The contingent workforce is about to skyrocket — here’s what you need to know

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Eightfold AI insights predict a significant increase in global contingent workforce participation in 2023, positively impacting DEI goals Contingent work arrangements will bring relief to the tight labor market New solutions are needed to develop an elastic talent strategy to include contingent workers

Contingent workers — freelancers, consultants, contractors, no matter what you call them — are going to become an even more essential part of everyone’s workforces around the world. This year alone, the contingent workforce is projected to grow by 53 percent worldwide, according to our latest talent insights. 

The news that this part of the workforce is growing should come as no surprise. According to McKinsey, 36 percent of the workforce self-identifies as independent workers. But several factors — economic uncertainty, layoffs, and the move toward aligning skills to work — contribute to this workforce’s growth in hyperdrive. 

Powered by the largest global talent data set, our Chief Economist Sania Khan took a closer look at the contingent workforce data. While this vital part of every workforce is set to grow, she said that this expansion will also positively impact the global economy. 

How? While some industries are facing serious talent shortages, others are

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