Upwork Launches Research Institute To Help Guide Organizations Through Workforce Transformation and Redefine Tomorrow’s Work, Today
02 Noviembre 2023 - 5:30AM
Upwork Inc. (Nasdaq: UPWK), the world’s largest1 work marketplace
that connects businesses with independent talent from across the
globe, today launched The Upwork Research Institute to further the
company’s commitment to studying fundamental shifts in workforce
dynamics, and provide business leaders with the insights and tools
they need to navigate and prepare for the workforce of tomorrow.
Under the leadership of Dr. Kelly Monahan, Managing Director of
The Upwork Research Institute, the team is dedicated to utilizing
research to help guide organizations through workforce
transformation with the lens that companies need to radically shift
how they think and operate in order to unlock breakthrough
possibilities for talent and business.
The Research Institute will help drive work transformation for
organizations in two ways:
- Global survey research and original
whitepapers: In collaboration with leading experts,
academics, research firms and prominent Future of Work
organizations, the Research Institute will conduct ongoing global
survey research to understand attitudes and behaviors of executives
across various industries and regions to create blueprints for
companies striving to redesign work.
- Proprietary Upwork platform data: The Research
Institute will analyze proprietary platform data on Upwork to
uncover hiring behaviors across emerging skills, like generative
AI; evolving customer habits; the growing supply of independent
talent and the impact on market dynamics; and more.
As part of the launch, the Research Institute today released its
inaugural research report, Reinventing Work: Unveiling the Work
Innovators' Blueprint for Success, which analyzes what sets
high-performing companies and leaders apart.
In a year-long survey of more than 1,900 global business leaders
– directors through C-suite level – the research identified
three critical attributes linked to
high-performing companies, referred to as “Work Innovator
Companies.” These companies, which were less than a quarter (23%)
of those surveyed, had three distinct attributes, compared to their
competitors: 1) put new technology to work throughout their
organization; 2) open their culture to flexible talent; and 3)
create distributed team best practices.
In an environment where leaders are being asked to do more with
less, the research identified four key actions
leaders at these Work Innovator Companies are taking that are
directly driving performance gains.
- Using data and AI for decision-making across the
organization. Data is a part of everyone’s role, and data
democratization is seen as critical for insight-driven
decision-making.
- Having strong internal operational practices
that guide how the company communicates, collaborates, and
orchestrates work across the organization.
- Having an inherent trust in one’s workforce to
do great work, regardless of location or worker type.
- Possessing strategic orientation toward caring for
workforce needs across the company’s talent
ecosystem.
“Our research proves that business success is grounded in how we
work, rather than where or when we work," said Kelly Monahan,
Managing Director of The Upwork Research Institute. "There is so
much noise in the workforce trend conversation that it can be
challenging to identify and prioritize what is right for a
business. We tested whether company size, industry,
return-to-office mandates, and other company attributes impacted
performance and revenue, but none mattered. Prioritizing the four
actions that focus on how the work gets done can serve as the new
blueprint to help leaders navigate and succeed even in this
uncertainty.”
The research also reveals the performance benefits Work
Innovator Companies experience. Leaders within Work Innovator
Companies are:
- 1.6 times more likely to say they work on a highly
effective team: Nearly 60% of high-performers say they
work on a highly effective team (59%), compared to 36% of their
lower-performing peer companies.
- 2 times more likely to be completely confident in their
organization’s future: More than half (53%) say they are
completely confident in their organization’s future outlook,
compared to 27% of their peers.
- 2.5 times more likely to be satisfied with their
organization’s current financial performance: More than
half (53%) say they are completely satisfied with their
organization’s current financial performance, compared to 21% of
their peers.
- 2.5 times more likely to report a significant increase
in their companies’ revenue growth over the last 12
months: More than a third (33%) reported a significant
increase in their companies’ revenue growth over the last 12
months, compared to only 13% of their peers.
- 3.8 times more likely to have a well-defined generative
AI strategy in place: Nearly half (49%) say they have a
well-defined Gen AI strategy in place and have implemented it
across their organization, compared to just 13% of their
peers.
For full findings and further insights visit
https://www.upwork.com/research/work-innovator-report/2023 and
for more research from The Upwork Research Institute, visit
https://www.upwork.com/research.
About the SampleA total of 1,940 survey
participants were analyzed for the research reported, with 435 (22%
of the sample) representing C-suite roles. In May and June 2023,
The Upwork Research Institute, in collaboration with ClearlyRated,
polled 1,418 business decision-makers in the United States. The
survey covered seven key industries: Software & Technology,
Retail, Healthcare, Manufacturing, Financial Services, Media &
Telecommunications, and Business & Professional Services.
Later, in September 2023, The Upwork Research Institute fielded a
global business decision-maker survey of 522 participants in
collaboration with McGuire Research, which included the following
countries: Australia, Canada, China, Germany, Spain, France, the
UK, India, Italy, Japan, South Korea, Philippines, and the US.
About UpworkUpwork is the world’s largest1 work
marketplace that connects businesses with independent talent from
across the globe. We serve everyone from one-person startups to
large, Fortune 100 enterprises with a powerful, trust-driven
platform that enables companies and talent to work together in new
ways that unlock their potential. Our talent community earned over
$3.8 billion on Upwork in 2022 across more than 10,000 skills in
categories including website & app development, creative &
design, customer support, finance & accounting, consulting, and
operations. Learn more at upwork.com and join us on LinkedIn,
Facebook, Instagram, TikTok, and X, formerly Twitter.
Contact:Christine Kimpress@upwork.com
1 As measured by gross services volume.
A photo accompanying this announcement is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/e09111d9-3415-4812-b0c3-8621982a3073
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