March 19, 2025 • 12 mins
Learn how Gen Z is reshaping the labor market by redefining what a career looks like. The latest data shows Gen Z is prioritizing flexibility, autonomy, and skill diversification over traditional career paths. In this episode of Work Week, host Dr. Gabby Burlacu, Senior Manager at The Upwork Research Institute, explores the benefits and risks of portfolio careers for the workforce, and steps companies can take to engage this new generation of workers. Whether you're a business leader rethinking hiring strategies or a worker considering new career paths, this episode offers key insights into the future of work. Tune in to Work Week and discover how today’s workforce is reshaping career norms.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:05):
- Hello and welcome to "Work Week,"
the podcast where wetackle one big question
about the rapidly evolving workplace,
explore what the researchsays about the issue,
and explain what it all means for you.
In this episode, we're going to look at
shifting workforce dynamicsand why Gen Z especially
is embracing what wecall portfolio careers.
(00:28):
But first, I need to introduce myself.
This is only the secondepisode of "Work Week"
and my first time hosting.
I'm Dr. Gabby Burlacu,
senior manager with theUpwork Research Institute.
Or rather, what you'rehearing are my words
brought to you by adigital proxy of my voice
created by our team with the help of AI.
And that fusion ofhuman-driven thought leadership
(00:48):
enabled with AI is intentional.
Our goal with "Work Week" is to help you,
the business leaders and workers
navigating dramatically disrupted markets,
to keep pace with therapidly changing labor market
while also showing how the latest tools
create new ways of workingand open new opportunities.
And these shifts in howwork is getting done
(01:08):
is something Gen Z is rapidly embracing.
Older generations in the labor market,
baby boomers especially, butalso Gen X and millennials,
held careers that lookedvery different from today.
Specifically, they started their careers
with different technologies,economic realities,
and opportunities,
and this was reflected inhow they approach their jobs
(01:29):
as a fairly permanent arrangement
after graduating from school,
with career growth happeningnaturally over time.
But Gen Z, people born in the late 1990s
through the early 2010s,
seems to be rewritingthat script in a big way.
Instead of sticking to one employer,
many Gen Zers are jugglingmultiple projects, clients,
or even part-time roles at once
(01:50):
through non-traditional modesof work like freelancing.
It's a one-to-many approach
that's redefining what itmeans to have a career.
What I wanna look at todayis why this is happening
and what it means for organizations
that still rely on thetraditional hiring model.
The latest data on GenZ's career preferences,
according to Upwork's GenZ work requirements study,
(02:11):
shows that more than50% of Gen Z respondents
say they're already workingwith multiple employers
or strongly considering it.
At the same time, nearly70% of those surveyed
value flexibility and autonomy
over the traditional9:00-to-5:00 corporate perks
of a steady paycheck or a formal title.
Plus, 2/3 believe that portfolio careers,
(02:31):
holding multiple projectsor client relationships,
actually offer greater jobsecurity than a single employer.
In sum, this data shows that these shifts
are more than a fad.
They are a fundamentalchange in the labor market.
Gen Z is embracing thesenew modes of working
not as side hustles but as a restructuring
of what a career can actually look like.
(02:51):
In our research, we also wanted to see
if we could learn why Gen Zis so open to these changes,
and four reasons stood out in our data.
The first is the desire for flexibility.
After the pandemic, arigid 9:00-to-5:00 schedule
is seen as a deal breaker byover 60% of Gen Z respondents.
One upshot of beingforced to work from home
(03:12):
was that people saw thatworking remotely worked.
It helped them find work-life balance
without many of the negative effects
their employers hadworried about pre-pandemic,
but it also widened the opportunity pool.
In the 1970s, '80s, '90s,and even into the 2000s,
people were largely limitedin their job opportunities
(03:34):
by where they lived orwere willing to move.
But high-speed internetand mobile technology
have opened up a world of work
for people willing to embrace it.
