Uneven Formal Employment in 2022, Expected to Slow in 2023

Across the country the generation of formal employment was uneven, with Mexico City closing 2022 with less formal employment than in 2020 and Nuevo Leon closing with more. Meanwhile Audi union workers agree to the company’s latest counter offer, successfully deterring a strike. 

Industry leaders consider the impact of salary-on-demand, flexibility and retention mechanisms as companies look ahead to volatile market conditions. 

This week in Talent news and developments:

Mexico

Generation of Formal Employment Fell in December 2022

Mexico closed December with 752,748 more formal jobs, putting the country some 447 hundred thousand employment opportunities short of the necessary amount to meet its goal of creating 1.2 million new jobs in 2022, according to the Mexican Institute for Social Security (IMSS). 

Nuevo Leon Women Reap the Benefits of Innovation Driven Agenda

Second only to Mexico City, Nuevo Leon registers the greatest number of women earning the highest salary bracket permitted under the Mexican Social Security Institute (IMSS), according to a report by COPARMEX. This outcome comes as a result of a competitive outsourcing market fueled by demand by Silicon Valley companies in the US.

Audi Workers Forestall Strike; Agree to 9.4 Percent Pay Rise

Audi Mexico and worker representatives have averted a strike after agreeing to 9.4 percent salary raises for 2023, the highest wage hike in the history of the Mexican automotive industry. This prevented the outbreak of a strike scheduled for this Wednesday, Jan. 11 at the plant located in San Jose Chiapa, Puebla, where over 5,600 workers collaborate,” reads the government’s press release.

Executive Perspectives 

The End of PayDay and Shifting Compensation Expectations

Dey extends companies the capacity to offer their collaborators a competitive compensation package in line with evolving labor expectations and personal interests at no risk to themselves, potentially augmenting loyalty, financial well-being and productivity, says Founder and CEO, Olive Bahini. 

‘Flex’ Is the Keyword for Success in the 2023 Labor Market

Why should we keep the word “flexible” or “flex” in our mind in 2023 when we talk about the IT world of work? From flex work models for employees to flex models for IT projects, it's a concept we need to know and understand, according to Joao Nunes, Managing Director , PageGroup LATAM. 

Retaining Top Talent Should Be the Priority in Times of Crisis

Definitely, these are difficult times, but company executives must be aware that the only way to maintain and grow in the future is by retaining the people who make their companies work, which is not an easy task, but it can be done by following the right processes, says Kostik CEO and Founder.