Kantar, the world’s leading marketing data and analytics company, today releases its Connecting with the Workforce report, revealing that 30% of the workforce have a second job due to economic concerns –whether to mitigate economic uncertainty (49%) or to meet current financial needs (34%) – a clear reflection of the impact the cost-of-living crisis in having and global instability.
According to the research, the “side-hustle” trend spans generations: 36% of Millennials, 30% of GenX, and 21% of Boomers have at least two jobs. GenZ is the most impacted group –with 40% having two or more roles, a figure that suggests that “quiet quitting” is no more than the need to be at their next job on time.
Kantar’s study, which questioned 10,000 people in 10 countries, explores the fundamental changes in today’s workforce driven by economic uncertainty, the lasting impact of the pandemic on our work habits and the wave of layoffs across industries. Other key findings include:
- Nearly half of the workforce is worried their company may need to lay off employees, and 4 out of 6 workers concerned about layoffs are considering new employment.
- 50% of people would look for a new job if an employer decided to change their remote work policy, and 80% would accept a new job if it were 100% remote.
- 45% of C-Suite respondents said they work fully remote or hybrid by choice - despite the narrative that bosses are trying to force people back to the office.
- The 4-day workweek concept is favoured by half of the workforce, and 60% would pursue a new role if the idea gained popularity.
Commenting on the findings, Caroline Frankum, CEO of Kantar’s Profiles division, said: “Connecting with the Workforce is an eye-opener for companies and leaders about the new ways people are approaching their professional lives amidst a global recession. It’s also a reminder of the importance of having first-party quality data to challenge fallacies: GenZ is not the “snowflake generation” but an incredibly hardworking resilient group – one of the counterintuitive insights revealed in this report only possible thanks to our 169 million strong Profiles Audience Network.”
Understanding how workforce sentiments and needs are changing, along with emerging trends, and debunking broadly accepted misconceptions is critical to ensure employee productivity and future-proof organisations as the world continues redefining the post-pandemic workplace.
Notes to editors
1 Research conducted via Kantar’s Profiles Audience Network across 10 markets: US, Brazil, UK, Germany, France, Spain, South Africa, China, India and Singapore.
2 Kantar is asking people globally about their behaviours, thoughts and feelings towards topical social, economic and environmental issues. To read more, visit Connecting with Communities.