The biotech sector in Europe is experiencing remarkable growth, driven by the need for innovative solutions and advancements in the life sciences field. However, the sector faces challenges in hiring top talent and bridging the skills gap. In this article, we will explore the emerging skills required in the biotech industry, examine the hiring landscape, and discuss talent acquisition strategies implemented to attract and retain skilled professionals.
Emerging Skills in Biotech: The biotech industry demands a range of emerging skills to drive scientific breakthroughs and contribute to advancements in healthcare. Recognising the critical non-technical skills, vital for success, key attributes include project management, change management and leadership, education management, and communication skills. Manufacturers recognise the importance of innovation skills, with 72% ranking it as the most crucial additional skill for achieving sustainable manufacturing.
Technical skills that will see increased demand in the biotech sector include gene editing technologies, precision medicine, bioinformatics, and synthetic biology.
Hiring Landscape and Talent Acquisition Strategies: The biotech sector in Europe faces the challenge of a skills shortage, impeding its progress. Up to 70% of digital leaders in the field state that a skills shortage prevents them from keeping up with the pace of change, the highest reported since we started reporting 24 years ago. Additionally, rising living costs have made salary demands unsustainable for many professionals.
However, amidst these challenges, remote working has emerged as a positive aspect, enabling organisations to recruit talent from across the globe. The talent market is now more globalised, offering opportunities to access a broader pool of qualified candidates. The value of Europe’s biotech start-ups ecosystem has been rapidly increasing, showcasing its potential for growth and innovation.
To address the skills gap and attract top talent in biotech, talent acquisition strategies focus on several key aspects:
- Enhancing Biotech Skills: Governments and organisations are investing in initiatives to develop and enhance biotech skills through training programs, certifications, and collaborations with educational institutions. These efforts aim to foster a talent pool equipped with the necessary expertise to drive advancements in the field.
- Promoting Leadership in Biotech: Effective leadership and management skills are crucial for the growth of the biotech sector. Organisations seek professionals with management expertise to lead teams, drive innovation, and navigate the complex regulatory landscape.
- Collaboration with Educational Institutions: Organisations collaborate with educational institutions to bridge the skills gap by providing input on curriculum development, offering internships, and sponsoring research projects. These partnerships ensure that graduates possess the technical and non-technical skills required for success in the biotech industry.
- Investing in Upskilling and Reskilling: Companies invest in upskilling and reskilling programs to address the mismatch between industry needs and available skills. By empowering their existing workforce with additional biotech competencies, organisations can enhance productivity and drive innovation.
- Creating an Attractive Biotech Ecosystem: Organisations actively work to improve the perception of the biotech sector and its career opportunities. Employer branding efforts highlight the industry’s purpose-driven nature, the potential for scientific breakthroughs, and the impact on improving human health and well-being.
The biotech sector in Europe presents immense opportunities for growth and innovation. To fully leverage this potential, addressing the skills shortage is essential. Talent acquisition strategies in biotech involve enhancing skills, promoting leadership, collaborating with educational institutions, investing in upskilling, and creating an attractive industry ecosystem. By implementing these strategies and attracting top talent, Europe’s biotech industry can continue to drive scientific advancements and contribute to improving healthcare outcomes.
