Predicted Life Science Recruitment Trends of 2024
To continue to thrive within the life science talent landscape, it’s important to keep your finger on the pulse of any growing trends that could impact recruitment within life science. Although it’s impossible to know exactly what to expect in the year to come. We can make some educated predictions by looking at recent shifts within our industry.
Based on our research, the following trends will have the greatest impact on life science recruitment in 2024.
The Pull Back on Remote Working
Over the last couple of years, we saw a lot of businesses adapt to the remote working environment as a direct result of the pandemic. And, people have grown accustomed to a higher level of work/life balance. However, with remote working being in place for over a year now, we’ve been able to see a direct decrease in company culture as a result. This has led companies to start bringing people back into the office – which has had mixed reviews from employees.
What we’re likely to see in 2024 is an increase in the hybrid working model, where employers fight to find the balance between company culture and workplace flexibility. However, with remote working offering access to a much wider range of skill sets, it will still have its place within many organisations.
AI for Process, Humans for Delivery
Artificial intelligence is rapidly transforming the life sciences industry, impacting jobs across various sectors. While some fear widespread job displacement, AI is more likely to augment and redefine existing roles rather than outright replace them.
For example, Drug discovery and development. AI algorithms can analyse vast amounts of genomic and phenotypic data to identify promising drug targets, predict drug efficacy and toxicity, and design personalised therapies. This streamlines the research process, potentially reducing the time and cost of drug development. However, AI won’t replace medicinal chemists or clinical researchers, it will become an essential tool in their arsenal. What it will impact, however, is the skill sets and experience needed from new hires. With AI knowledge set to become an essential requirement.
Despite seeing a lot of layoffs last year, we’re still in a tight talent market with a noticeable skill shortage. Companies will need to attract, not just recruit. Creating a strong candidate experience will be essential, with businesses focusing on transparent application processes, quick communication, and personalised feedback. For example, we’ve seen an increase in video interviews, gamified assessments, and post-application check-ins. My main take away is to make candidates feel valued, or risk losing them to more engaged competitors.
D&I in Practice
Diversity and Inclusion are moving from a desirable to a necessary policy for companies to engage in, with actionable priorities expected by job seekers. Companies will actively seek talent from underrepresented groups, creating inclusive workplaces that foster belonging and celebrate differences. Expect bias-free recruitment practices, diverse interview panels, and a zero-tolerance approach to discrimination.
Rising tensions between nations may tighten regulations on skilled worker movement, impacting the flow of talent across borders. This could create regional talent shortages for specific expertise, requiring recruiters to adopt creative sourcing strategies and focus on upskilling local workforces.
Geopolitical instability could also disrupt the flow of critical materials and equipment used in research and manufacturing. This could lead to delays in clinical trials, drug development, and production, affecting hiring needs within specific companies.
Navigating the complex interplay of geopolitical trends in 2024 will demand agility, adaptability, and a deep understanding of the evolving global landscape for life science professionals.
To succeed in 2024, it’s important to stay adaptable, embrace change, and prioritize the human connection.