Pharma Talent 2024: Navigating The New Normal in Recruitment Trends
The market is evergreen for the healthcare sector, but with more people prioritising their health, the industry is now growing more than ever – which also means it is changing fast.
The pharmaceutical industry is a big part of this change, especially with new technologies and healthcare methods hitting the market. Because of this reason, it is becoming increasingly difficult to find skilled workers for lucrative pharmaceutical jobs.
During the 2020 COVID-19 crisis, the healthcare systems were truly tested. Many companies have had to face staff shortages and heavy workloads, which has been a learning curve for industry leaders across the globe.
In order to find the right talent, pharmaceutical recruiters in this field have to be flexible and proactive in meeting the changing market needs, which focuses attention on lowering attrition rates.
But, how exactly?
If that question popped into your head, we have curated a comprehensive answer for you. Let’s explore some of the recruitment trends that will dominate this industry in 2024 to help you reevaluate your recruitment strategy for the long run –
Trend #1 – Improving Employer Branding and Candidate Experience
Yes, this is the current reality, and the pharmaceutical industry isn’t exempted from it. Talented candidates are no longer focusing on clearing interviews. Instead, they want to work for companies that drive their sense of purpose.
They also are acutely aware that their specialised skills are high in demand, which means they have an upper hand. A recruiter in pharmaceuticals can get through the best candidates only if they actively work on employer branding and candidate experience – two non-negotiables in making job offers stand out.
Some companies have started taking a pre-boarding approach, where new hires become part of the company culture before they officially start the job. This strategy is known to improve employee retention and reduce the chances of counteroffer acceptance from current employers.
Trend #2 – Working with Experienced Recruitment Agencies
It goes without saying that the demand for specialised skills in the pharmaceutical industry is extremely high. As a result, finding the right candidates has become a critical challenge.
To tackle this issue, many companies are turning to outsourcing to expand their search beyond traditional candidate pools and access a wider range of potential hires.
The best pharmaceutical recruitment agencies take on very innovative approaches to finding talent. By combining advanced technology and extensive industry experience, they excel at finding and attracting hard-to-find talent.
This strategy not only reduces hiring difficulties but also significantly expands the talent pool available to organizations. Using these methods, pharmaceutical companies are better able to address the talent shortage, stay competitive, and secure the skilled professionals they need for success.
Trend #3 – Tailoring Jobs for Remote and Hybrid Work Models
Since the global pandemic, industries have changed how they operate. Remote and hybrid work models have become extremely popular because they allow access to a larger talent pool, regardless of location.
Thus, recruiters in the pharmaceutical industry must make the most of this trend by creating jobs that offer more flexibility and better work-life balance.
Trend #4 – Embracing Data Science and Digitalization
Digitalization and data science are playing a crucial role in reshaping the pharmaceutical industry. Using electronic health records (EHRs) for drug discovery and analysing real-world data (RWD) are at the forefront of this innovation.
This is because taking a data-centric approach helps streamline clinical trials, improve patient outcomes, and invent new pharmaceuticals. Because of this reason, there is a high demand for professionals skilled in data analytics, bioinformatics, and informatics is growing rapidly.
Trend #5 – Engaging Passive Candidates
Most companies focus only on active job seekers, which ends up limiting their potential candidate pool. But the real gold lies in the large group of passive talent that often goes ignored.
Passive candidates aren't actively looking for new jobs but may be open to the right opportunity. This group is a valuable source of high-quality candidates. Recruiters are now using data to tap into this segment, leveraging market intelligence and data analytics to find and onboard passive individuals.
Trend #6 – Using AI for Candidate Sourcing
We live in a world where artificial intelligence (AI) is transforming how we recruit, making the process more efficient, data-driven, and precise. By partnering with a pharma staffing & recruitment agency that incorporates AI into hiring, you can use advanced algorithms to improve candidate sourcing.
It means it’s possible to evaluate applications based on a wide range of criteria, such as skill compatibility, cultural fit, and potential performance, and not just basic qualifications. By adopting this approach, you can get a deeper understanding of the applicant pool, streamlining the recruiting process from initial contact to final hiring.
What are the benefits of AI in recruitment?
It can open up access to a larger, more diverse pool of candidates. AI tools can quickly analyse a vast number of applications to identify top candidates much faster and more accurately than any other traditional method. It can help in speeding up the hiring process while ensuring no potential talent is missed as in the case of manual screening processes.
At the same time, AI also takes the existing talent databases into account. Many companies have extensive databases of past applicants and potential candidates, but these are often underused. AI can be used to re-engage these talent pools by matching previous candidates with new job openings to ensure valuable leads don’t go wasted.
Trend #7 – Fostering a Diverse, Equitable, and Inclusive Workplace
In the pharmaceutical industry, diversity, equity, and inclusion (DEI) have become key to fostering innovation and effective problem-solving.
By recognizing the strengths of a diverse workforce, you can actively recruit individuals who advocate for an inclusive workplace. By committing to DEI, you not only enhance creativity but also ensure that the diverse needs of your patients are met.
It is a reflection of your dedication to building a work culture where everyone can thrive and offer their unique ideas.
Shaping the Future of Pharmaceutical Recruitment
It’s clear that the pharmaceutical sector is evolving at a rapid pace, and the key for companies to stay competitive lies in updating their recruitment strategies to meet these changing demands. Whether it involves enhancing employer branding or leveraging advanced technologies, embracing new trends is essential for achieving sustained growth and success.
TASC Outsourcing is here to support your company in navigating these shifts. With our deep industry knowledge and innovative recruitment solutions, we can help you stay ahead of the curve, ensuring your talent acquisition strategies are perfectly aligned with the future of the pharmaceutical sector.
