The pharmaceutical industry is a vital contributor to the UK economy, as it not only boosts GDP but also creates employment opportunities. From developing medicines and innovative treatments to preventing infectious diseases and mortality, the industry plays a significant role in enhancing the quality of life.
The industry's investment in research and development has reached £3.9 billion, with approximately 23,000 scientists employed in this field. The demand for skilled employees has only increased in the post-COVID era, making it even more challenging for companies to find the right talent.
Several key trends are emerging in the pharmaceutical industry, including the need for stronger tech skills due to technological advancements, the shift to direct-to-consumer models, the growth of specialty pharma, and an increased focus on mergers and acquisitions. Additionally, organisations are shifting to a key account management model, necessitating a different skill set, particularly in sales and marketing roles.
To achieve a competitive edge and address skills gaps, pharmaceutical companies must invest in recruiting and upskilling. However, identifying talent gaps and predicting future workforce needs remains a challenge.
Successful HR management programmes can help organisations address these challenges. Sharing knowledge and investing in upskilling can improve the skill base across the company, while employer branding and incentives can help attract and retain top talent. Digital HR tools like HR analytics can provide HR leaders with the necessary information to make informed decisions and improve employee well-being and overall job satisfaction.
Sympa’s powerful reporting tools can help pharmaceutical companies gain insights from HR data and show the impact of their HR investments using HR analytics.