New Research Shows Most Requested and Fastest Growing High-End Gig Economy Skills, Impact of COVID-19 on Fortune 1000 Talent Needs
Market Landscape & Research most in-demand skill; Product Launch the fastest growing, according to data from leading independent talent marketplace Business Talent Group
(July 23, 2020) – Business Talent Group (BTG), the leading marketplace for high-end independent talent, today released its third annual Skills Index chronicling the most sought-after on-demand consulting skills needed by top companies.
The BTG 2020 Skills Index, based on an analysis of internal data from thousands of projects initiated by Fortune 1000 clients, details both year-over-year changes in demand as well as a closer look at skill demand in the time of COVID-19. The report shows marked increases in the fields of Product Launch and Data Science and Data Engineering over a 12-month period, as well as a significant increase in demand for eCommerce and Internet Strategy and Data Visualization experts as companies reacted to the effects of the pandemic.
The report points to notable trends shaping the economy at large:
- The jump of Product Launch to the top of the fastest-growing list (+1100% YOY), reflecting companies’ increased reliance on on-demand specialists to meet the fluctuating demands across the launch lifecycle, particularly in pharmaceuticals as companies develop increasingly targeted therapies requiring niche skills and expert knowledge
- The spike in demand for Data Science and Data Engineering (+1000% YOY), signaling increased adoption of big data solutions and a scarcity in the supply of full-time employees needed to fill sizeable skill gaps in these emerging fields
- A significant spike in COVID-era demand for eCommerce and Internet Strategy, Product Development, and Customer Experience and Insights as companies identify new areas to meet customer needs and shift to serving them through different, and often contactless, channels
- A rise in requests for experts in Organizational Transformation and Financial Controls, Accounting, and Audit since the outbreak of the COVID-19 pandemic to help companies adjust to the economic and workforce impacts of our new reality
Heading into 2020, many business leaders were already facing skill gaps and tapping independent talent for major digitization work and data science expertise. Facing a suddenly uncertain business environment, remote workforce, and customers sheltering in place as a result of the COVID-19 pandemic, companies have found on-demand talent to be an even more valuable resource to help fill expanding skill gaps, manage through uncertainty, move nimbly in recovery, and prepare for the post-pandemic future of work.
“As remote and distributed work becomes more normalized, companies are recognizing the depth and quality of skills and expertise in the high-end independent talent market,” said BTG Co-CEO Jody Greenstone Miller. “At a moment when more workers are entering the independent market, business leaders are increasingly discovering the unique value and perspective they bring—leading to more interesting and rewarding opportunities and creating a virtuous circle that inspires even more skilled talent to become and stay independent. Every company will need to incorporate on-demand talent into their talent strategy, and those that build this muscle now will have a real competitive advantage both during this period of uncertainty and as we emerge into a new period of growth and innovation.”
A breakdown of results from the BTG 2020 Skills Index are as follows:
Top 10 Most In-Demand Consulting Skills For 2020:
- Market Landscape and Research
- Project Management
- Process Optimization and Transformation
- Change Management
- Technology and Systems Implementation
- Organizational Design and Workforce Planning
- Market Access and Value
- Corporate and Business Unit Strategy
- Advanced Analytics
- Program Management Office (PMO)
Top 10 Fastest-Growing Skills (2020 vs. 2019)
- Product Launches (+1100%)
- Data Science and Data Engineering (+1000%)
- Clinical Operations (+900%)
- Regulatory Strategy and Submissions (+650%)
- Data Visualization (+500%)
- Customer Analytics (+500%)
- Turnaround and Restructuring (+500%)
- Global HR (+467%)
- Agile Transformation (+400%)
- Measures, Incentives, and KPIs (+400%)
Top 10 Fastest Growing Skills in the Time of COVID-19 (March-June 2020 vs. Preceding 4 Months)
- eCommerce and Internet Strategy (+425%)
- Data Visualization (+425%)
- Product Development (+350%)
- Organizational Transformation (+225%)
- Financial Controls, Accounting, and Audit (+200%)
- Crisis Management (+160%)
- Customer Experience and Insights (+160%)
- Logistics (+160%)
- Post-Merger Integration (+160%)
- Training and Leadership Development (+100%)
In addition to analyzing the trends above, the BTG 2020 Skills Index report also includes:
- The top 3 most in-demand skills within 10 industries including Life Science, Financial Services, Consumer Goods, Retail, Industrial Goods, Private Equity, and more
- How to recognize when a project is perfect for engaging independent talent remotely
- Anticipated trends and business opportunities companies should expect in the post-pandemic economic recovery period
As pioneers in the independent talent market, BTG has more than 10 years of experience delivering innovative talent solutions and proprietary data on how leading companies can best leverage independents for critical business needs—whether remote, on-site, or a hybrid mix of both. For more future of work trends, expert advice, and case studies by industry or business function, visit the BTG Business Resource Center at resources.businesstalentgroup.com
About Business Talent Group
Business Talent Group (BTG) is the leading talent platform that connects independent management consultants, subject matter experts, executives, and project managers with top companies to solve their biggest business opportunities and challenges. BTG provides just the right on-demand talent needed—remote or on-site, part-time or full-time, individuals or teams, all around the world. 50 percent of the Fortune 100 and hundreds of others trust BTG to curate, vet, and deliver legally compliant talent that fuel growth, innovation, and performance improvement. Clients include McKesson, Logitech, Hilton, and Hitachi.
For more information, visit businesstalentgroup.com and join the conversation on Twitter, LinkedIn, and Facebook.
Contact
Jennifer Napier
Senior Vice President, Marketing
Business Talent Group