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The Perfect Storm: Why Contract Hiring In Privacy Will Eclipse Direct Hiring In 2024
Remote Flexibility Drives Job Seekers
The top motivator for job seekers in 2021, 2022, and 2023 was the desire to work remotely from home more often than their current employer allowed. In 2021, 75% of offers accepted required three or fewer days in an office, but 80% of that 75% were fully remote. In 2022, 87% of jobs were hybrid three days or fewer, but only 69% of those jobs were fully remote. In 2023, hybrid employment accelerated to 90% of offers accepted, but the amount of those roles that were 100% remote dropped dramatically to 32% (see Figure 1). With significantly fewer fully remote positions available in 2023, active job seekers were faced with the question of whether to begin considering compromises on work-from-home flexibility or compromise in other areas like compensation, vertical mobility, quality of life, or employment modality.
As the job market no longer produces the same volume of direct hire fully remote opportunities, job seekers in privacy are more readily considering working contract and contract-to-hire to maintain fully remote employment.
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Compliance and Third-Party Risk Management
To gauge the level of risk and uncover potential gaps, compliance and privacy leaders should collaborate to consider how often they are monitoring third parties, what intelligence they are gathering with and about their partners and vendors, and whether their risk management practices have been diminished due to cost and resource constraints.