Skills crisis looming in pharma, says report
pharmafile | June 6, 2014 | News story | Medical Communications, Research and Development, Sales and Marketing | Jobs, career, life sciences, medcity, pharma, skills
More than half of life sciences employers expect to face a serious shortage of experienced job applicants in the coming 12 months, according to new research.
The report, which also finds that more than one-third of those surveyed expect candidates to lack necessary qualifications over the same period, was published by UK recruitment firm Hays.
“The pharmaceutical industry and government need to take the long view, and do something to resolve the professional skills shortage now facing us,” says Hays director Mark Weller.
Weller warns that as demand for greater value and cost-effectiveness in healthcare grows, more scientists and engineers will be needed – meaning policy-makers must “think ahead about where this talent will come from”.
He suggests that there is a need to build talent from the earliest possible stages, and advocates the introduction of subjects such as coding at primary school level to help foster better tech fluency.
Despite the concerns voiced by Weller, the UK life sciences industry has been having a relatively good year so far – at least in terms of funding and government attention.
April saw the launch of MedCity, an initiative aimed at strengthening links between elite medical institutions in London, Cambridge and Oxford, as well as building a global research brand with a view to attracting industry investment.
Shortly afterwards, the British government formally established the Office for Life Sciences, a collaboration by the Department of Health and the Department for Business, Innovation & Skills to “make the UK the best place to invest in life sciences research”.
And in May, venture capital firm Epidarex Capital raised a fund of nearly £50 million to help establish more early-stage life sciences companies in the UK, with investors including Eli Lilly and the European Investment Fund.
However, the Hays report highlights the fact that in addition to financial investment, the industry needs a top quality workforce to excel.
Commenting on the research, MedCity chief operating officer Sarah Haywood says: “Life sciences is an area of growth, but it relies on great people to power it forward, and particularly people who understand that the future of healthcare lies in agile cross-sector and cross-disciplinary working.
“In an international competition for talent, we particularly need to do everything we can to keep our experienced entrepreneurs, who have run successful companies and know what it takes to turn a great idea into a thriving business.”
According to UK government statistics, the life sciences industry in Britain generates an annual turnover of over £52 billion and employs around 176,000 people.
Hugh McCafferty
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