(CHICAGO, IL – October 27, 2022) – Medix, a national leader in workforce solutions and recruiting, released the Medix Workforce Trends Report, which examines healthcare, technology, and life sciences workforce trends ahead of, during, and after the pandemic. The report finds that, despite the volatility of the last few years, each sector is experiencing compound job growth, but overcoming new hiring challenges will demand agility.
“Navigating today’s complex hiring market requires a multi-faceted approach,” said Andrew Limouris, President and CEO of Medix. “Employers must assess talent experience, embrace flexible workplace options, understand market dynamics, and strategically leverage the contingent workforce. Together, these approaches will drive talent attraction and retention.”
While each sector faces unique challenges and opportunities, the report reveals key trends across all three industries including demand trends and pay rate shifts, along with future outlooks:
- Healthcare: It’s no surprise that the healthcare industry has been one of the hardest-hit industries since the pandemic began. Navigating increased demand, staffing shortages, and rapid turnover has left those in the healthcare industry with unprecedented challenges. Medix data shows that while contingent healthcare job openings surged by a remarkable 98.8% from 2020 to 2021, job opening growth has since returned to a more normalized growth rate of 1.6%. Data also shows that contingent healthcare pay experienced its largest rate jump of 10% from 2021 to 2022.
- Technology: While other industries showed considerable growth in job openings during the pandemic, contingent job growth in technology initially shrunk from 22.7% to 21.1% from 2020 to 2021. Despite that, data reveals an 11.2% compound annual growth rate in contingent technology job openings from 2018 to 2022. And even in the midst of layoffs and hiring freezes in 2022, pay for the technology sector rose 25% over 2021 rates.
- Life Sciences: Medix has seen an intense demand for contingent talent across the life sciences industry over the last four years. This sector was essential during the height of the pandemic and continues to see growth. Most notably, the life sciences industry saw a 16.9% increase in time on assignment from 2021 to 2022. This is evidence of growing demand and a skills gap across the industry. Additionally, 2021 pay growth rates doubled to 15.9% over the combined 2018 to 2020 numbers. Over the last year however that growth calmed considerably with only a 1.9% increase.
The Medix Workforce Trends Report compiled proprietary data from 2018 to 2022 YTD through 34 weeks of each year. Job openings, pay rate, and positional data were collected across 2,457 clients, 18,499 unique placements, and 162 positions.
Medix positively impacts lives and businesses by providing healthcare, life sciences, technology, and engineering talent solutions to businesses and government institutions. Our national reach, decades of industry expertise, and nimble talent engine have made us a trusted talent partner to hiring managers and HR teams at hospital systems, Fortune 500 firms, fast-growing startups, and industry disruptors.
Headquartered in Chicago and with offices across the U.S., Medix is not your typical staffing company. All for people and values led, we are different because we listen when others are selling. We improvise when others are inflexible. And, when the going gets tough, we always choose people. Discover the difference at www.medixteam.com.