Contingent Hiring Exceeds Pre-Pandemic Levels, Report Says

Contingent hiring now exceeds pre-pandemic levels, according to research released by VMS and MSP firm PRO Unlimited. On average, organizations reported hiring increased 20% in the first quarter of 2021 compared to the first quarter of 2019.

Between March and December 2020, many processes were disrupted and exhibited spikes or dips well outside their normal variance, according to the report. However, this volatility largely stabilized in 2021, reflecting a return to normal in this area of contingent hiring.

Figures vary widely across industry, however, with healthcare hiring currently approximately 147% of pre-Covid levels, while life sciences sits at roughly 83%, PRO’s quarterly Labor Market Report found.

“With the expansion of remote work opportunities and a tightening of workforce supply, the battle for talent is top of mind for most business leaders, especially as new ways to attract talent are evolving and companies are expanding initiatives within technology and diversity, equity and inclusion,” said Dustin Burgess, senior VP – NorthStar HCM at PRO Unlimited.

Analyzing pay rates by sector in this year’s first quarter, technology pay rates had decreased for the first time since the pandemic occurred and healthcare rates were still on the rise. In the second quarter, the report found technology’s pay rates staying at the same level as the first quarter and healthcare pay rates returning to pre-pandemic levels.

Despite the second-quarter dip, healthcare pay rates have still grown the most of any sector since 2018, with this year’s first quarter having the highest peak in average pay rate. Pay rates for IT jobs in healthcare have increased 26% since Q1 2019 (pre- pandemic), demonstrating a move toward digital transformation in the sector.

PRO Unlimited provides MSP services and offers a vendor management system as well as payrolling and independent contractor compliance services. The report leverages data across a variety of internal and external data sources, including hundreds of client programs globally.

Original Article: https://www2.staffingindustry.com/Editorial/Daily-News/Contingent-hiring-exceeds-pre-pandemic-levels-report-says-58927