The next reason Gen Z is so open
to these changing modes of workis technological enablement.
Following the adventof high-speed internet
and the proliferation of mobile technology
platforms like Upwork entered the market,
(03:55):
enabling connections with global clients
and making invoicing and billing easy.
At the same time,platforms like Etsy, eBay,
and Amazon Marketplaceallow people to work
in multiple sectors andpursue their many passions.
Reason number three isalignment of professional
and personal values.
Gen Z is all about aligningwork with personal values,
(04:15):
be it environmentaladvocacy, creative pursuits,
or tech solutions.
Research shows that this isthe most diverse generation
in terms of race and ethnicity ever.
Gen Z workers want their individuality
and values reflected in the companies
they choose to do business with,
and many feel they increasetheir chances of achieving this
by working with more than one employer.
(04:36):
And the final reason Gen Z
is embracing these newmodes of working is simple:
economic pragmatism.
Where previous generationsfelt more security
with a single employer
and the benefits that employer provided,
Gen Z feels more confident
holding multiple projectsfrom many clients.
This lets them work onprojects they find rewarding,
while also hedging against layoffs
(04:57):
or sudden changes that mighthappen in a single company.
In a labor market that'sseen as many changes
as Gen Z has seen,
it's no wonder they'rechoosing to diversify.
Many in this generationare old enough to remember
the recession of 2007 to 2009.
As they graduated high school,
they faced the ballooningcosts of higher education
and housing, and withthe COVID-19 pandemic,
(05:19):
they saw both how insecurethe job market could be
as well as how to mitigatesome of those risks.
Today, instead of putting all their eggs
in one employer's basket,they're spreading out their risks
and their opportunities.
This brings some major advantages.
For example, skill diversification.
Multiple projects drivefaster skill development.
(05:40):
They can choose to take somework that reinforces skills
they're already proficient in,
while at the same time taking roles
that push their boundaries
and get them outsideof their comfort zone.
Gen Z also recognizes thisfeeling of greater ownership,
meaning that they canbuild personal brands
across different networks.
This might include networksin the same industry,
or they could even reach out
(06:00):
into entirely differentsectors of the economy.
They are only limited bytheir willingness to try.
There's also the advantage
of being able to make morechoices in regard to lifestyle.
Some travel or pursue passion projects
while still earning a living.
Working remotely often meansbeing able to work where
and when it makes themost sense for the person
(06:20):
rather than the employer.
The work still gets done, andbecause the worker is happier
and feels more fulfilled,it often gets done better.
But it's not all unicorns and rainbows.
There are, of course,some challenges presented
when choosing to gowith a portfolio career,
like lack of traditionalbenefits, no built-in healthcare,
paid time off, or retirement matching.
(06:42):
A portfolio career meansbudgeting differently
for vacations, doctorappointments, holidays,
and even retirement.
And in the US,
it means finding insuranceon the open market.
There's also the risk of burnout.
Managing several clientscan be overwhelming.
Independent professionalshave to learn the skill
of setting boundaries andneed to find the right tools
and platforms to help themjuggle multiple ongoing projects,
(07:05):
clients, and communication channels.
Another challenge, and onethat isn't talked about enough,
is isolation.
While many people find portfolio careers
and remote work freeing,
some miss the comraderyof a single workplace.
While the data shows thatin-office and remote workers
experience feelings ofisolation at similar rates,
remote workers have noopportunity for a chance encounter
(07:28):
with a friend in the breakroom or at the elevator.
Creating virtual spaces in Zoom and Slack
or finding a coworking space
to replicate thatat-the-office feel can help.
The data shows Gen Z is willing to handle
the complexities of these downsides
for the sake of autonomy, control,
and a stronger sense of personal agency.
(07:53):
Okay, so that's a big-pictureview of portfolio careers
from the workers' perspective.
Now let's shift our focusfrom the individuals
to the companies.
