How to attract and retain talent in the life sciences industry in 2023

The Covid-19 crisis showcased the speed and strength of the life sciences sector in the UK and Ireland, shining a light on world-class contributions across technology, medicine, and research. Three years on, investment and innovation within the industry continue to accelerate – and the demand for skilled professionals has never been higher.

The Covid-19 crisis showcased the speed and strength of the life sciences sector in the UK and Ireland, shining a light on world-class contributions across technology, medicine, and research. Three years on, investment and innovation within the industry continue to accelerate – and the demand for skilled professionals has never been higher.

2023 will be defined by a race to attract and retain top talent. A shortage of workers in critical areas such as data science, bioinformatics, and drug development has forced employers to source candidates from the same restricted pool. Faced with high turnover rates and pressure to build more diverse workforces, businesses are struggling to keep employees on board, while keeping pace with the industry’s rapid advancements.

Organisations that remain agile and adapt to emerging trends will take the lead in attracting and retaining talent. That means refining hiring processes around evolving candidate expectations and shaping career pathways and development opportunities applicants won’t find elsewhere.

Trends and changes that are likely to impact life sciences talent attraction and retention in 2023 include:

  • Artificial intelligence and automation — In a sector fuelled by evolution and invention, organisations investing in AI and automation can offer an open door to cutting-edge projects. Giving current and potential employees the freedom to shape the future helps ensure long-term loyalty.

  • Industry consolidation — Further mergers and buy-outs could lead to increased competition between remaining industry names. This is where a compelling employer brand, supportive culture, and inspiring progression plans can set your business apart.

  • Attracting diverse talent — Building diversity and representation of underrepresented groups within the life sciences industry is becoming increasingly important. More than ever, your commitment to diversity, equity, and inclusion is a key consideration for candidates.

Branding the benefits of your business

Life sciences is a fast-paced, future-facing sector that connects science, technology, and innovation. Working within the field means tackling national and global healthcare challenges, creating fairer societies, and providing tools that make people happier and healthier.

The chance to directly impact our quality of life is a powerful selling point for the sector and a pivotal piece of your employer brand. Alongside the industry’s USPs, consider what makes your company more attractive to potential hires – from a flexible, forward-thinking culture to people-friendly policies. Then spotlight these positives at every candidate contact point, such as job ads, social channels, and assessment days.

Intelligent ways that life sciences organisations can leverage employer branding include:

• Highlighting your mission and values

A solid set of values ensures candidates feel part of your purpose from day one. Make your mission clear, aspirational, and inclusive, so that potential and existing employees understand their role in bringing it to life.

• Showcasing your impact on society

Not every company can say they’re changing the world. To tap into candidates’ desire to make a difference, ensure your recruitment processes celebrate your work in areas such as healthcare, the environment, or social justice.

• Investing in employer branding

Promote your organisation as a place where employees feel heard and supported. Where people build rewarding careers. Where breakthroughs happen. Targeted recruitment marketing, staff referral programmes, and retention strategies can turn sought-after candidates into long-serving employees.

Attracting talent in a tight market

Without a doubt, competitive pay is a decisive pull factor for candidates within the life sciences industry – but it’s not the only draw for today’s in-demand applicants. If you’re unable to match the sector’s highest salaries, push your organisation’s non-financial perks instead. Can you offer speedier advancement, a better work/life balance, or a stake in your start-up?

A candidate-driven market demands creativity – like tapping into your ready-made recruitment network or using attention-grabbing marketing to turn the heads of future hires. Here are a few quick wins for the current conditions:

• Referral programmes

Transform your team into recruiters by offering incentives to current employees who recommend friends and colleagues for live vacancies.

• Recruitment marketing

Create a buzz around your employer brand by highlighting your mission, values, culture, and opportunities for growth and development. Help candidates visualise their place on your team with inclusive recruitment processes, authentic staff testimonials, and engaging ‘behind-the-curtain’ content.

• Competitive compensation and benefits

Conduct regular salary surveys to ensure you’re paying on par with your competitors and consider a blend of benefits – such as private health insurance, pensions, and family-friendly working practices – that align with candidates’ current wish lists.

Retaining employees through positive engagement

Staff engagement is critical for holding onto top talent, and organisations that create a culture of involvement, inclusivity, and innovation are more likely to retain their teams for the long term. Employees in the life sciences industry are often motivated by fast-track promotion opportunities, professional development, and access to leading-edge projects.

To prevent staff from pursuing roles outside your organisation, give them the freedom to grow within it. Provide clear advancement paths from the early career stage and give workers the power to design and deliver on their professional goals. Life sciences organisations can foster employee engagement and create career-long commitment through a variety of best practice approaches, including:

• Empowerment

Give employees a strong voice by involving them in important decision-making processes and granting them autonomy in their work. Actively encourage sharing ideas and provide meaningful platforms for feedback, new initiatives, and two-way communication.

• Transparent leadership

Trust is critical to staff retention, so lead with clarity and honesty. Provide regular, transparent updates about the compan’s goals, plans, and performance to increase employees’ engagement, understanding, and motivation.

• Growth opportunities

Trust is critical to staff retention, so lead with clarity and honesty. Provide regular, transparent updates about the compan’s goals, plans, and performance to increase employees’ engagement, understanding, and motivation.

Speak to a life sciences recruitment specialist

Adecco’s life sciences recruitment experts create successful attraction and retention solutions for businesses of all sizes. We have a robust offering that includes early in careers programmes, social impact initiatives, and training academies. For tailored guidance on how we can support you with your recruitment goals and challenges, get in touch with us today.

For more information about the trends impacting the labour market in 2023, download your copy of the Adecco Labour Market Outlook.


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