While oncology has traditionally dominated the life sciences market, there is growing interest in metabolic drugs among investors. The rising healthcare costs associated with obesity, coupled with promising cardiovascular benefits of these treatments, suggest that metabolic drugs could become the largest sector in pharma. The industry is also witnessing a transformation through AI and digitisation, with the US leading the way globally. AI is already streamlining processes from drug discovery to clinical trials, saving time and improving efficiency. Companies with AI-enabled platforms are becoming highly sought-after partners. Looking ahead to 2024, there is a more positive outlook for the US life sciences sector. However, this also presents new challenges, particularly in the War for Talent. It takes an average of 105 days to fill a non-executive position in the industry, resulting in financial losses. The growing skills gap and the impending retirement of experienced professionals necessitate agile recruiting practices. Organisations must prioritise extensive ED&I plans, attractive employee value propositions, and retention strategies. Speeding up the hiring process is crucial to attracting top talent and ensuring competitiveness in the market.
As the US market gains momentum in 2024 and beyond, organisations must have robust internal processes to secure the best talent available. By adopting agile recruiting practices, investing in ED&I, and focusing on retention, training and development and career progression, life sciences and pharma organisations can position themselves for continued innovation and success.
Tom Hancox Vice President Cpl Life Sciences US +1 716 226 1610 711 Atlantic Ave. Boston. MA 02111
For further information about market rates or help with your permanent or contract staffing,
please contact us on +1 716 226 1610 or email cplus @cpl.com
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