And specifically, let's look at companies
that hope to stick totraditional employment models
because they're facingsome pressing questions.
A key concern for leaders
who don't like theseshifts in the workforce
(08:13):
is talent acquisition.
If the next generation of workers, Gen Z,
wants more flexible arrangements,
companies may need to hirespecialized freelancers
for project-based roles,
or else they will soon find themselves
with a very limited talent pool.
What these trends don't meanis that a company's workforce
will be completely made upof part-time freelancers.
(08:36):
For many companies, thesolution will look like
having a core group offull-time employees,
maybe some working remotelyand others on-site,
and then supplementing thatworkforce with specialists.
These specialists mightcome in for a single project
or only work for a limitednumber of hours each week.
Those arrangements can be flexible
to meet the needs of boththe company and worker.
(08:57):
But once talent acquisition is solved,
retention becomes the next puzzle.
Standard career ladders might not cut it
if Gen Z sees more variety andfaster growth opportunities
outside of a single employer.
Internal gig marketplacesor rotational programs
could help mimic that portfolio feel.
At the same time, contractswith independent professionals
(09:18):
can include periodic pay increases
and inclusion in company-sponsored events.
This can help build lastingprofessional relationships
as well as a sense of comraderywith the in-house team.
This won't replace the static workforce
from previous generations
but can help create a morecohesive and stable workforce.
A third major concern for companies
as the workforce continuesto shift is culture.
(09:40):
If a company can't offerremote or hybrid work options,
flexible hours, andmeaningful growth tracks,
Gen Z may head for the exit.
Especially as older generationsleave the workforce,
companies may need to adjusttheir workplace culture
and expectations
in order to meetmission-critical objectives.
While technology can provide the tools
to enable these changes,technology alone isn't enough.
(10:03):
For many companies, howwork is structured, valued,
and delivered will have to change.
And that leads us to ourregular wrap-up segment.
One action and one reflection.
While it's natural to be leery of change,
the beautiful thing aboutworking with portfolio talent
is that their work can be foldedinto a company's practices
in incremental ways.
You don't have to make a dramatic change
(10:24):
in how you do business torealize dramatic benefits
from this new way of working.
You can start by breakinga single big project
down into smaller modular parts
that freelancers orrotating teams can tackle.
Develop this in a way thatis accessible and shareable,
such as using kanban boards
or other project management tools.
Use this as an internal talent marketplace
(10:45):
so full-time staff canexplore varied roles
or client-facing work withoutleaving the organization.
As you add more projects to this system,
you'll find talent and interests
that you didn't know your team had
and also be able to identify areas
where you can supplement your team skills,
either with continuing education programs
or by contracting outside help.
(11:05):
Encourage cross-department skill sharing
to keep the environment dynamic
and appealing for employeeswho crave variety.
This can both help youremployees feel more fulfilled
and supported and alsocreate a robust workforce
with the agility to tacklemany different challenges.
No matter how we feel aboutit, the markets are changing.
For listeners who are intrigued
at the idea of portfolio work
(11:27):
but intimidated at the prospect,
I encourage you to ask yourself,
"Could a portfolio approachjuggling diverse projects
boost my career resilienceand personal fulfillment?"
If yes, create a timeline or roadmap
for transitioning intofreelance or part-time roles.
If no, look for ways to bring more variety
into your current job,whether through side projects,
(11:48):
cross-functional teams,or new skill development.
It's not one size fitsall, but given the data,
it's smart to at least considerhow this emerging model
might fit or not fit yourpersonal career goals.
And that's it for today'sepisode of "Work Week."
We looked at why Gen Z professionals
are moving from a single-employer model
(12:09):
to a one-to-many portfolio career
and explored what thatmeans for all of us.
Research from Upwork's GenZ work requirements study
shows that flexibility,diverse experiences,
and autonomy are key.
Whether you're an employer trying to adapt
or an individual weighing your options,
this shift has real implicationsfor the future of work.
