Why the Employment Landscape is Shifting

…and how Actalent's Apt Professional is keeping companies relevant in a rapidly changing world

By Maureen Mirabito | March 24, 2023

Apt Professional: engineering and sciences professional who keep companies relevant in exchange for autonomy, flexibility, and competitive pay.

The Apt Professional:

Apt: skilled, happy, flexible, relevant, fitting

Apt Professional: a person with in-demand skills and capabilities in engineering and sciences who keep companies relevant for a rapidly changing world in exchange for autonomy, flexibility, and competitive pay.

"Actalent offers our consultants the security and care all people crave, while offering the benefits of the next evolution of the freelance economy. Highly skilled, Apt Professionals can move from project to project, picking up new skills and experiences as they evolve their career. In the end, a career is a journey, not a destination." — John Flanigan, Vice President of Strategic Operations at Actalent

Introduction

Even as the economy struggles with the aftershocks of a pandemic, supply chain issues, war, inflation, and high interest rates, the labor market remains strong. Companies continue to compete for skilled engineering and sciences talent in an economy with record-low unemployment and consistently high demand. Even before higher interest rates caused CEOs to slow hiring plans, many companies had already partnered with workforce solution providers to fill critical gaps. Considering the millions of workers who have joined the independent and contingent workforce, that strategy could pay off.

Applications for Employer Identification Numbers (EIN) have increased 40 percent since 2019
57.3 million US workers have joined the Gig Economy, which translates to 36 percent of the workforce
3.2 million workers are still missing from the workforce, according to Lightcast data
4.1 million workers quit their jobs in December 2022

The Rise of the Independent (Contingent) Worker

And what it tells us about the future of work

Today, companies aren’t just competing against other companies for talent; they’re competing against entrepreneurship: consultants, contractors, freelancers—those who’ve struck out on their own.

For generations, people have wanted the freedom to choose where they work, their purpose for working, who they work with, and what they work on. The last couple of years gave many the opportunity to figure out how to make that happen. According to recent data, the gig economy has grown three times faster than the total US workforce, with approximately 36 percent of workers participating in some way. That number is expected to grow to more than 50 percent by 2027, particularly as employers and workers across all industries recognize the benefits independent workers produce and afford.

The number of independent workers in the US has surged 69% since the pandemic, source: MBO Partners, State of Independence in America 2022. And just this year compared to last, the number of independent workers rose 26% to a total 64.6 million.

Staffing Industry Analyst (SIA) defines gig work to include any contingent work of a fixed duration, such as work done by temporary workers and independent contractors grouped into the following categories:

temporary workers assigned by a staffing agency,
people working via talent platforms or work services platforms,
other independent contractors and business owners with no employees,
other temporary workers (sourced directly), and
salaried employees of consulting firms on consulting engagements with clients.

The Risks of Independent (or Gig) Work

Hustle. Independent workers are their own boss, which means they’re on the hook for finding their own work. Online platforms have made connecting consumers with skills for hire, but it still takes time and effort to set up credentials and convince a client they’ve found the perfect guy or gal for the gig. That part of the work never turns off: as soon as one gig is landed, the hunt for the next one begins.
Unpredictable income. Unlike working a traditional job, pay in the gig economy can be erratic at first. Some weeks are feast, some might be famine. There is no shortage of discipline as a gig worker—discipline over time, hustle, and money.
No benefits. In exchange for freedom and flexibility over how, when, and where work happens, gig workers often give up access to company sponsored health insurance, paid vacations, and retirement plans. That doesn’t mean there aren’t options for securing these perks, there are. But it will require time and effort to set up.
Compartmentalization. Often, gig workers are known for one thing, which can limit career growth, and depending on the worker, get stale.

Comparison of Benefits versus Risk for Actalent Consultants/Apt Professionals and Independent/Gig Workers

	Flexibility*	Variety*	Career Coaching/ Advisement*	Consistent Income*	Career Growth*	Hustle*	Benefits*	High Output Production*
Actalent Consultant/Apt Professional	x	x	x	x	x		x	x
Independent/Freelance Worker	x	x				x		x

_{^{*Table definitions provided in dark blue call-out}}

Working as an Apt Professional is a great fit for engineering and sciences professionals looking to do meaningful work, and who desire variety in the projects they work on and flexibility in how and where their work gets done. Actalent is a perfect fit those looking to build a career as well as those who’ve recently retired from one but still want to generate income and contribute their skills and expertise to important work that makes a difference in the lives of others.

The main takeaways:

work has undergone a fundamental shift
the labor shortage will continue, likely worsen
generational and industry-related differences (e.g., those jobs that require on-site workers versus those that support remote/hybrid work) will continue to reshape traditional employment
technological advancements and lower college enrollments will require agile and on-demand skill development

But people will always want to work, they will always want to contribute, they will always be in search of a purpose. The employment landscape isn’t ending, it’s shifting. The choice for companies looking to remain relevant in a rapidly changing world isn’t whether they’ll participate, it’s how.

Table Definitions

Flexibility: Opportunity to determine how, where, and when work is completed

Variety: Opportunity to work on different projects with different clients

Career Coaching/Advisement: Skills, interests, and work preferences are matched to opportunities by a recruiter/career advisor

Consistent Income: Weekly pay

Career Growth: Offered opportunities to develop new skills and gain experiences that track with career goals

Hustle: Constantly working to seek the next opportunity

Benefits: Paid leave, retirement, health insurance

High Output Production: Highly motivated to produce because internal and external needs are met