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The Shifting Workforce Composition in Life Sciences

 
The_Shifting_Workforce_Composition_in_Life_Sciences


TODAY’S LIFE SCIENCES INDUSTRY is thriving and maturing rapidly. Business is still concentrated primarily on medical therapies and pharmaceuticals, but growth drivers extend far beyond traditional therapeutics. There have been dramatic increases in the growth of niche drugs and generics. Research is leading to dramatic technological innovation in areas of biotechnology and medical devices. Developments in assisted technologies, such as mobile health and e-health, are increasing self-sufficiency for millions of Americans. The aging population in the United States, a burgeoning demand for healthcare due to the massive influx of newly insured patients, and more holistic approaches to medicine are driving the future of life sciences.

Most life sciences executives agree that these advances are hampered by a shortage of talent with traditional skills in chemistry, microbiology, technology, and engineering. But the shortage isn’t nearly that simple and straightforward: today’s industry needs more than science. Companies are partnering more often with research organizations and academic institutions to help with R&D, so there is an increasing need for employees who can manage outside partnerships and regulatory requirements, as well as data analysis, health economics, and outcomes research.

Today’s expanding global marketplace has driven new legislation that affects business operations, and regulatory compliance concerns have led to increased oversight of workforce management. Companies no longer need just scientific professionals—they need scientists who also have people skills that help them take a multi-departmental, multinational view of business operations.


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