(12:29):
If you found this episode insightful,
share it with a friend or colleague,
and be sure to follow "Work Week"
for more on how our workforce is evolving.
I'm Gabby Burlacu, remindingyou that the future of work
belongs to those willing to reshape it.
Whether that means havingone employer or many.
- Hello and welcome to "Work Week,"
the podcast where wetackle one big question
about the rapidly evolving workplace,
explore what the researchsays about the issue,
and explain what it all means for you.
In this episode, we're going to look at
shifting workforce dynamicsand why Gen Z especially
is embracing what wecall portfolio careers.
(00:28):
But first, I need to introduce myself.
This is only the secondepisode of "Work Week"
and my first time hosting.
I'm Dr. Gabby Burlacu,
senior manager with theUpwork Research Institute.
Or rather, what you'rehearing are my words
brought to you by adigital proxy of my voice
created by our team with the help of AI.
And that fusion ofhuman-driven thought leadership
(00:48):
enabled with AI is intentional.
Our goal with "Work Week" is to help you,
the business leaders and workers
navigating dramatically disrupted markets,
to keep pace with therapidly changing labor market
while also showing how the latest tools
create new ways of workingand open new opportunities.
And these shifts in howwork is getting done
(01:08):
is something Gen Z is rapidly embracing.
Older generations in the labor market,
baby boomers especially, butalso Gen X and millennials,
held careers that lookedvery different from today.
Specifically, they started their careers
with different technologies,economic realities,
and opportunities,
and this was reflected inhow they approach their jobs
(01:29):
as a fairly permanent arrangement
after graduating from school,
with career growth happeningnaturally over time.
But Gen Z, people born in the late 1990s
through the early 2010s,
seems to be rewritingthat script in a big way.
Instead of sticking to one employer,
many Gen Zers are jugglingmultiple projects, clients,
or even part-time roles at once
(01:50):
through non-traditional modesof work like freelancing.
It's a one-to-many approach
that's redefining what itmeans to have a career.
What I wanna look at todayis why this is happening
and what it means for organizations
that still rely on thetraditional hiring model.
The latest data on GenZ's career preferences,
according to Upwork's GenZ work requirements study,
(02:11):
shows that more than50% of Gen Z respondents
say they're already workingwith multiple employers
or strongly considering it.
At the same time, nearly70% of those surveyed
value flexibility and autonomy
over the traditional9:00-to-5:00 corporate perks
of a steady paycheck or a formal title.
Plus, 2/3 believe that portfolio careers,
(02:31):
holding multiple projectsor client relationships,
actually offer greater jobsecurity than a single employer.
In sum, this data shows that these shifts
are more than a fad.
They are a fundamentalchange in the labor market.
Gen Z is embracing thesenew modes of working
not as side hustles but as a restructuring
of what a career can actually look like.
(02:51):
In our research, we also wanted to see
if we could learn why Gen Zis so open to these changes,
and four reasons stood out in our data.
The first is the desire for flexibility.
After the pandemic, arigid 9:00-to-5:00 schedule
is seen as a deal breaker byover 60% of Gen Z respondents.
One upshot of beingforced to work from home
(03:12):
was that people saw thatworking remotely worked.
It helped them find work-life balance
without many of the negative effects
their employers hadworried about pre-pandemic,
but it also widened the opportunity pool.
In the 1970s, '80s, '90s,and even into the 2000s,
people were largely limitedin their job opportunities
(03:34):
by where they lived orwere willing to move.
But high-speed internetand mobile technology
have opened up a world of work
for people willing to embrace it.
The next reason Gen Z is so open
to these changing modes of workis technological enablement.
Following the adventof high-speed internet
and the proliferation of mobile technology
platforms like Upwork entered the market,
(03:55):
enabling connections with global clients
and making invoicing and billing easy.
