According to Manpower Group this year, 1 out of 5 companies in the world faces problems finding talent and 5 million jobs may soon be replaced by machines, these figures are the highest in the last two decades.
The Covid-19 Pandemic has turned the world upside down since 2020, which has led Human Resources departments to significantly rethink many of the working conditions for their most important resource.
Just as employers’ expectations have changed, so have employees’ concerns. According to a study published by Metlife in 2021, the main topics that were on people’s minds were caring for their loved ones, physical health, staying safe and secure, the vaccine for Covid-19 and their finances.
Certainly physical and mental health have been affected and the main concerns are related to these issues, however, another of the outstanding points for the workers has been the economic capacity to face the situation. The pandemic initially led to 69% of households reducing their income, including 35% losing half or more of their family income. (UNAM Gazette, June 2022).
The interests of consumers in terms of financial health have shown a reality that was previously overlooked, many Mexicans are not prepared for the unexpected. The statistics of this study (Metlife 2021), indicate that 43% of the population was thinking of increasing their savings for that same year, 32% an increase in their retirement savings and 27% an increase in their insurance costs. . In the same way, 37% of the population were willing to reduce their debts and loans to improve the family economy.
Faced with this reality, companies have found it necessary to modify their strategies. The shortage of talent and the unemployment rates mentioned can drastically decrease in the face of innovative strategies that allow satisfying the needs of both parties. Tania Barreras Covarrubias, Human Capital Manager at Interceramic, reveals that one of the company’s secrets for reducing staff turnover has been precisely to provide its employees with support in these concerns, making tools available to them that allow them to protect their health, to his family and his estate.
Within the benefits strategy offered by this company, as well as many others, there are elements such as life insurance that provide economic protection to employees so that their families continue with their standard of living in the event that they are absent, as well as such as guaranteeing savings for retirement and other personal projects “they feel supported and it is very difficult for them to think about moving to another place,” says Barreras Covarrubias.
In addition, companies can choose to offer other more comprehensive benefits such as life insurance with savings for their employees, also contributing to the financial education of society, which, given current needs, must generate new routes to improve the environment of the companies. personal finance. More than half of the population plans their expenses only a month in advance, states Metlife in its study.
PIMSA Seguros y Fianzas Agent is a company with more than 27 years of experience in risk management and claims attention. Its benefit programs have allowed companies to improve the relationship with their employees by offering innovative human capital tools.
Wendy Ruiz Polanco, Manager of Benefits of PIMSA Agent of Insurance and Bonds, affirms that the presence of benefit tools such as life insurance and savings give the working population access to different instruments to improve their economic situation, granting them peace of mind and security in cases of death, disability, unemployment or retirement.
He also comments that, in the case of companies, the advantages of offering these benefits are not only limited to increased productivity, attraction and retention of talent and decrease in staff turnover, as part of their emotional salary, but it is also seen reflected even in a economic relief in compliance with tax obligations.
The financial issue has affected both companies and individuals in the face of the COVID-19 variable, but it should not be a headache; Actions focused on strengthening the financial health of the working population are today part of the short-term strategic planning of companies.
It is time to put aside the complexity of managing employee benefits, says Wendy Ruiz, which is why PIMSA offers a digital platform for managing insurance programs where human capital managers can access the information from your collaborators with a single click, in addition to having a certified claims team at your disposal that will accompany the insured in complex moments, freeing up operating burdens on the company’s Human Resources team to achieve better performance.
If you want to know more about these benefit plans, you can visit the PIMSA Seguros y Bonds Agent page or request personalized advice with one of its certified executives here.
Fuentes:
https://www.gaceta.unam.mx/el-47-de-los-hogares-todavia-recibe-menos-ingresos-que-antes-de-la-pandemia/
https://cuadrante.com.mx/wp-content/uploads/2021/08/Presentacion_Estudio-de-MetLife-sobre-el-comportamiento-del-consumidor_2021_260521.pdf
https://www.manpowergroup.com.mx/wps/wcm/connect/manpowergroup/83e4ef3a-8aae-4be8-89f8-358886d45be2/Encuesta+de+Expectativas+de+Empleo+ManpowerGroup+3Q22.pdf?MOD=AJPERES&CONVERT_TO=url&CACHEID=ROOTWORKSPACE.Z18_2802IK01OORA70QUFIPQ192H31-83e4ef3a-8aae-4be8-89f8-358886d45be2-o5tOrCA
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