Are you part of the logistics and transportation industry? Find out in this blog the main opportunities and trends awaiting the future for this market.

Logistics is known as the practice of coordinating and transporting resources, such as machinery, supplies, food, liquids, inventory, materials and people, from one place to the warehouse at the desired location. It involves managing the movement of goods from a point of origin to the point of consumption in order to meet customer demand. Managing the day-to-day operations involved in the production of the company’s finished goods and services is the main emphasis of logistics management.

Following are some statistics and data about the Latin American logistics market:

• The predicted value of the Latin American logistics market in 2027 is $784.6 billion, with a CAGR (compound annual growth rate) of 6.2% from 2020 to 2027.

• A 6% CAGR is anticipated for the container terminal operations market between 2023 and 2028.

• The 3PL logistics market in South America will generate sales of US$39.95 billion in 2023.

• Colombia: Cargo moved between Colombia and the US in 2022 will total 249.552 tons, an increase of 11.4% from 2021.

• Mexico: The country’s freight and logistics market is expected to rise by 10.5% between 2021 and 2026.

In order to facilitate the transportation of products and services around the world, the logistics sector is a crucial part of the global economy. When it comes to the future of the logistics industry, logistics businesses need to engage in the training of their personnel, automate payroll procedures, and seize new investment opportunities if they want to stay competitive. For the logistics sector to attract and keep employees, HR expertise and payroll solutions are essential. For businesses in the industry of logistics and transportation, long-term growth prospects can be provided by investment options in the logistics industry, such as technology and sustainable solutions.

Discover the future of transport and logistics industry. The Bureau of Labor Statistics estimates that by 2028, the transportation sector would need to replace 1.2 million positions, creating a severe talent shortage. Companies who invest in talented logistics recruiters, however, have a competitive advantage when it comes to luring and keeping talent. HR specialists may assist logistics organizations in streamlining recruitment procedures, identifying the skills required for particular roles, and creating employee development and training programs. Long-term returns on this investment are possible; businesses that do so report 218% more income per employee than those that do not. As a result, all the economic effort in the HR for this industry, provide profitability, and a consolidated group of experts in the future,

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Managing payroll in the logistics sector presents special difficulties due to a distributed workforce and compliance with various requirements. On the other hand, outsourcing payroll operations to knowledgeable providers can simplify payroll procedures, lower expenses, and increase accuracy. Payroll costs are actually reduced by 18% on average for businesses who outsource payroll. Furthermore, 57% of businesses now use a cloud-based payroll system, indicating a growing trend in the use of technology in payroll management.

What is the real future in terms of talent for transportation and logistics industry?. Trucking companies have unique payroll requirements, such as managing payroll for drivers who are paid by the mile and complying with federal rules. Partnering with payroll service providers who are aware of these particular requirements can have a big impact on accuracy, risk of fines for non-compliance, and driver satisfaction. Furthermore, businesses can cut administrative costs by up to 25% by outsourcing payrolls for trucking companies.

A growing number of investors are looking to the logistics sector as a result of new technology, environmental concerns, and shifting customer tastes. For instance, the rise of the global trade market and growing demand for e-commerce are predicted to propel the worldwide logistics market to $12.68 trillion by 2027. Additionally, investments in environmentally friendly logistics technologies like electric vehicles and renewable energy sources might offer long-term growth potential for sector organizations.

For logistics companies trying to expan their logistics team, South America is a very desirable region for logistics talent acquisition . In the region, the logistics industry is anticipated to expand by 5% yearly until 2022, according to a Deloitte analysis. In addition, the young and quickly expanding population of South America offers a sizeable talent pool for logistics firms. The workforce in the area is extremely diversified and bilingual, with a median age of 29. Finally, a lot of Latin American nations have made investments in building transportation infrastructure, which has enhanced logistics capacities in the region.

Investing in HR expertise, payroll solutions, and emerging logistics technologies can provide long-term growth prospects for logistics companies. Furthermore, Latin America’s growing logistics sector and diverse talent pool make it an attractive region for companies looking to expand their workforce. By prioritizing these investments and taking advantage of emerging opportunities, logistics companies can remain competitive in the global market.

Looking to take your logistics business to the next level? Our team of experts can help you save costs and acquire the best talent in the industry. Don’t wait – contact us today and let us help you achieve your goals.

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