The Landscape Of The Emerging Biotech Industry And Data Science In HR

Riley Hsia our consultant managing the role
Author: Riley Hsia
Posting date: 6/5/2019 3:49 PM
One of the latest technologies to emerge to disrupt an industry is Biotechnology. This industry is booming and is no longer confined to universities and research labs. These are the people who build drugs to combat diseases and are expected to comprise a quarter of the market by 2020, less than 6 months from now.

So, what does that mean for HR?

A Streak of Lightning Across the Life Sciences


Biotechnology has grown at an impressive 5% across revenue streams, number of businesses, and number of employees. It is a lightning streak across the Life Sciences and shows no signs of slowing down.

In a field expected to corner a quarter of the market as soon as next year, it’s important to have the right people in place. We already know there is a skills gap in the Data Science industry, but the predictions show it's time to upskill the current workforce. Companies will need people who have the right skills and can implement them into action.

Technology has disrupted every industry and R&D is no different. This means work life is being redesigned as the Biotech industry demands not only technical and Life Science skills, but also more human skills. The challenge is ensuring businesses understand the impact these technologies will have now, and in the future. If they don’t act, their business could stagnate. It’s important executives see applications at work and implement the changes needed to “keep up with the Joneses” of the tech world.

In other words, leaders must find a balance between rapidly advancing technologies and the human insight those technologies provide.

Redesign Your Ideal Candidate


While digital and analytical skills should be standard for just about any industry, there are other things to consider when interviewing. Hiring Managers, recruiters, and businesses over all, will also be looking for the following

  • Imagination
  • Curiosity
  • Emotional Intelligence

You may not be a doctor exactly, but do still have to deal with people. Organizations will need employees who not only ask why, but take the steps to find the solution, and at the same time can navigate an emotionally charged project such any client-facing research when discussing cancer therapies, for example.

Transferable Skills are Key


If you pivot well and can learn and understand projects on a dime, then this is a good industry for you. If you’re a business and you want to scale up quickly, it may be best to upskill or reskill, your current employees. With talent scarce in the market, this may be the best solution for you. Building transferable skills, being flexible, and having a strong academic background will help, too.

Companies actively working to skill their workforce to work with Machine Learning and Artificial Intelligence technologies are just a few of the trends coursing through the Biotech industry. Add to that the myriad researchers, corporations, and governments focused on combatting diseases using available technologies, and its expected growth could make it one of the most efficient and prosperous industries in the digital landscape.

Making HR Data Work for You


Businesses are using HR data to see how they can get a deeper understanding of employees as a whole. Are they overwhelmed? Do they need to rest? Do they need to be challenged? Are they bored? How can you, as a business, help them to enhance not only their performance, but that of your business.

  • Finding exciting new recruitment channels
    Much like you know to go where your customers are, the same holds true today when you’re trying to fill a role. Focus your efforts are on where the talent is, don’t wait for them to come to you. And with the average recruitment process averaging 71 days, the name of the game is “don’t delay” for your perfect candidate may have already moved on to something else.
  • Engaging and motivating staff
    Think of your employees as internal customers. Engage with them as you would any customer, and make your employee a partner in your vision. Now, it’s easier than ever to measure, improve, and boost employee satisfaction using available data and analytics options.
  • Making learning and development more effective
    Learning has become a highly personal, adaptive tool offering course selections. Because online courses are so prevalent, it’s much easier for an employee to learn a new skill without time and expense away from the office. The digital transformation of this space shows how data can be used in corporate learning and professional development opportunities. This is where you’ll want to focus some of your energy should you need to upskill or reskill your employees to keep up with demand.

Are you a business who knows you’re ready to scale up and hire a data professional? We have a strong candidate pool and may have just the person you need to fill your role. Are you a candidate looking for a role in big data and analytics? 

We specialize in junior and senior roles. Check out our current vacancies or contact one of our recruitment consultants to learn more.

For our West Coast Team, call (415) 614 - 4999 or send an email to sanfraninfo@harnham.com

For our Mid-West and East Coast Teams, call (212) 796 - 6070 or send an email to newyorkinfo@harnham.com.

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