respected as professionals, recognized for their work, trusted with responsibility, fairly rewarded for their efforts, and part of strong relationships that make them stay longer.
What are the 4 pillars of retention?
The 4 pillars of retention are culture, compensation, career development, and communication. These elements represent a better way to develop and retain top talent because a healthy culture keeps employees engaged, fair compensation shows their value, career development gives them a path forward, and open communication builds loyalty and trust within teams.
What is a key factor in retaining top talent?
A key factor in retaining top talent is alignment between personal goals and company goals. The better way to develop and retain top talent is to ensure employees understand how their work impacts the bigger picture; when they see how their contributions move the company forward while also supporting their own growth, they are much more likely to stay committed.
Conclusion
Retaining talent is not only about saving money but also about protecting knowledge and building stronger teams over time. When employees stay, they bring stability, collaboration becomes smoother, and projects move forward without the constant interruptions of turnover. This is why companies are realizing that there is a better way to develop and retain top talent; it is about valuing people as much as the work they do and creating conditions where they can thrive.
Choosing the right strategy, whether hiring locally or building teams in Latin America, can make the difference between a company that struggles with constant recruiting and one that grows steadily with loyal professionals. A better way to develop and retain top talent means investing in career paths, recognition, and alignment with company values; when employees feel motivated and supported, they choose to stay and build the future with you.
To help you make the best decision, use the calculator below to estimate your costs and potential savings. For more details and personalized advice, please contact us.
