Pharma and Life-Science Sector Exhibiting Notable Hiring Trends
In 2023, the Indian pharma sector exhibited a notable hiring surge, with a 12% increase compared to 2022, driven by a renewed focus on research and development.
Pharma Companies 2023: Attrition Backfill and New Business Hires
In 2023, the temporary workforce showed a decline, dropping from 2.10% in March 2022 to 1.93% in April 2023.
Despite this trend, the US life science market is projected to contribute $3.7 billion to the staffing industry, creating over 98,700 new jobs at the end of 2022.
As of August 1, 2023, Pfizer employed approximately 83,000 people worldwide. On the other hand, as of December 31, 2022, Merck & Co. employed 69,000 people, reflecting a 1.47% increase from 2021.
Top 10 Pharma Skills
Share of Hiring Among Job Roles in 2023
In 2023, hiring trends in the life science industry were diversified. Support Functions led at 32%, including business support functions such as regulatory affairs;
Technology comprised 26%; Pharma Sales at 20%; and Research & Development at 19%. This comprehensive approach reflected a balanced focus on operational, technological, sales, and research aspects within the life science industry.
Use Cases of Pharma/Life Sciences Industry – AI/Automation
AI-Driven High-Volume Hiring
Pfizer’s AI-Driven Diversity Hiring
In 2021, Pfizer implemented HireVue, an AI platform that streamlines high-volume hiring for a diverse talent pool, reduces unconscious bias, and potentially boosts diversity by up to 16%.
Further, by Leveraging Avature’s automation, Pfizer streamlined registration and application processes, optimizing efficiency and allowing more focus on high-value tasks for high-volume hiring with matching skills.
AI-Enhanced Recruitment Efficiency at Sanofi
Sanofi utilizes AI algorithms to hire most employees, focusing on characteristics such as teamwork, courage, respect, integrity, skills and willingness to learn.
The company also leverages technology, including WeChat and voice recognition software, to streamline the initial recruitment process, offering quick responses to candidates.
Niche Talent Sourcing
Takeda’s AI-Driven Niche Talent Sourcing
Takeda leverages AI for resume screening to identify and onboard talent with specific skills, streamlining recruitment efficiently.
Takeda utilizes an AI software vendor, Terrain Analytics, to proactively analyze and assess the availability and expertise of software developers or scientists in potential expansion areas, enabling strategic decision-making and targeted talent acquisition efforts.
Roche’s AI-Driven Talent Strategy
In 2023, Roche leveraged Starmind’s AI-powered platform to connect employees and tap into their collective expertise, facilitating knowledge-sharing across the organization.
The platform’s multilingual capabilities and integrated search engines break down communication barriers and provide easy access to information, fostering a collaborative environment for sourcing niche talent.
Tech/AI-Enhanced Process Optimization
Johnson & Johnson’s AI-Enhanced Hiring Process
In 2023, Johnson & Johnson accelerated hiring through AI by deploying Textio, an augmented writing platform, to identify and rectify unconscious bias in job listings, resulting in a 9% increase in female applicants.
This AI-driven adjustments have enhanced language in job descriptions, attracting diverse talent and aligning with skill/success profiles for efficient hiring practices.
Merck’s Innovative Hiring Automation
In 2021, Merck leveraged UiPath to automate hiring processes, utilizing drag-and-drop functionality to streamline repetitive tasks and enhance efficiency.
In 2021, Automation Anywhere was also employed by Merck to embed 17 automations, significantly improving compliance-related document processing, saving 150,000 hours, and allowing them to focus on high-level tasks.
Do Subscribe to our #WeeklyMarketInsights for FREE here.
Read more on Healthcare
Data Sources: Business World, PGCgroup, Statista, Biospace, Starmind, and others
Get in-depth Market Research for any industry to understand this industry in more detail where we will cover Market Size, Competitors, Trends, Drivers and Challenges, Future forecasts, SWOT analysis, TAM, SAM or SOM, and much other information in detail. Get in touch with us today.
Other Market Insights