Gen Z is reinventing the way America works. More than half of Gen Z professionals performed freelance work last year, compared with 38%of the overall workforce, 44% of millennials, 30% of Gen X and 26% of baby boomers, according to new research by the Upwork Research Institute.
"Our research shows that the next generation of talent sees the modern career as much more diversified and dynamic than generations past," said Kelly Monahan, managing director of the institute. "They want freedom, control and autonomy that allow them to take advantage of new, distributed ways of working that ultimately impact their performance and financial stability."
Among the key findings of the research:
|- The majority of Gen Z professionals are choosing freelance careers over traditional 9-to-5 jobs. Fifty-three percent of Gen Z freelancers perform freelance work for at least 40 hours per week across a portfolio of different types of work. One-third of Gen Z freelancers who are working these hours have been doing so for more than two years.
- Gen Z has an entrepreneurial mindset when it comes to work, building more diverse, flexible careers by choice, not necessity. Although Gen Z professionals across all modes of freelancing are motivated by financial stability, 70% say they freelance to have flexibility in their schedule; 64% to work in an environment not restricted by limitations of age, race or gender expectations; 64% to work from the location of their choosing; 62% to be able to pursue work they are passionate about or find meaningful; and 61% to take more control over their personal development and career path.
- Gen Z freelancers are prioritizing learning and adopting new technologies such as AI at the highest rate. Although 51% of Gen Z professionals overall are adopting generative AI, Gen Z freelancers are adopting at even greater rates (61%) compared to their Gen Z full-time employee counterparts (41%). Notably, 39% of Gen Z freelancers already have obtained a specific certification for AI training.
- The majority of Gen Z freelancers perform skilled work. Gen Z freelancers are highly skilled, with 45% performing specialized tasks such as computer programming, writing and design, while 24% work as social media experts and influencers.
The research outlined five distinct freelance career types — portfolio careerist, independent consultant, moonlighter, temporary gig worker and company founder.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.