Younger gen managers are 3X more likely than older generations to prioritize future workforce planning
By 2028, study shows 73 percent of all departments will have remote workers
MOUNTAIN VIEW, Calif. - March 5, 2019 -Upwork (UPWK), the largest freelancing website, today released the results of its third annual Future Workforce Report, which explores hiring behaviors of over 1,000 hiring managers based in the U.S. This year, for the first time, results were examined by generational impacts on the workforce, delving specifically into how younger generations are shaping the future of work.
The study found that 48 percent of younger generation managers (composed of Millennials primarily, with early Gen Z managers included as well) are director-level or higher already, showing they have major influence on workforce planning. This influence will only grow with these younger generations making up 58 percent of the workforce by 2028, an increase of 38 percent from today.In today’s always-on workplace, 84 percent of Millennials have reported experiencing burnout at their job.
Traditional methods of hiring are no longer providing sufficient relief. In fact, more than two times (42 percent) as many younger gen hiring managers felt hiring had become more difficult than the 18 percent who felt it had gotten easier in the past year. Now in a position of authority and facing this pain, younger generations see the need to rethink how work is done and are taking action.
“As younger generations ascend in the workforce and become the majority of managers in corporate America they’ll reshape work as we know it," said Stephane Kasriel, CEO of Upwork.
"We know already that the most in-demand professionals place high value on flexibility. For example, the youngest generations are most likely to freelance. And professionals craving flexibility will increasingly have managers who not only understand this priority but will themselves expect it. We see this clear trend towards more flexible, remote work on the hiring side already based on this year’s Future Workforce Report.”
How Younger Gen Managers Are Shaping the Future of Work
They support remote teams as the new norm
They see the need for better access to rapidly-changing skills and constant reskilling
They’re prioritizing workforce planning and embracing an agile future
They’re utilizing freelancers at a higher rate
“There are a many misconceptions about younger generations in the workforce today,” said Matthew Mottola, Future of Work and On-Demand Talent Program Manager at Microsoft.
“We frequently hear things like lazy, entitled job hoppers. But nothing could be further from the truth. In my experience, Millennials are equally, if not more, committed to their work. But we expect more from our company. We expect to architect our careers according to our lifestyle and our passions. With the various opportunities our generation has at their fingertips – freelancing, remote work, entrepreneurship - companies can no longer assume our generation will settle for the status quo. The good news for companies is that if they embrace this agility and flexibility they can drive innovation and change with their organization.”
About Upwork’s Future Workforce Report
To see further insights, please visit the results deck here. The report was conducted by independent research firm Inavero. This is the third year the survey has been conducted. More than 1,000 U.S. hiring managers were surveyed through a third-party, independent online sample between October 19, 2018 and October 30, 2018.
Projection results are weighted to ensure generational demographic representation in line with the United States Bureau of Labor Force Statistics' 2018 Labor Force Statistics from the Current Population Survey and the Labor Force Projections. The study has an overall margin of error of ±3.08% at a 95% level of confidence.
About Upwork
Upwork (UPWK) is the largest freelancing website, as measured by Gross Services Volume. It enables businesses to find and work with highly skilled freelancers. As an increasingly connected and independent workforce goes online, knowledge work -- like software, shopping and content before it -- is shifting online as well. This shift is making it easier for clients to connect and work with talent in near real-time and is freeing professionals everywhere from having to work at a set time and place. Our company’s mission is to create economic opportunities so people have better lives.Upwork is headquartered in Mountain View, Calif., with offices in San Francisco and Chicago.
For more information, visit our website at www.upwork.com, join us on Twitter, Facebook and LinkedIn.
About Inavero
Inavero is a global leader in human capital management research. The firm powers satisfaction and thought leadership studies for hundreds of top firms within the space and leverages more than 300,000 survey responses annually to provide insight into the millions who work in the gig economy and the companies who hire them.
For more information, visit https://www.inavero.com/.
Contact
Katie Evans
Upwork
press@upwork.com