GLOBAL TALENT REPORT
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Despite the growing emphasis on upskilling, traditional hiring remains a key component of technical talent management. However, this approach comes with significant challenges. More than 43% of organizations find the hiring process costly, time-consuming, and often ineffective in securing the right candidates, with 4% of organizations taking more than four months to fill open positions.The onboarding process is also notably lengthy, with new hires taking an average of 4.8 months to reach full productivity. Combined, the total time for hiring and onboarding extends to 10.2 months—a 34% increase from 2023. Additionally, the turnover rate for new technical hires remains a major concern, as two out of five employees leave within the first six months.The demand for experienced software engineers in the United States has surged dramatically in recent years. Simultaneously, there's an oversupply of junior-level developers. This imbalance is creating significant challenges for companies, with half of all CEOs ranking investment in technological capabilities as their top priority. 64% of development managers cite their greatest barrier to success as the inability to fill essential engineering roles.The pandemic brought unprecedented changes to the U.S. labor market, most notably seen in the soaring quits rate. In 2021, approximately 48 million Americans left their jobs, followed by another 51 million in 2022. Yet despite this mass exodus, total employment in the U.S. reached an all-time high post-pandemic, although many employers have struggled with hiring challenges.As of April 2023, there were still ten million vacant positions, and labor force participation, while slightly improved, remained 0.7 percentage points below its pre-pandemic level. This decline translates to roughly 1.9 million potential workers who are neither employed nor actively seeking employment, continuing a 20-year trend of decreasing participation.

GLOBAL TALENT REPORT
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Automation continues to be a driving force reshaping the labor market, with advancements in technology—particularly generative AI—accelerating these changes. The potential applications of generative AI are vast, spanning code writing, product design, marketing, operations, legal analysis, customer service, and scientific research. Estimates suggest that automation could account for 29% of the hours worked in the U.S. economy by 2030.Organizations plan to leverage the additional time freed up by generative AI for more innovative work, such as developing new software features (50%) and upskilling their teams (47%). Notably, reducing headcount is the least favored approach, with only 4% of organizations considering it. However, the rapid and largely unregulated adoption of generative AI introduces significant risks, including hallucinated code, code leakage, and intellectual property (IP) concerns.

GLOBAL TALENT REPORT
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While the pandemic shifted the way we work forever, the wars in Ukraine and Gaza have further disrupted the global development landscape, creating a rift that has accelerated the need for alternative outsourcing destinations. However, LATAM's workforce readiness is at an all-time high, with the region being primed to capture the opportunities created by these global shakeups. As companies around the world seek to navigate the challenges of this volatile environment, those that are agile and strategically positioned in LATAM are likely to realize substantial market gains and establish themselves as key players in the global economy. This strong educational foundation supports the rapid expansion of the tech ecosystem in Latin America, fueled by the emergence of tech hubs in major cities, government policies, and incentives that foster innovation and attract investment. Internet penetration in the region has surged from 43% to 78%, surpassing even China, with countries like Chile reaching an impressive 90%.The demand for experienced software engineers in the United States has surged dramatically in recent years. Simultaneously, there's an oversupply of junior-level developers. This imbalance is creating significant challenges for companies, with half of all CEOs ranking investment in technological capabilities as their top priority. 64% of development managers cite their greatest barrier to success as the inability to fill essential engineering roles.The pandemic brought unprecedented changes to the U.S. labor market, most notably seen in the soaring quits rate. In 2021, approximately 48 million Americans left their jobs, followed by another 51 million in 2022. Yet despite this mass exodus, total employment in the U.S. reached an all-time high post-pandemic, although many employers have struggled with hiring challenges.As of April 2023, there were still ten million vacant positions, and labor force participation, while slightly improved, remained 0.7 percentage points below its pre-pandemic level. This decline translates to roughly 1.9 million potential workers who are neither employed nor actively seeking employment, continuing a 20-year trend of decreasing participation.

3PL & LOGISTICS TRENDS
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The E-commerce Boom

& Its impact on Logistics

Valued at over $6.3 trillion in 2024 with a 7.8% CAGR, the global e-commerce market has transformed the logistics landscape. Today, over a third of the global population participates in online shopping, making it a vital area for businesses to leverage. This growth is largely driven by advancements in shopping platforms and increased internet and mobile penetration.
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Nearly half of all shoppers begin their purchases via search engines and buy products from across the globe. As younger generations achieve greater financial independence, these figures are only expected to rise.

Currently, 73% of consumers under the age of 35 shop through social media, as free and next-day delivery continously encourage 34% of shoppers to make online purchases at least once a week. However, all this growth is not distributed equally and is primarily concentrated in two regions.