Why Hiring In Biotechnology Is Becoming More Difficult?

On the basis of a report published by CBRE titled "Life Sciences Research Talent 2022," more professionals are working in Biotechnology research in the United States than there ever have been. In fact, the number of researchers working in life sciences grew by an amazing 79% from 2001 to 2021.

This shows a sharp contrast between the 8% growth of all other occupations in the U.S. during the same period. The report also states that a record number of professionals are graduating with biotech degrees. In 2020 alone, there were more than 163,000 U.S. graduates in biological and biomedical sciences–approximately double the number of graduates 15 years ago. 

Despite these promising data, CBRE states that "finding biotech research talent may prove extremely difficult." 

This is due to many professionals who have the skills to be successful in the life science sector are already employed. The report states that in April 2022, life, physical, and social science jobs had the second-lowest unemployment rate of all U.S. occupations at 0.6%.

On the other hand, this is good news for experts working in biotechnology; it presents a unique challenge to employers. After all, how can one find the right candidate when no one is applying? While there's no one method to address this issue, you can enhance your chances of finding talent by educating yourself about the state of the hiring market. 

Research Candidates Most Difficult to Find

CBRE's report states that those in research roles, such as biochemists, biological scientists, chemists, and skilled laboratory support staff, have experienced upsurging demand over the past decade, particularly since the start of the COVID-19 pandemic. 

When the Biotech industry experienced such rapid growth, companies needed researchers to help them in creating new drugs and therapies. Resulting in unemployment in this sector plummeted. 

The good news is that the speed of Biotech graduates is maintaining the rising demand. In fact, 2020 saw the highest number of U.S. degrees and certificates ever conferred in biological and biomedical sciences. As a result, various organizations have shifted their recruitment efforts to recent graduates. Still, a large majority of these graduates have little working experience, meaning recruiters will most likely have more success hiring for entry-level research positions than senior-level positions.

How and Where to Find Talent

Because of the wide range of opportunities and choices available to job seekers, employers have to upgrade their game if they want to remain competitive. According to a survey conducted by CBRE, “researchers are placing an increasing emphasis on a company’s vision and mission to make a difference in patient lives.” 

This signifies that if you want to attract top talent, you have to ensure your company has solid values and provide proof that your work goes with those values. Simply stating that you want to help isn’t enough–capable employees will need proof that you take action to provide help and aid to the communities you serve. 

In addition, where your company is located directly impacts to the type and number of candidates who apply. Unsurprisingly, the report states that “the most research talent exists along the U.S. East Coast stretching from Boston/Cambridge to Raleigh-Durham as well as the West Coast, anchored by the San Francisco Bay Area.” 

Because these locations are familiar hubs for pharma and Biotech companies, these locations would be the best places to look for top talent. Even so, there is still hope for companies not located in such areas, as there are growing pools of fresh talent across the country. 

If you feel you’ve done everything you can do and you’re still not finding the right job seekers, you may have to be willing to facilitate more training than you have in the past. Because the pool of Biotech graduates is promptly surging, some candidates who apply may not have the experience essential for more advanced roles. 

Even so, many recent graduates would jump at the chance to receive more advanced training, and you may prefer such candidates over others who may have picked up some undesirable habits in earlier roles. 

Though hiring research candidates may be more difficult, it’s still doable–you may have to try another approach.

Biostaffic- Your partner in finding the right candidate in the Biotech field

Relax; you must be worried after reading this article, no need to worry. Just take a deep breath. Biostaffic is one of the best Biotechnology job portals, and we bring the best of the candidates from all over the World. If you are an organization tired of looking for the perfect candidate to become an asset for your organization, we have your back. Leave this to us, and we will refer you to the hand-picked and seasoned candidates ever while you focus on building your business. 

 

Reference: Life Sciences Research Talent 2022