For the life science sector, cementing the digital skill gap translates into new treatments and approaches that deliver benefits to mankind.
FREMONT, CA: Digital technologies have the ability to transform businesses across all industry sectors, and most life sciences firms have made the bolder moves in taking advantage of these capabilities. This illustrates the multitude of benefits digital technologies can provide to this sector, including faster drug discovery and development, enhanced operational efficiency and productivity, more personalized patient experiences, and better engagement with healthcare stakeholders. This also means that portfolio and workplace strategies need to actively drive cultural shift, with digital talent acquisition and retention as an integral part of the portfolio. Here is more to know.
The increasing skills gap in the life sciences industry is clearly a concern for many industry executives. A recent survey of human capital and C-suite leaders found that for 85 percent, talent scarcity is one of their biggest challenges. The search for new treatments will need companies to seek skills in high demand today and new skills yet to be discovered.
To keep up with the demands of this growing trend, life sciences companies are seeking to employ more data scientists, analytical experts, developers, and other skilled workers it hasn't historically needed in large numbers. New digital demands, however, now bring those responsibilities front and center of many companies' business strategies.
One way in which life sciences companies are responding to their talent demands is by leveraging more contingent labor. Shifting some roles from conventional work arrangements to flexible ones opens up access to resources. By considering candidates from both permanent and temporary talent pools, life sciences, companies have a much larger pool to source from. This provides more business agility and cost efficiency, but the embrace of contingent talent also results in a faster time to hire.
Additionally, the sector needs to enhance its retention efforts. Attracting talent to join the industry remains a challenge. While research shows that workers in the sector are highly satisfied with being employed in their line of work, those outside of it are less aware of the value propositions offered by companies. This is due to the conventionally opaque work environment at these companies. Also, many life sciences companies are trying to accelerate their efforts to create a positive candidate experience.