In this week’s podcast episode, Derek once again speaks with Jaime Nacach, the CEO and founder of Virtual Latinos.
They catch up on how Virtual Latinos has been doing in the past year, the continued rise of Latin America’s outsourcing industry, and how their firm has adapted to set itself apart.
An update on Virtual Latinos
Jaime brings us up to speed on Virtual Latinos. True to its name, the BPO specifically hires virtual assistants and professionals from Latin America to cater to its North American market.
“The last 12 months have been, generally speaking, good. We’ve definitely continued to grow positively, which has been really great and exciting for us.
I’m happy to report that in the last three years, our growth was pretty big, and we were able to make it into the Inc. 5000 list, which lists the top 5000 private American companies,” Jaime proudly shared, also noting their position at the 80th spot with growth of 6000%.
He elaborates a bit more on what Virtual Latinos does. The firm specializes in 36 roles primarily focused on marketing, sales, finance, and general admin work.
Virtual Latinos lists talent mostly from Colombia, Mexico, and Honduras. Additionally, Jaime observes that “the talent in Venezuela is amazing.”
Competition in the LatAm market
Jaime comments on their shift towards Colombian talent.
“Colombia just continues to be a place [where] there’s a lot of activity happening. [I’m] also part of entrepreneur groups [and] I see a lot of digital nomads [and] competitors now focusing on Colombia.”
Jaime agrees that “the cat’s out of the bag” when it comes to offshore staffing.
“We do have a whole big list of competitors. Even within Latin America we’ve seen a lot of companies focusing and exclusively offering virtual professionals and assistants.”
However, he notes that they haven’t lost many clients due to the market being so big.
“Everybody’s attracting slightly different people, and everybody’s hopefully getting business.”
Opportunities through the English language
Jaime says that, “[There’s] an amazing opportunity of just picking talent from around the world, wherever the best talent is, to be able to make a difference.”
Because they mostly cater to the US, Virtual Latinos requires that all its agents be able to speak English. Jaime specifies that they only accept those with a C1 level of English.
Despite the BPO being based in Latin America, most of Virtual Latinos’s clients prefer to be served in English.
“Less than five percent of our clients [come] to us because they want their people to speak Spanish.”
Jaime recalls having doubts when beginning his marketing agency due to the lack of English speakers he would be able to recruit.
“But of course, that’s changing more, and more people are learning English. And that’s gonna change for sure for the next couple of decades.”
“That’s a big catch-up that Latin America has to do against the Philippines and other countries where English is a lot more spoken.”
Jaime goes on about English skills being a priority for better service.
“We want quality of the relationship, quality of the candidates, and also now quality of the clients. We want to build strong and long-term relationships between our clients and our professionals, and that’s what we’re striving for now.”
Virtual Latinos Academy
Jaime insists that human workers will continue to be at the center of their operations.
“Yes we have a business, we all need to make money, and we’re using a lot of tools and automations and systems and technology. But at the very heart of what we’re doing [is] connecting humans to other humans.”
Of course, they haven’t totally ignored technological advancements, and to address this, they’ve established the Virtual Latinos Academy.
“It’s a learning platform that is only available [to those] we’ve pre-vetted in our community. [They] can take courses that we believe are going to be valuable to them.”
“We believe that focusing on our community’s skills and helping them grow is going to be a big part of our future success.”
Jaime sees this move as a step in their greater mission of improving everybody’s lives and making a difference in the world through outsourcing.
For more information about Virtual Latinos, you can visit their website at https://www.virtuallatinos.com/.
Feel free to reach out to Jaime Nacach at his LinkedIn.