Almost half (48%) of younger generation managers–both Millennials and early Generation Z–are already at a director-level or higher in the workplace, according to Upwork’s Future Workforce Report released on Tuesday. As Gen Zers get older, more than 60 million of these young employees will enter the market, resulting in younger generations making up 58% of the workforce by 2028, the report found.
The emergence of Gen Z workers means five generations of employees are sharing the workspace. While a multigenerational workforce presents a diverse set of talent, it also presents some difficulties–mainly because of the gap in tech knowledge. With Gen Zers either being digital natives, or having technology as an integral part of their formal education, they will undoubtedly reshape the workforce.
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Because younger generations have been so exposed to technology, they are accustomed to completing tasks or work on devices–a trend that is translating into the job market in the form of remote work. Nearly 70% of younger generation managers allow their team members to work remotely. These younger managers are 28% more likely to utilize remote work flexibility than Baby Boomers, the report added.
“Millennials are equally, if not more committed to their work. But we expect more from our company,” said Matthew Mottola, future of work and on-demand talent program manager at Microsoft, in a press release. “We expect to architect our career according to our lifestyle and our passions. With the various opportunities this generation has at their fingertips-freelancing, remote work, entrepreneurship–companies can no longer assume this generation will settle for the status quo.”
As more Gen Zers overtake the labor market, remote work is predicted to become the norm: By 2028, 73% of all teams will have remote employees, the report found. Remote work presents an opportunity for companies to expand their talent pool to parents, employees who work multiple jobs, or out-of-state workers. By working on-the-go or from home, employees can also attain a healthier work-life balance.
Check out this TechRepublic article for insight into how to land a remote job and thrive in it.
The big takeaways for tech leaders:
- Younger generations are 28% more likely utilize remote work than older generations. — Upwork, 2019
- 73% of all teams will have remote employees by 2028, because of the influx of Gen Zers in the coming years. — Upwork, 2019