6 Key Stats That Show the Changing Dynamics of the Modern Professional Services Workforce

The professional services industry is undergoing a radical and permanent transformation, with people demonstrating they want more agency over their workloads and professional development and taking life-changing steps to realize their goals. 

As seen in new research from Kantata, these changes have had sweeping impacts on the way the professional services workforce operates, as well as on the day-to-day realities of the business leaders who are trying to retain and hire the best talent in the industry but are struggling to keep up with the shifting expectations of their people.

Kantata commissioned Atomik Research to survey 1,502 services industry professionals  – 502 senior leaders, 500 full-time employees, and 500 independent contractors/freelancers – for our new in-depth research report, “The Changing Dynamics of the Modern Workforce – An In-Depth Look at the Professional Services Industry.” These findings paint a picture of frustration among leaders, full-time employees, and contractors, who don’t always see eye-to-eye; but also reveal several steps leaders can take to reduce churn, strengthen client relationships, and accelerate growth. 

Insights Into the Shifting World of Professional Services Work

The Great Resignation phenomenon has received a great deal of attention from media, analysts, and business leaders over the last couple of years. But among services industry professionals, the story isn’t one of people leaving their full-time jobs to travel the world or pursue their passion projects. Instead, people are reshaping their roles within the professional services industry, following paths paved by the embrace of remote work and the new technologies that enable it – for some that means working full-time for a new employer, but for many it means embracing independence and entering the contractor workforce.

Here are a few of the major insights Kantata found in our research that we believe are reshaping the business world and the way people are structuring both their careers and their companies:

• 76% of independent contractors we surveyed say they were full-time employees just one year ago. 
• 43% of full-time employees say they have considered becoming an independent contractor or freelancer
• 61% of senior leadership say they spend at least a third of their time each day trying to solve employee turnover issues
• 53% of senior leadership admit they have a problem hiring full-time employees.
• 32% of surveyed FTEs claim they are not sure, or they do not believe, senior leadership prioritizes employees’ professional growth.
• Only 51% of independent contractors say they would rate their company’s onboarding process as effective, a sharp contrast with business leaders and FTEs (83% and 77% respectively).

These insights from Kantata’s research highlight how enticing the allure of a career in the contractor workforce is becoming, and the impacts that is having on senior leaders, who need to commit to proactive strategies that ensure  their businesses are able to meet the demands of today’s flexible workforce.

Understanding The Changing Dynamics of the Modern Workforce

In order to retain and grow the valued talent network that drives success at your business, you need to understand the workforce trends that are reshaping the professional services industry. To learn more, check out our full study which presents the findings of Kantata’s new research, “The Changing Dynamics of the Modern Workforce – An In-Depth Look at the Professional Services Industry.”