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World Entrepreneurship Day: more than half of young people want to have their own business

Today is World Entrepreneurship Day and we echo the study, «The generational mix in Spanish companies«, carried out by Sodexo Benefits and Incentives. It concludes that more than half of the Spaniards of Generation Z (54.5%) consider it probable to set up their own company. This figure is very significant since it drops to 18.5% in Millennials, 12% in generation X and up to 10% in the case of Baby boomers.

The feeling is that young Spaniards are increasingly eager to start a business and are looking for jobs with characteristics that are currently They do not exist in the labor market. which leads them to turn to entrepreneurship to create their perfect position. Thus, according to data from the study, more than half of the Spaniards of Generation Z (54.5%) consider likely to start your own businessa very significant figure since it drops to 18.5% in Millennials, 12% in generation X and up to 10% in the case of Baby boomers.

Generation Z encompasses all those young people born after the year 1995 and who are characterized by leading a digital lifestyle and having very different priorities than previous generations. Thus, when entering the labor market, they also look for jobs and companies with different characteristics. In fact, according to data from this same study, Generation Z is the only generation whose most valued aspect in a job is personal and family reconciliation, while the rest of the generations continue to put remuneration first. The entry into the labor market of this generation has occurred in unstable economic circumstances, marked among other events by the pandemic, which has influenced their way of viewing the labor market.

In addition, these new generations are beginning to value aspects that were previously of less importance, such as the fact that the company they are joining is socially responsible with the environment. In fact, young people place this aspect in the top 3 of those most valued while the rest place it in a lower place.

Another significant difference between members of Generation Z when choosing a company is that it has a vision innovative, while for the rest of the generations it is an aspect of little importance: Baby boomers actually place it in the seventh position. An element that shows the new way of looking at and understanding things by Generation Z.

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Despite the differences, there are aspects of motivation in the company that are valued practically the same way by all generations, such as the importance of companies having physical and emotional well-being programs, as reflected in the aforementioned study. Many of these actions focused on boosting the emotional salary of employees and boosting their financial well-being are offered through social benefit programs or flexible remuneration such as those offered by Sodexo Benefits and Incentives and that allows employees maximize your savings and increase your purchasing power.

The entrepreneurial character of Generation Z shows their different way of understanding the workplace. A generation marked by a new vision of the professional scene, with different priorities and needs, which must be taken into account by the companies themselves, when preparing value proposals aimed at attracting this talent. Tools such as personal and professional reconciliation, growth and development within the company itself and the so-called emotional salary, are essential elements that are highly valued by this type of profile”. explained Miriam Martín, director of Marketing and Communication at Sodexo.

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