It is clear that those who are coming into the world of work now and those who have recently started working would prefer to ditch the traditional 9-5 lifestyle in favour of working multiple jobs and prioritising extra-curricular hobbies.

Research from Powwownow found that 70% of millennials would like flexible working options. This is a stark difference when compared to the over 55 age category, only 47% of whom said that they would prefer to work flexible hours. This is supported by a study from Instant Offices who found that the number of freelancers aged 26-29 has risen 66% in the past decade.

The option of flexible employment is more appealing to the majority of workers with three quarters of UK employees saying that the option of flexible hours would make a job more attractive.

Nick Woodward, CEO of ETZ Payments recruitment agency, said about the findings: “People would be more inclined to pursue flexible work options but it is clear that the hesitation is not based on the availability of work as there are work opportunities for freelancers. However, fears over financial security and inconsistent payments put them off. The issues lie with the fact that those who do find work often face deeply flawed payment systems with many freelance payments being frequently late and incorrect.

Furthermore, nearly a third of UK employees said that they would prefer the option of adaptable working hours as opposed to a pay rise. The rise in flexible occupations is beneficial to everyone as in 2016, the IPSE reported that freelancers contributed £119 billion to the national economy.

Recruiters and employers would be wise to deal with these hesitations to maximise the full potential of the UK workforce. By reducing or eliminating fees by using 21st century technology, ETZ Payments offers flexible workers faster payments, making the gig economy a viable option for the critical mass of society,” the expert concluded.

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post 70% Of Millennials Want To Work Flexibly, New Research Finds appeared first on OpenBusinessCouncil Directory.

Millennials are saving more of their income than the next oldest generation of workers. This is the surprising finding of a new global survey carried out by deVere Group, the independent financial advisory organisations.

As the report found out, those in Generation Y (24-38 years old) who normally started seeking financial advice in 2018 on average saved 19 per cent of their income for their retirement.

Those in Generation X (39-53-year olds) put aside 16 per cent on average of their income for retirement; and the Baby Boomers (54-74 years old) 35 per cent.

More than 660 people participated in the survey in the UK, Europe, Africa, Asia and the U.S. amongst new clients taken on by deVere throughout last year.

Of the survey, Nigel Green, founder and CEO of deVere Group, comments: “The results of the saving survey are both encouraging and alarming.

“It is encouraging that millennials – often falsely stereotyped for their sense of entitlement and for being content to pay for overpriced coffees and smashed avocado on toast – seem to be better at saving and more fiscally responsible than many would have thought.

“Despite their reputation for purely living for today, the poll shows that they are saving for their retirement pretty impressively.  Putting aside nearly a fifth of their income already is highly commendable, especially when many can be expected not to be yet at the peak of their earning power.”

He continues: “What is alarming, however, is that Gen X, and to an extent Gen Z, workers are not saving nearly enough in order to be able to have a comparable lifestyle in retirement.  And by the virtue of being older, they have less time to build wealth before leaving work.

As deVere CEO sees it, this is perhaps particularly concerning because we’re living longer, meaning the money we accumulate has to last longer; in the future, it’s unlikely that governments will be in a position to support older people like they have done for previous generations; there is a looming health and social care crisis; as well growing deficits in company pension schemes.

“In addition, it has to be considered that there might not be the option available to work longer if necessary due to ill health, lack of career opportunities, or because of the need to look after sick or elderly relatives,” Mr Green goes on to say, “We need to revitalise the savings culture of Gen X especially. Otherwise many of today’s working population are going to reach retirement and find they have to downgrade their lifestyle and/or continue working longer than they had expected and hoped, due to a lack of savings.”

The deVere CEO concludes: “It’s never too late to start saving for your future, but of course the earlier you begin, the easier it will be to reach your long-term objectives.  As such, the millennials surveyed deserve huge credit. There’s a plethora of financial planning solutions that help you achieve financial freedom in retirement at whatever age you are.”

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

The post Which Generation Saves Most For Their Retirement? appeared first on OpenBusinessCouncil Directory.

The Enterprise Investment Scheme Association launched last week its nationally representative research gauging the wealth, work aspirations, entrepreneurial sentiment, and investor profile of the British population.

The study, carried out by the same organisation that brought a post-brexit national and investor representative piece of research, found that the national average for investable assets is £60k; but a third of Millennials state they will not be richer than their parents. A fact that is representative of  the pessimistic vision that new generations regard about their professional careers.

In the thoroughly made research, these were the major key statistics that could be found:

• Over a third (36%) of Brits – 19 million – said that they will be richer than their parents and grandparents
• 15.3 million feel the government is more supportive than ever before to start and drive your own business forward
• 18 million feel they have more opportunity now to be a business leader than ever before
• But over a third of 18-34s (36%) DO NOT feel that they will be richer than their previous generations.
• Nearly a third (32%) – 16.5 million Brits feel they are more entrepreneurial than their parents.

The Gender Split Index:

• Women have £43,000 in investable assets whilst men have near on double at £75,000.
• 38% of women do not feel that they will be richer than their parents or grandparents versus 41% of men who do.
• A third of women do not feel they are more entrepreneurial than their parents. Versus 36% of men that do.

The Nation’s Investable Finance Index

A snapshot of the value of each region’s investable asset average can be found below:

• The average investable asset value of the regions is £48,847
• London: £106,096
• North East: £33,622
• Wales: £52,354
• Scotland: £51,368
• Northern Ireland £88,447

London Vs the Regions

Nearly half (46%) of Londoners feel they are more entrepreneurial than their parents and grandparents vs 30% in the North East and 24% in the North West.

45% of Londoners feel they have more investible assets that their parents and grandparents vs 27% in the East of England and 35% in the North.

Mark Brownridge, Director General of the Enterprise Investment Scheme Association, has commented on the data: “British people in the workforce today are looking at the world of work differently to both their parents and grandparents. They are more disillusioned with the corporate ladder and see opportunities to work for themselves as a more attractive prospect. 

We, as an investment community, need to take a leading role in supporting female investors, entrepreneurs, and business people to come forward to support the entrepreneurial economy. EISA takes an active role in supporting small and medium-sized companies, hundreds of which are founded by women.

Investment schemes into SMEs that supports entrepreneurs, such as the SEIS and EIS, should be encouraged to support our future business leaders across the country.”

Hernaldo Turrillo

Hernaldo Turrillo is a writer and author specialised in innovation, AI, DLT, SMEs, trading, investing and new trends in technology and business. He has been working for ztudium group since 2017. He is the editor of openbusinesscouncil.org, tradersdna.com, hedgethink.com, and writes regularly for intelligenthq.com, socialmediacouncil.eu. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. Besides a journalist, he is also a thinker and proactive in digital transformation strategies. Knowledge and ideas have no limits.

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