Biotech Industry Struggles to Find Specialized Talent

The biotechnology sector is witnessing significant changes driven by technological advancements, intensified talent competition, skill shortages, and economic uncertainties, all impacting the hiring landscape. In 2024, recruiters and candidates alike are expected to meet new demands and expectations, as reported by PharmiWeb, a life sciences recruitment portal. 

A key hurdle for talent acquisition in biotechnology is the ever-changing technological landscape and the corresponding demand for new skills. Progress in gene editing, personalized medicine, and AI-driven drug discovery has increased the need for skilled professionals in these fields. “Advances in biotechnology, including gene editing and personalized medicine, will create jobs in biotech research, genetic counseling, and healthcare data analysis,” wrote María Fernanda González, CEO and Founder, Kostik, on MBN. For 2024, candidates must tailor their skills to what the market is demanding, as skill searching is prevailing over other qualities when selecting the best talent.

Moreover, biotechnology firms are anticipated to sustain significant investments in R&D to stay competitive, thereby intensifying the demand for specialized talent. Partnerships with academia within the industry are being established to cultivate the necessary talent. For example, the Embassy of the Czech Republic in Mexico has strengthened its ties with academia and R&D infrastructure, particularly in fields closely aligned with their priority sectors, such as biotechnology, as reported by MBN.

However, alongside the demand for specialized skills, the industry grapples with a shortage of professionals with the necessary experience, leading to project delays and increased competition for talent, reports PharmiWeb. “There is a high demand for skilled professionals in the fields of innovation, pharmaceuticals and healthcare and companies in the field often face challenges in finding professionals with the necessary expertise,” said Sharzy Molina, Director General, FAICIC, to MBN.

Fostering diversity and inclusivity in the workforce remains a crucial goal for the industry, particularly in leadership positions, as highlighted by scrutiny in 2023. For example, despite advancements achieved in recent decades, women remain inadequately represented in the field of science in Mexico and globally. “Social barriers, cultural barriers, idiosyncrasies, uses and customs of some peoples, gender biases, and stereotypes are among the factors that deter women from pursuing science-related professions,” wrote Cristobal Thompson, Executive Director, AMIIF, on MBN.

Furthermore, the trend of remote work and global talent acquisition, prevalent in 2023, is anticipated to persist. Adapting to this trend requires robust virtual recruitment strategies capable of assessing and onboarding candidates from anywhere in the world. Several top companies are actively hiring for remote positions in the biopharmaceutical industry such as Takeda, Moderna, AbbVie and BioMarin, as reported by BioSpace.