HP Study Unveils the Rise of the ‘Empowered Employee’

Rhea-AI Summary

HP Inc. (NYSE: HPQ) released its Workforce Evolution Study, revealing how the COVID-19 pandemic has driven the need for reskilling. With 60% of office workers in the U.S. and Europe emphasizing the importance of lifelong learning, the study highlights the emergence of the 'Empowered Employee' trend. More than 40% are reskilling through online programs, notably HP LIFE, which saw a 282% increase in signups. Additionally, 35% of employees are more inclined to start their own businesses post-reskilling. The survey included 6,000 workers and was conducted by Edelman Intelligence.

Positive

• 60% of U.S. and European office workers prioritize lifelong learning.
• 282% increase in signups for HP LIFE, a skills-training program.
• 35% of surveyed employees are likely to start their own businesses after gaining new skills.

Negative

• None.

As the pandemic accelerates workforce innovation, employees are prioritizing the pursuit of personal passions, reskilling and retraining themselves for the future of work

PALO ALTO, Calif., Oct. 14, 2020 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) today released the results of its HP Workforce Evolution Study (WES) that reveals how the acceleration of digitization and remote work caused by the COVID-19 pandemic has heightened the need for reskilling, with 6 in 10 office workers in the U.S. and Europe agreeing that lifelong learning is now more important than ever before.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

In the face of decreased job security, HP’s study identifies a new trend in the rise of the “Empowered Employee” – office workers who are retraining themselves with the skills needed to succeed beyond their current roles and for the future of work. More than 40% are doing so through online programs, like HP LIFE — a free, skills-training program for entrepreneurs, business owners, and lifelong learners all over the world — that has seen an impressive 282% growth in signups compared to the same period in 2019.

With 35% of employees surveyed more likely to start their own companies with the new skills they gain, HP’s survey also examines what actions employers must take to ensure they are providing employees with the support, equipment, training and flexibility required to attract and retain top talent.

“The past few months have accelerated the future of work. Everyone has been affected — from the world’s most powerful organizations to small businesses and individuals,” says Tracy Keogh, Chief Human Resources Officer at HP and co-chair of the World Economic Forum’s task force for the Future of Work. “It is more important than ever to not only invest in the latest technology but also invest in the skills of our workforce. The strength and agility of our people will be what continues to propel us forward.”

These trends are not exclusive to the United States and Europe. Another report HP commissioned earlier this year — The HP Asia SMB Report 2020 — found that SMBs in Asia also realize the important of innovating the way people work and investing in digital-first skills to maintain growth post-COVID.

Workforce Evolution Study Methodology
Commissioned by HP, and conducted by Edelman Intelligence, the study involved a fifteen-minute online survey of 6,000 office workers across the United States, United Kingdom, Spain, Germany, France, and Italy. Data was collected between July 24, 2020, and August 5, 2020. More information is available here.

Office workers are defined as primarily desk- or office-based employees who work full-time, part-time or reduced hours due to COVID-19. To learn more about the study, individual market findings and HP’s additional predictions for the future of work, manufacturing and innovation please visit: press.hp.com.

HP Asia SMB Report 2020 Methodology
HP’s SMB study in Asia surveyed 1,600 small-to-medium businesses in eight markets to understand how the COVID-19 pandemic has affected them, and the tools and support they need to recover.

About HP Inc.
HP Inc. (NYSE: HPQ) creates technology that makes life better for everyone, everywhere. Through our product and service portfolio of personal systems, printers and 3D printing solutions, we engineer experiences that amaze. More information about HP Inc. is available at www.hp.com.

FAQ

What are the key findings of HPQ's Workforce Evolution Study released on October 14, 2020?

HPQ's Workforce Evolution Study indicates that 60% of office workers value lifelong learning due to COVID-19, with over 40% reskilling through online programs like HP LIFE.

How much did signups for HP LIFE increase according to the recent HPQ study?

Signups for HP LIFE increased by 282% compared to the same period in 2019, showing a significant rise in demand for reskilling.

What percentage of employees surveyed by HPQ are considering starting their own business?

35% of employees surveyed are more likely to start their own companies after acquiring new skills through reskilling efforts.

Who conducted the study for HPQ regarding workforce evolution?

The Workforce Evolution Study was commissioned by HPQ and conducted by Edelman Intelligence, surveying 6,000 office workers.

What is the purpose of the HP LIFE program mentioned in the HPQ study?

HP LIFE is a free skills-training program designed to help entrepreneurs, business owners, and lifelong learners enhance their skills for future work.