Falling wages: companies bet on coupons to compensate

With the parallel dollar trading above 350 pesos (in a gap above 150% with the official dollar), the devaluation sets local wages among the lowest in the region. In Chile the average salary is 566 dollars, in Uruguay it is US$ 697, while in Argentina it hardly reaches 170 dollars.

And the minimum pension in Uruguay is 398 dollars, in Peru it is 262, but in Argentina it is only enough for 115 dollars at the parallel exchange rate. “The main problem here is that there is a great degradationmany people feel that there is no future and prefer to emigrate or not invest”, said the economist Leo Piccioli in an interview with “Reperfilar” (NetTv).

“Today companies have a great challenge that is retain the collaborator in an inflationary contextwhere salaries are often insufficient, and with new work modalities that require offering a bonus linked to emotional salary, which does not replace economic remuneration, but is a complement that companies must undoubtedly attend to today,” he explains. Luciana PsendaMarketing Manager at Cuponstar.

“What we observe from Cuponstar is that there are two aspects of benefits that are promoting companies. On the one hand, those Benefits that have historically been and will be well received by employees and that help them make ends meet and cover their expenses, such as discounts in supermarkets, gyms, outlets and restaurants, tourism, technology, clothing and entertainment. And on the other hand, we see an upward trend in offering benefits linked to emotional salary”, adds Psenda.

“We continually listen to our employees to understand what they need and based on this we define our value proposition and the benefits that are most aligned with the culture we seek to generate. We monitor market trends to adapt our compensation policy and that accompanies the current situation. And we have a robust emotional salary that does not replace economic remuneration, but it is a complement that people value a lot today, especially after these years of pandemic in which well-being and remote work took on a very great relevance, “he adds. Lucilla Canonicalmanager of Human Resources of Natura and Avon.

According to Couponstar, 6 out of 10 companies they say they want improve existing wellness programs and add new benefit alternatives, emphasizing benefits linked to well-being, such as nutrition, mindfulness or yoga courses and workshops related to nutritional aspects and physical activity, which, although they existed before the pandemic, have gained greater prominence with the need for work and family balance, and the tragically popular burnout.

“We seek to provide a comprehensive experience that takes into account personal needs and allows us to balance work with personal life. The hybrid work model, the reconversion of lunch support (from dining room to home-delivered food), the childcare subsidy and childcare (increase), and reimbursement for connectivity are some of the benefits most valued by employees today”, agrees Canónico from natura and Avon.

But other workers specifically prefer the Discount coupons that help them mitigate your expenses: Among the most requested categories, supermarkets stand out with 45%; gastronomy with 20%; clothing with 15%; and cinemas with 15%.

Different international surveys revealed that 60% of consumers who use digital coupons consider that the benefits are more important now than before the pandemic. In turn, 92% of shoppers in 2021 searched for coupons or deals before shopping online, and redemption of digital coupons is expected to exceed US$ 90 billion by 2022compared to 47 billion in 2017.

by RN

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