At the same time,platforms like Etsy, eBay,
and Amazon Marketplaceallow people to work
in multiple sectors andpursue their many passions.
Reason number three isalignment of professional
and personal values.
Gen Z is all about aligningwork with personal values,
(04:15):
be it environmentaladvocacy, creative pursuits,
or tech solutions.
Research shows that this isthe most diverse generation
in terms of race and ethnicity ever.
Gen Z workers want their individuality
and values reflected in the companies
they choose to do business with,
and many feel they increasetheir chances of achieving this
by working with more than one employer.
(04:36):
And the final reason Gen Z
is embracing these newmodes of working is simple:
economic pragmatism.
Where previous generationsfelt more security
with a single employer
and the benefits that employer provided,
Gen Z feels more confident
holding multiple projectsfrom many clients.
This lets them work onprojects they find rewarding,
while also hedging against layoffs
(04:57):
or sudden changes that mighthappen in a single company.
In a labor market that'sseen as many changes
as Gen Z has seen,
it's no wonder they'rechoosing to diversify.
Many in this generationare old enough to remember
the recession of 2007 to 2009.
As they graduated high school,
they faced the ballooningcosts of higher education
and housing, and withthe COVID-19 pandemic,
(05:19):
they saw both how insecurethe job market could be
as well as how to mitigatesome of those risks.
Today, instead of putting all their eggs
in one employer's basket,they're spreading out their risks
and their opportunities.
This brings some major advantages.
For example, skill diversification.
Multiple projects drivefaster skill development.
(05:40):
They can choose to take somework that reinforces skills
they're already proficient in,
while at the same time taking roles
that push their boundaries
and get them outsideof their comfort zone.
Gen Z also recognizes thisfeeling of greater ownership,
meaning that they canbuild personal brands
across different networks.
This might include networksin the same industry,
or they could even reach out
(06:00):
into entirely differentsectors of the economy.
They are only limited bytheir willingness to try.
There's also the advantage
of being able to make morechoices in regard to lifestyle.
Some travel or pursue passion projects
while still earning a living.
Working remotely often meansbeing able to work where
and when it makes themost sense for the person
(06:20):
rather than the employer.
The work still gets done, andbecause the worker is happier
and feels more fulfilled,it often gets done better.
But it's not all unicorns and rainbows.
There are, of course,some challenges presented
when choosing to gowith a portfolio career,
like lack of traditionalbenefits, no built-in healthcare,
paid time off, or retirement matching.
(06:42):
A portfolio career meansbudgeting differently
for vacations, doctorappointments, holidays,
and even retirement.
And in the US,
it means finding insuranceon the open market.
There's also the risk of burnout.
Managing several clientscan be overwhelming.
Independent professionalshave to learn the skill
of setting boundaries andneed to find the right tools
and platforms to help themjuggle multiple ongoing projects,
(07:05):
clients, and communication channels.
Another challenge, and onethat isn't talked about enough,
is isolation.
While many people find portfolio careers
and remote work freeing,
some miss the comraderyof a single workplace.
While the data shows thatin-office and remote workers
experience feelings ofisolation at similar rates,
remote workers have noopportunity for a chance encounter
(07:28):
with a friend in the breakroom or at the elevator.
Creating virtual spaces in Zoom and Slack
or finding a coworking space
to replicate thatat-the-office feel can help.
The data shows Gen Z is willing to handle
the complexities of these downsides
for the sake of autonomy, control,
and a stronger sense of personal agency.
(07:53):
Okay, so that's a big-pictureview of portfolio careers
from the workers' perspective.
Now let's shift our focusfrom the individuals
to the companies.
And specifically, let's look at companies
that hope to stick totraditional employment models
because they're facingsome pressing questions.
A key concern for leaders
who don't like theseshifts in the workforce
(08:13):
is talent acquisition.
If the next generation of workers, Gen Z,
wants more flexible arrangements,
companies may need to hirespecialized freelancers
for project-based roles,
or else they will soon find themselves
with a very limited talent pool.
