Consensys, the blockchain and web3 software technology company, shares the findings of its “Web3 Workforce Survey,” one of the most comprehensive workforce surveys in the web3 space, conducted through YouGov, an international online research data and analytics technology group.
The research reveals record-high confidence in the “direction of web3 and levels of trust in the values that underpin the industry.”
On the other hand, with men outweighing women and non-binary people “by more than two to one, the results offer up a stark reminder for the significant need for improved gender diversity in the field.”
The survey was commissioned to shed light “on the future of work in web3 and explore what drives this unique workforce.”
As one of the largest global Web3 companies, Consensys wants “to serve as a pioneering force of change.”
The confidence on web3 future is extremely high
The survey results present a compelling picture “characterized by widespread confidence and job satisfaction across the industry and a strong desire for a web3-led future.”
Almost nine out of ten professionals (86%) are “confident about the future potential of web3, and 88% would highly recommend peers to contribute or work on projects.”
The industry is underpinned by a “crop of young talent – 83% of respondents were between the ages of 18-44 – that strongly believe a decentralized future plays a pivotal role in reshaping the world.”
Values and community matter most for web3 workers
The values behind web3 (51%) are the most important “aspect of keeping professionals involved and committed to the industry, followed closely by people and culture (48%).”
The top five most valued aspects “identified by respondents are:”
Decentralization, Innovation, Transparency, Freedom and Self-sovereignty. Decentralized Finance is the main area respondents “find most interesting (51%), followed by dApps (40%) and privacy solutions (39%).”
The fact that 82% of respondents “have attended community events in the past year further highlights the community-driven and highly-engaged ethos that makes the industry a unique and attractive field.”
Tanya Simmonds-Rosa, Head of Employee Programmes and Internal Communications at Consensys:
“Any organization would be remiss to ignore the needs of a workforce that is rewriting the rules for long-standing societal pillars—financial, political, and social. Moreover, this is a workforce that is showing what living by these new rules can look like. As innovations in web3 flourish, society will thrive and people will want more autonomy and freedom to work in a way that makes sense to them. Web3 has proven to be a catalyst for evolving the nature of how we work. It asks us to critically evaluate our current methods and chart new paths that will move us to more decentralized, community-driven, and inclusive work environments. If we do not take the findings from this survey seriously, we risk losing the next generation of talent critical to innovating at the level the world needs,” said Simmonds-Rosa.
The research reveals shifting mindsets “around the reliability, trust and desire to use traditional financial services.”
This is highlighted by the fact that “although two-thirds of workers get paid solely in fiat (67%), only 30% feel comfortable with this type of payment method.”
Furthermore, half of the respondents prefer “a payment method mix between crypto and fiat, but currently only 17% receive this.”
These findings indicate a growing “demand for more flexible and modern compensation structures, one that chimes in more broadly with the ethos of web3, suggesting that web3 firms would be wise to consider offering compensation via fiat only, a mix of fiat/crypto and crypto-only.”
Consensys continues to lead the charge “around competitive, web3-centric compensation, recently implementing the option for all employees to be paid in crypto.”
The belief that it is a necessity to build, use and promote democratized payment systems is ingrained “within the web3 talent, and was the force behind the company’s decision to include crypto as a choice in compensation.”
The remote working lifestyle remains “an important factor to retaining talent within web3 with two out of three respondents considering themselves digital nomads. Additionally, 72% of professionals see remote and flexible work opportunities as a key reason for staying in their current job.”
