March 01, 2018

Key Findings from Future Workforce Report

Upworks recently released the results of its second annual Future Workforce report. Over 1,000 hiring managers across the U.S. were surveyed to explore hiring behaviors and examine how work is changing as skills and technology evolves. One of the main findings uncovered from the report is that companies are embracing agile, remote teams, but the majority lack remote work policies. Below are some of the other key findings from the report

  • Talent is hard to find
    • 91% of hiring managers had open policies on their team at some point in 2017
    • The typical position is open for 36 days, with positions in engineering (45 days) and accounting/finance (39 days) open the longest
    • Top hiring challenges for 2017 included access to skills (53%), cost/budget (45%), and internal hiring processes (33%)
  • There is an increased need to shift to a more flexible workforce model
    • 65% of hiring managers agree that companies need to invest in training/re-skilling workers to prepare for the jobs of tomorrow
    • 52% of hiring managers cited shortage of talent as a top driver for shifting to a more flexible workforce model
    • Hiring managers expect a 168% increase in the amount of work done by flexible talent in 10 years
  • Remote work is more common
    • 63% of companies have remote workers, but 57% lack remote work policies
    • Five times as many hiring managers expect more of their teams to work remotely in the next 10 years than expect less
    • 61% of hiring managers with remote workers and 52% with remote work policies agree that hiring has become easier in the past year
    • Twice as many hiring managers believe having the right skills is more important than working in the same location as the rest of the team
  • Usage of freelancers is growing
    • 79% report that their company’s utilization of freelancers has changed in the past 3 years
    • 48% of companies are currently using freelancers (up from 43% in 2017)
    • 9 out of 10 hiring managers are open to working with freelancers rather than making temporary hires through a staffing firm
  • Technological innovations will have an impact
    • The Internet of Things (IoT) is ranked as the top innovation in the next 10 years, two times more than AI and three times more than robotics
    • Only 13% consider virtual reality to be a top innovation to impact the organization over the next decade
  • Skills are becoming more specialized
    • The top sought after skill in 2018 will be big data and analytics
    • This is followed by marketing/sales automation and Internet of Things (IoT)