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Home » Press » The Wall Street Journal Examines the Continuing Rise of High-End
Contract Work
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THE WALL STREET JOURNAL EXAMINES THE CONTINUING RISE OF HIGH-END CONTRACT WORK
Rachel Halversen
Already on the rise before the COVID-19 pandemic began, high-end contract work
has only become more enticing for an increasing number of highly specialized
professionals. These in-demand thinkers and doers are finding that independent
consulting offers more control over their hours, locations, and the type of
projects they take on—resulting in high salaries, increased flexibility, and
greater fulfillment, according to a new article from The Wall Street Journal on
the booming independent consulting market featuring insights from Jody
Greenstone Miller, Co-Founder and Co-CEO of Business Talent Group (BTG).
WHY TALENT ARE TURNING TO INDEPENDENT WORK
Krish Venkata, a healthcare process-management expert and member of the BTG
talent network, enjoys both the professional development opportunities and
earning potential that independent consulting presents. “[Venkata] says the
consistently steep learning curve of new clients and new projects suits him.
[He] now earns twice what he was making before in a full-time job, only now he
works on one or two three-month-long projects at a time.”
For a majority of independent talent, the key motivators for switching to
contract work are control and flexibility, which are being enabled more and more
by the widespread adoption of remote work arrangements during the pandemic. BTG
has tracked this trend extensively, with Miller stating that 90% of projects
requested by our clients are now being performed completely remotely—a nearly
180° shift from pre-pandemic times when 80% of projects had an in-person
component.
UNDERSTANDING BOTH SIDES OF THE EQUATION IS ESSENTIAL
This shift to remote work has opened up a significantly broader talent pool for
companies as they struggle to hire all the full-time staff they need. But as
clients increasingly realize the value of staffing projects with the
best-fitting talent—regardless of where they are in the world—their expectations
are rising in turn.
“[As an independent talent] you have to continue to prove yourself, and you also
have to be able to walk into an org and be effective really fast,” Miller says.
INDEPENDENT PROFESSIONALS ARE EARNING MORE IN LESS TIME
Brad Roller—an independent consultant in BTG’s network who focuses on product
strategy and project leadership—says his experience mirrors the primary
motivators for other talent. “I kind of decided I never wanted work to get in
the way of taking my girls to soccer practice,” says Roller. He bills around 40
hours each week, arranging his schedule so that he can drop off his 6- and
9-year-old daughters at school and be at soccer games in the late afternoon. He
also builds in downtime between projects, but despite working less, he expects
to ultimately earn more this year than he did in his previous position as a
management consultant at a traditional firm by taking on the work independently
with significantly lower overhead expenses.
HIGHLY SKILLED TALENT WITH NICHE EXPERTISE ARE CERTAINLY SOUGHT AFTER
By providing fast, flexible access to in-demand skills and expertise, the
independent talent market has established itself as an indispensable piece of
human capital infrastructure for top companies. According to BTG’s proprietary
data, the skills most requested by business leaders seeking high-end gig workers
include project management, market landscape and research, organizational design
and workforce planning.
Read more at The Wall Street Journal, or check out BTG’s 2022 High End
Independent Talent Report to see more in-demand skills and project types, as
well as how leaders across 12 industries and 12 business functions are using
independent talent to fuel growth and operational excellence amid continuing
uncertainty and labor shortages.
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