The importance of freelancers in a vacancy heavy marketplace

Freelance Workforce Contributes $1.3 Trillion to the US Economy

The freelance sector is on a steep growth trajectory, with freelancers contributing $1.3 trillion to the US economy in 2021. The “Great Resignation” and a shift toward the “Expert Economy” have fueled this trend as professionals increasingly opt for freelance work. The COVID-19 pandemic accelerated this shift as hybrid and remote work eliminated many previously accepted obstacles, such as daily commutes and challenging work environments.

The Great Resignation and Its Impact on the Workforce

The Great Resignation has seen employees across various sectors leaving their jobs to explore new opportunities. While the tech and healthcare industries have been particularly affected, companies across the board now face substantial workloads with reduced staff. On the other side, a growing number of experienced professionals are moving into part-time or full-time freelancing.

An Attractive Path for PhD and Mid-Career Professionals

For highly qualified individuals, freelancing presents an appealing opportunity to monetize their expertise. As academia faces an excess of PhD-qualified professionals but limited university positions, freelancing offers a viable path. Similarly, many mid-career professionals who’ve left their jobs bring valuable industrial experience to the freelance space.

Expanding Opportunities in Science Freelancing

Science freelancing has broadened beyond traditional roles like consulting and medical writing. Professionals now take on freelance positions in areas such as product development, clinical research, secondary research, and technology transfer, making their expertise accessible to support business growth across sectors.

Remote Work Erases Geographical Barriers

With remote working as the new norm, finding the right expertise is easier than ever. Companies, regardless of size, can access a global talent pool. Smaller businesses gain access to top talent they might otherwise be unable to afford, helping them scale more quickly, while larger organizations benefit from this flexible workforce to supplement their staff and enhance productivity during peak times.

Rising Demand in Medical Device, Biotech, and Life Sciences

Medical device, biotech, and life science companies have expanded their budgets to hire freelance professionals. This demand spans roles from medical writing to highly specialized fields like AI, machine learning, software development, and IT security. As these industries pivot toward system automation and data-driven solutions, experts in these areas are more valuable than ever.

Recruitment Firms: The Role of Qualified Freelance Talent

The shift toward freelance staffing means that recruitment firms must also adapt. Hiring managers can be overwhelmed by the options available on freelance platforms, so recruiters who vet and qualify freelance candidates provide a much-needed assurance for companies new to hiring freelancers or looking for niche expertise.

Freelancing as a Lasting Fixture in the Post-Pandemic Marketplace

The freelance sector shows no signs of slowing down. The flexibility freelancing offers, combined with the potential for career growth, makes it a compelling option for younger generations. As more businesses lean on freelance expertise, this workforce is becoming a permanent fixture in the modern employment landscape.

Looking for Freelancers?

If you’re exploring freelance solutions or need support with your recruitment plans, reach out to us today to learn how we can help!