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Generation Z has been hardest hit professionally by the economic impact of the COVID-19 pandemic according to a study by the ADPRI research Institute, People at Work 2021: A Global Workforce View .
More than 78 per cent of the 18- to 24-year-old cohort say their professional lives have been affected.
ADP’s survey of more than 32,000 adult workers across 17 countries also found two in five (39 per cent) had lost jobs, were furloughed, or suffered a temporary layoff from their employer. Whereas 28 per cent of workers of all ages said the same.
In India, 89 per cent of Generation Z mentioned that they had to choose between work and well-being or family. They attributed working from home to blurring the boundaries of definitive working hours.
Static compensation
As the pandemic pushed employers to explore and adapt news ways to stay in the business; Grant Thornton Bharat’s GPS team carried out a survey to gain insights on the challenges being faced and areas for realigning employee engagements. A key finding was that although employers introduced home-office set up allowances, reimbursements towards phones and broadband; 70 per cent of the employers have not made any changes in the compensation structure post-pandemic. About 47 per cent of the respondents said that impact of change in definition of wages on employee cost has not yet been evaluated.
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