What these trends don't meanis that a company's workforce
will be completely made upof part-time freelancers.
(08:36):
For many companies, thesolution will look like
having a core group offull-time employees,
maybe some working remotelyand others on-site,
and then supplementing thatworkforce with specialists.
These specialists mightcome in for a single project
or only work for a limitednumber of hours each week.
Those arrangements can be flexible
to meet the needs of boththe company and worker.
(08:57):
But once talent acquisition is solved,
retention becomes the next puzzle.
Standard career ladders might not cut it
if Gen Z sees more variety andfaster growth opportunities
outside of a single employer.
Internal gig marketplacesor rotational programs
could help mimic that portfolio feel.
At the same time, contractswith independent professionals
(09:18):
can include periodic pay increases
and inclusion in company-sponsored events.
This can help build lastingprofessional relationships
as well as a sense of comraderywith the in-house team.
This won't replace the static workforce
from previous generations
but can help create a morecohesive and stable workforce.
A third major concern for companies
as the workforce continuesto shift is culture.
(09:40):
If a company can't offerremote or hybrid work options,
flexible hours, andmeaningful growth tracks,
Gen Z may head for the exit.
Especially as older generationsleave the workforce,
companies may need to adjusttheir workplace culture
and expectations
in order to meetmission-critical objectives.
While technology can provide the tools
to enable these changes,technology alone isn't enough.
(10:03):
For many companies, howwork is structured, valued,
and delivered will have to change.
And that leads us to ourregular wrap-up segment.
One action and one reflection.
While it's natural to be leery of change,
the beautiful thing aboutworking with portfolio talent
is that their work can be foldedinto a company's practices
in incremental ways.
You don't have to make a dramatic change
(10:24):
in how you do business torealize dramatic benefits
from this new way of working.
You can start by breakinga single big project
down into smaller modular parts
that freelancers orrotating teams can tackle.
Develop this in a way thatis accessible and shareable,
such as using kanban boards
or other project management tools.
Use this as an internal talent marketplace
(10:45):
so full-time staff canexplore varied roles
or client-facing work withoutleaving the organization.
As you add more projects to this system,
you'll find talent and interests
that you didn't know your team had
and also be able to identify areas
where you can supplement your team skills,
either with continuing education programs
or by contracting outside help.
(11:05):
Encourage cross-department skill sharing
to keep the environment dynamic
and appealing for employeeswho crave variety.
This can both help youremployees feel more fulfilled
and supported and alsocreate a robust workforce
with the agility to tacklemany different challenges.
No matter how we feel aboutit, the markets are changing.
For listeners who are intrigued
at the idea of portfolio work
(11:27):
but intimidated at the prospect,
I encourage you to ask yourself,
"Could a portfolio approachjuggling diverse projects
boost my career resilienceand personal fulfillment?"
If yes, create a timeline or roadmap
for transitioning intofreelance or part-time roles.
If no, look for ways to bring more variety
into your current job,whether through side projects,
(11:48):
cross-functional teams,or new skill development.
It's not one size fitsall, but given the data,
it's smart to at least considerhow this emerging model
might fit or not fit yourpersonal career goals.
And that's it for today'sepisode of "Work Week."
We looked at why Gen Z professionals
are moving from a single-employer model
(12:09):
to a one-to-many portfolio career
and explored what thatmeans for all of us.
Research from Upwork's GenZ work requirements study
shows that flexibility,diverse experiences,
and autonomy are key.
Whether you're an employer trying to adapt
or an individual weighing your options,
this shift has real implicationsfor the future of work.
(12:29):
If you found this episode insightful,
share it with a friend or colleague,
and be sure to follow "Work Week"
for more on how our workforce is evolving.
I'm Gabby Burlacu, remindingyou that the future of work
belongs to those willing to reshape it.
Whether that means havingone employer or many.
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