The past two years have been difficult for everyone, and the COVID-19 pandemic has had a major effect on practically every industry and sector out there - with life science companies being no exception. And with the general job market having experienced such seismic shifts as the Great Resignation, it's worth taking a look at the latest recruiting trends in the life science industry.
1. Continued Hiring Resilience
In the past two decades, the life science industry usually represented a more stable sector than others - particularly in the midst of economic recessions. And while that notion has held firm during the burst of the dot-com bubble and the 2008 housing crisis, the COVID-19 pandemic would be the biggest test of the resilience of life sciences companies yet.
However, despite the social distancing measures and economic shutdowns that caused the recession, as well as the other issues caused by the global pandemic: the life sciences industry continued hiring when no one else did.
In fact, the life science industry's employment base grew by 1.4% in 2020 - which is the year when the wider private sector shrunk by 5%. And that means life science recruitment specialists will have their hands full when the economy fully gets back on track as well.
2. Artificial Intelligence Engineers
The near future will likely see more artificial intelligence experts and software engineers being hired by biomedical engineering companies. Even today, AI has matured enough to make major contributions to life sciences. In the past 20 years, the number of yearly life sciences publications centered on AI research has grown from practically 0 to over 3000.
Artificial intelligence, especially machine learning, has already become a crucial tool in various clinical trials - and AI-powered mobile devices have also improved various aspects of disease treatment and diagnostics. So, the demand for this type of expertise in life sciences companies will only grow in the future.
3. ESG Advisors
According to the latest research from Deloitte, life science companies will deal with new global standards and enhanced disclosures in 2022; ESG (Environmental, social, and governance) is becoming front-and-center for investors and key stakeholders in all companies across the board.
By the end of this decade, most companies will have to contribute their share to the fight against climate change by developing in-depth environmental strategies with one common goal: lowering everyone's carbon footprint. And a substantial number of major life science companies and organizations have made public commitments to do the same already - so ESG advisors and consultants will be in demand for some time.
4. Digitization Specialists
According to a large number of biopharma executives, one of the most important processes - both in the short and long term - for their companies is digitization. From commercial processes and human resources to R&D and supply chain logistics, every aspect of life science organizations is slowly being overhauled through digital technologies.
While this process was sped up by the pandemic and the sudden need for remote collaboration - and collaboration with other companies - most biopharma key decision-makers agree that digitization of their operations will keep happening even after the pandemic. The life science industry is working hard to catch up with retail, finance, and other industries that have already been operating in the digital space for years.
5. Data Analytics Experts
The digitization of medicine, the advances in wearable devices, and the growth of the personalized medicine market have all made data as valuable in life sciences as it is anywhere else. Biopharmaceutical companies are leading the way with brand new technologies like advanced gene testing and gathering more valuable and detailed information about their patients than ever before.
By the beginning of the previous decade, the United States healthcare industry had generated over 150 exabytes of raw data. And that number has only gone up in the meantime - making data analytics experts indispensable for life sciences companies in the future.
* This is a contributed article and this content does not necessarily represent the views of sciencetimes.com
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