Thursday, November 30, 2017

NextGen Work- A Positive Future

Labor market dynamics are shifting rapidly: populations are aging and skills needs are changing faster than ever, driven by technological progress and globalization. The gap between the skills people have and those employers need is widening, polarizing workforces and populations around the world.
The ‘Monday-Friday 9-5 job for life’ has moved on and much of the jobs growth over the last 10-15 years has occurred in non-traditional, alternative ways of working. We are in the human age now and NexGen work is nothing but a shift in the mindset of workers who are now more open to working in a different way and redefining the term “Job”. Workers who look for Flexibility in their work, location, working hours, etc. make them the NextGen.

A recent report by ManpowerGroup, "Gig Responsibly: The Rise of NextGen Work," examines the growth of various non-traditional work arrangements, including part-time, contingent, contract, temporary, freelance, flex and others. ​Results from the report show that, for 81% of respondents, non-traditional work arrangements are a choice, rather than a necessity.

The Gen next is working longer, learning more each day and most importantly seeking a better balance between work and home.

Some very interesting finds of the report are that 87% of people are open to do NextGen work  in the future. People and organizations want new ways to get work done and are adapting quickly to meet the requirements. Non Traditional ways of working are being liked by the workforce.  The number of people working in gigs is still only a small part of the labor force. However, those seeking flexible, non-traditional ways of working are significantly greater.

The next generation values quality over quantity in their work and want meaningful work, including recognition for good performance.  For organizations hiring on-demand workers allows businesses to adjust their staffing levels and access a wider, more specialized talent pool without a large financial investment.

The report also show that emerging markets are most open to NextGen Work: India and Mexico are leading the way with 97% of people open to freelance, contract, temporary or independent contractor work.  People are choosing next gen work for many reason by the top 3 are: To earn extra money, developing new skills & balancing between personal & professional life.

Whether it’s young graduates trying to break into the workforce, mid-careers trying to balance caring for newborns, teenagers or older family members, people want careers that are more agile than the old job-for-life, full-time model.

NextGen Work is a global phenomenon, and from a worker’s perspective, it’s a positive one. Openness to alternative work models varies by country, impacted by a myriad of factors from the rigidity of labor regulations and the role of trade unions and collective bargaining, to the attitudes and mobility of workers. NextGen worker will work on their own terms and flexibility but most importantly will responsible for some great innovations.