Shaping the future of Life Sciences: Best practices and strategies to retain top talent
In the competitive landscape of life sciences, attracting and retaining top STEM talent is paramount for success. A recent webinar hosted by SRG and New Scientist explored crucial insights from our 2024 Global Talent Trends & Insights Report, based on feedback from over 4,000 professionals across the UK, US, and Europe.
Our expert panel, featuring industry leaders including Philippa Clark, Justin Mullins, Patrick Stedman, and Tracy Monsour, discussed pressing challenges and innovative strategies for the recruitment and retention of skilled talent in an ever-evolving STEM sector.
Key Highlights
Workplace Culture vs. Salary
Contrary to what many think, offering higher salaries isn’t enough. Companies must adopt a culture where employees feel valued and engaged, alongside providing attractive benefits. The report indicates that 62% of STEM professionals prioritise factors such as workplace diversity and inclusivity over higher wages.
“There is pressure to do more with less, but there is a real focus on that speed of getting innovation to market as soon as possible. And I really do feel that now more than ever leaders must demonstrate a real level of adaptability and flexibility in everything that they're doing,” according to Philippa Clark, Senior Client Manager with SRG in the UK.
Addressing Talent Shortages
As life sciences companies rebound from COVID-19, there is a pressing need for agile recruitment strategies to address the increasing demand for talent. Stedman pointed out that many professionals are planning job changes, highlighting the urgency for employers to enhance their value propositions.
The Role of AI
The integration of artificial intelligence is transforming the life sciences sector. Monsour highlighted the importance of upskilling and reskilling to keep pace with AI advancements, stressing that adaptability and critical thinking are essential skills for the future workforce.
For more in-depth insights, download the full 2024 Talent Trends & Insights Report and watch the complete discussion to learn how to navigate the challenges of talent acquisition in the life sciences industry.
