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It is estimated that the millennials y centennials They will make up 75 percent of the global workforce.
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Los centennials They represented 32 percent of the world population in 2019 alone.
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In Mexico, Generation Z represents 36 percent of the census, according to INEGI.
The practices that in the past were considered normal in the labor sector, today for the new generations are not. This can be seen reflected in the demands that Millennials and Gen z seek to receive from their workplaces, which many describe as intangible experiences in their benefits.
In most companies in the world, there is a generation gap of more than 40 years. Reason why working conditions are adapted to the old generations and not to the new ones.
This reality is transferred to Mexico, where according to figures from the population census of the National Institute of Statistics and Geography (Inegi) of 2020, the age of people to work (Economically Active Population, EAP) ranges from 15 to 64 years.
The same data highlights that millennials (between 25 and 39 years old) represent 22.6 percent of the entire population; centennials (ages 15-24) are 16.9 percent. Both generations occupy 39.5 percent of the Mexican population. On the other hand, the youngest of the centennials or Generation Z (between 10 and 14 years old) represent 8.7 percent, and they will join the workforce over the next five years.
These data represent a challenge for human resources departments, since they have had to adapt the various protocols to guarantee care and meet the expectations of this majority group of workers.
Young talent seeks experiences
The changes that came with the Covid-19 pandemic, in the world of work, continue to be applied in many sectors and companies. It is estimated that the majority of people who are part of the workforce seek to maintain a balance between their daily lives and opportunities for growth at work while reducing levels of stress or burnout.
But new data shared by Up Sí Vale, a financial resources control and management solutions company, indicates that the new generations of employees, growing up in a digitized and globalized environment, want to experience their working lives through experiences according to this, so who prefer to work in companies that offer them.
In this sense, the human talent company highlights the importance for current companies to grant experiences through benefits related to the lifestyle of employees, since they help comprehensive development, greater recruitment and retention of talent.
Company data indicates that eight out of 10 of its cardholders consider benefits as a determining factor for not looking for another job.
“Currently, many companies already grant legal benefits and complementary to their salary, such as major expense insurance, grocery or fuel vouchers. However, the current trend in the business field is focused on granting these intangible experiences that generate a positive impact on the daily life of employees, regardless of which model they are working under, be it face-to-face, hybrid or remote.” explained Pablo Menchaca, Director of People at Up Sí Vale.
The evolution of this entire package of benefits can be seen in current studies, where they highlight how the future trend will be to provide work experiences that integrate elements present in day-to-day life with economic incentives and that these generate positive experiences that can be shared.
“A clear example is the people who are still in the home office and receive financial support to pay for electricity or Internet services, and at some point have shared their work space or their pets on their social networks that became their new colleagues” the company adds.
Finally, given this employment scenario, companies must reinforce their commitment to establish benefits that not only result in financial support, but also include and ensure that they are accompanied by a good experience that helps them improve their quality of life.
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