Trends that will change life science hires in 2016 - Viewpoint - careers advice blog Viewpoint careers advice blog

Trends that will change life science hires in 2016 - Viewpoint - careers advice blog At Hays Life Sciences, we’re in the perfect position to keep abreast of developments in, and factors affecting, recruitment to the life sciences industry. During 2015 we saw unprecedented evolution in many areas and it looks like  2016 will be influenced by a number of important trends. While it may be too early yet to tell whether the result will be more pharma jobs or fewer, nothing is more certain than change â€" and chances are, there will be plenty of it. The year of merger mania? Mergers and acquisitions (MA) were a huge trend of 2015 (read our post on the subject), but according to the annual report from PriceWaterhouseCooper’s (PwC) Health Research Institute, this will pale to insignificance by comparison with 2016. This will be ‘the year of merger mania’ says PwC, driven by many companies’ interest in diversifying their drug pipelines, competitive business interest rates and a loosening of the regulatory environment in the US. The report cites: “Expectations are high for 2016. As industry alignment leaves fewer dominant players, pressure to differentiate in the market will mount. Success will come through tactical growth delivering what consumers valueâ€"greater access, improved outcomes and lower costs.” While all this may be good for business, it is no secret that, as companies consolidate their resources, they often cut away at duplicate parts of their workforces. Between 2009 and 2013, for example, biopharma in the US cut at least 156,000 jobs, scaling back research and development (RD) departments, sales teams and eliminating redundant positions in the post-merger workforce. How the continuing MA trend will pan out for talent during 2016 remains to be seen. Big Pharma meets little biotech The exploding MA environment has seen the worlds of Big Pharma and little biotech begin to align their visions more closely. Big Pharma is increasingly looking to invest in innovative biotech startups, understanding the immense value they bring to the bottom line. The biotech startup, Moderna, is one of many examples of this, winning $50 million in funding from Merck at the beginning of 2015, adding to existing funding it had previously won from Astra Zeneca. As such relationships mature, expect to see the smaller startups begin to take a more active role in day-to-day business activities, and having a larger say in how seed funding is spent. Where such partnerships are successful, there should be an increase in growth and hiring during 2016. Tech giants Google-eyed at life science opportunities It was inevitable that the world’s foremost tech giants would turn their attention to healthcare and the life sciences. With such huge consumer databases with unmet need in the offing, it was always a matter of when, not if. Google, Apple and IBM have all been targeting Big Pharma and are clearly asserting their ambitions in the healthcare sector. In August 2015, Google announced a massive restructure designed to consolidate its funding of health-related ventures â€" one such example is its teaming up with Novartis to develop smart contact lenses designed to correct age-related presbyopia. IBM and Apple have also joined with Medtronic and Johnson Johnson to collaborate on developing better targeted therapies and better patient compliance. ‘Big Tech’ is assured a place in the future pharmaceutical industry and its influence will continue to grow. It is likely to lead to additional hiring in 2016. The outlook for 2016 There is no doubt about it. Change is in the air for recruitment to the pharmaceutical and allied industries. These are some of the broader trends, but the picture is complex. Factors like the growth of flexible workforces, greater focus on STEM (Science, Technology, Engineering, Mathematics) training and careers, greater focus on recruitment outsourcing, the rise and rise of data analytics will all have an impact, in a manner which is difficult to quantify. All things being equal, hiring in the sector is expected to increase, but there are never any guarantees. The most important thing to do is to recognise and embrace the changes, and to keep on top of acquiring skills to meet the demands of the new working paradigm. I hope you found the above information interesting and useful     please see below for links to  other  life sciences blogs  which may be of interest to you and your teams: Start me up: Embracing the age of life sciences startups QA with Neil Campbell, President and CEO at Helmonics Big data, big impact on life science skills demand Life sciences recruitment: Where are we headed? Is this the end of the science geek? QA with Craig Tashjy, CFO at Cingulate Therapeutics To view our current vacancies for life scientists, please visit our life sciences jobs index. Stay up to date with latest news from across the globe by joining our LinkedIn group, Life Sciences Industry Insights with Hays and follow us on Twitter @HaysLifeSciences.