This article discusses the latest trends in transformation of employment in the context of transition to innovative technologies in the modern world. Unlike traditional employment, innovative employment involves flexible working conditions to satisfy a variety of customers, part time employment, a shift in the employees interests towards self-expression and stimulation of creative thinking. The innovative development of the economy involves the emergence of new non-standard forms of employment, each of which has its own characteristics and rationality of application. An influence of the innovative economy on the labor market is considered. The tendencies and challenges of the employment transformation are assessed.