Chief Healthcare Executive: talent scarcity worries life sciences and pharma.

July 18, 2022 Mike Smith

The skills gap in the life sciences and pharma industries is a top concern for C-Suite leaders in the sector. Around one-third of the respondents in Randstad Sourceright’s 2022 Talent Trends survey cite talent scarcity as a serious problem.

Of the leaders surveyed, 67% are investing in training and development in an effort to keep workers interested and engaged. Over 50% are putting money into reskilling to further combat talent scarcity. The majority (77%) agree that finding and keeping talent is top priority.

However, one hiring strategy being downplayed within the sector is a focus on diversity, equity and inclusion (DEI). In fact, life sciences and pharma leaders emphasized DEI efforts the least when compared with other sectors. Given the already limited talent pool available, this oversight can exacerbate the problem. 

“Failing to win the race for those skills will be costly, but a strong focus on the talent experience — offering purposeful workplace culture, maximizing flexibility, and investing in diversity, equity and inclusion —– can help companies stand out,” says Mike Smith, global CEO of Randstad Sourceright.

See additional data points from the report in Chief Healthcare Executive and get your report to discover the four Talent Trends life sciences and pharma leaders need to act on now.

About the Author

Mike Smith

With a 16-year career at Randstad, Mike Smith brings a wealth of experience in the talent acquisition industry to his role as Randstad Sourceright global CEO. Smith joined Randstad in January 2005 as a graduate recruitment executive and has since held various operational and leadership roles for Randstad including managing Randstad’s business operations in Australia, managing director for Southeast Asia, CEO of Randstad UK and managing director of Randstad Sourceright in Europe, the Middle East and Africa. An active driver of Randstad’s “tech and touch” strategy, in his role as CEO, Smith continues to elevate Randstad Sourceright's customer value propositions, seek out ongoing areas for differentiation and embed change through investment in business transformation technology.

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