Key takeaways:
- The gig economy is surging: Contractor engagements jumped 46% from 2023 to 2024 while full-time hires dropped 2%, with companies prioritizing flexible, scalable workforce solutions over permanent commitments.
- Global talent search is driven by skills shortages: Nearly half of HR leaders see skills shortages as a top threat, leading 57% of companies to plan international hiring.
- Hybrid work and premium compensation are now standard: 84% of organizations use hybrid workers, median salaries increased 4% to $74,700, with top technical roles like VP Engineering commanding $280,000.
The gig economy is accelerating. Oyster’s latest Global Hiring Trends and Impact Report shows a 46% surge in contractor engagements on its platform from 2023 to 2024, while the number of full-time hires inched down by 2%. In addition, consulting hires increased tenfold year-over-year.
The number of freelancers and contract workers is steadily increasing and is expected to include over 90 million people by 2028. Rather than committing to full-time hires, companies are increasingly seeking flexible, scalable solutions that allow them to respond quickly to changing market conditions and project-specific needs.
Tech skills shortages drive global talent search
Nearly half (48%) of HR leaders said they view skills shortages as a top business threat, leading to companies expanding searches beyond local markets to fill specialized roles.
More than half (57%) of companies intend to source talent from other countries over the next 12 months. While the Philippines, India, Canada, UK, and US remain top hiring locations, emerging markets — including Mexico (+136% increase in new hires, according to Oyster’s hiring data), Peru (+89%), and Switzerland (+88%) — are gaining momentum. In fact, 47% of new hires now come from emerging markets (up from 44% in 2023).
Tech talent is particularly in demand, with AI-related roles growing 150%. Other top hires in 2024 included software engineers and data analysts.
Senior talent is also highly sought after — 55% of new 2024 hires on Oyster’s platform were senior / mid-level positions, while only 7% were junior roles. Companies are prioritizing expertise over entry-level training.
Other key highlights from the report include:
- Hybrid work is becoming standard — 84% of organizations have at least some hybrid workers. The majority of leaders (82%) foresee workplaces becoming more flexible, and three-quarters expect workplace models to change within two years.
- Median salary increased by 4% from 2023 and is currently at $74,700 on Oyster’s platform, with the highest paying roles being VP Engineering ($280,000 median salary), Finance Director ($204,000), and Security Researcher ($201,000).
- The top-paying countries in 2024 included Switzerland ($146,000 median salary), Singapore ($128,000), and Israel ($124,000).
Implications for staffing agencies
- Expand contractor and consulting services: The 46% growth in contractor engagements and 10x growth in consulting represents the industry’s fastest-growing segment. Agencies without robust contract placement capabilities risk losing significant market share.
- Develop emerging market capabilities: Companies are increasingly hiring globally, not just for cost savings but for access to specialized skills. Agencies should evaluate opportunities in high-growth markets.
- Focus on senior-level technical placements: With 55% of new hires targeting senior / mid-level positions and premium salaries for technical roles, this segment offers the highest margins and strongest client relationships.
- Build AI and advanced technology specialization: The 150% growth in AI-related roles, combined with premium compensation, makes this a critical area for specialization. Agencies should develop expertise in AI, cybersecurity, and advanced engineering disciplines.
- Offer comprehensive global solutions: As hybrid work becomes standard and geographic barriers dissolve, clients need partners who can source talent globally while navigating complex international employment requirements.
Despite all the talk of technology, global markets, and new business models, the staffing industry remains fundamentally about people. The most important trend may be the growing recognition that talent is truly global, diverse, and capable of contributing value regardless of location or traditional credentials.
Download Oyster’s 2025 Global Hiring Trends and Impact Report for more insights.
