To say the gene therapy sector is growing at a rapid pace is an understatement. The space is projected to grow at an annual rate of more than 40 percent in the next 10 years alone. To put that in perspective: The human genome was only sequenced 16 years ago, in 2003.
Since then, 729 gene therapies have been developed, and with the FDA recently announcing new policies to advance the development of safe and effective cell and gene therapies, more are sure to come.
But for biotech companies of all kinds, from industry leaders to startups, one question remains: Where will they find the talent they need to support all of that growth?
To get answers, let's dive into the current talent crisis in gene therapy, then turn to a few potential solutions that just might help your organization get ahead.
From a high level, there are several key factors to keep in mind when thinking about the shortage of qualified gene therapy candidates on the talent market today. Most notably:
Gene therapy, as a sector, is still in its infancy. As the sector matures and continues to thrive, it stands to reason that more candidates will pursue careers in this space. That should make things a little bit easier for life sciences companies (at least over the long run).
Qualified candidates must have highly specialized skills — and there are barriers to entry. Even recent college grads with strong science backgrounds and significant lab experience won't be equipped to handle the large-scale bioreactors that are used to manufacture gene therapies at scale. In other words, producing, say, viral vectors in an academic setting doesn't count as sufficient training.
There's a talent shortage across the biotech space today — it's being felt across all sectors, not just within gene therapy. For example, one survey of biotech employers found that, for nearly one in three companies, the average time to hire for open roles is 13 weeks or more. So the talent crisis in gene therapy is part and parcel of a broader issue.
But with cost and sustainability concerns top of mind for gene therapy companies right now, the pinch is real enough. Sourcing and hiring talent has never been harder, so let's look at what they can do about it.
As we have seen, gene therapy expertise is hard to come by. But biotech employers aren't powerless. Here are two immediate approaches they can take to get ahead of a potentially crippling talent shortage.
Partnering with a leading life sciences staffing company is perhaps the most direct route to shoring up your most immediate talent needs. These staffing firms specialize in recruiting life sciences talent, so they have networks of available resources as well as relationships that enable them to land skilled candidates you won't find any place else.
One of the best ways to combat the current talent shortage is to take direct action with your workforce today by implementing workforce training programs that deliver on the skill set — in this case, gene therapy expertise — your organization needs most urgently. Interestingly, this is an area where staffing companies can deliver substantial value to life sciences companies, too. For example, these partners can work with client companies to build or outsource upskilling and training programs — and better yet, they can tailor them to support your specific gene therapy drug cycles.
As the life sciences industry has evolved, so too have the workforce models that industry-leading companies use to bolster in-house capability gaps and secure talent. In a certain respect, however, that also makes identifying the right provider at once more critical — and more difficult — than ever before.
To help you out, here are some key areas to consider when evaluating potential partners.
Life sciences companies often look to address contract and permanent staffing needs as they begin to grow their business, later evolving the partnership to include a functional service provider (FSP) solution. So think about the short- and long-term arrangement that makes the most sense for you. Ultimately, you want to look for a staffing partner that can deliver the talent you need, in the capacity you need it, fast.
Obviously, you want a partner with extensive experience in the life sciences space. With experience comes insight and a knowledge of benchmarks and best practices — not to mention the ability to hit the ground running. So look for staffing companies that have a history of long-term, collaborative partnerships with biopharma and life sciences industry leaders.
You'll want to ask potential partners how they plan for and handle the need to scale up quickly, as well as how they'll avoid underutilizing resources. Program governance meetings are an excellent way to manage the resourcing demands of a successful staffing partnership, helping ensure constant communication between you and your staffing partner.
Identifying, recruiting and hiring top talent in today's scientific marketplaces has never been more challenging. That's why you need a partner with an extensive network of talent, as well as innovative and proven sourcing strategies, to locate qualified and experienced talent to fit your needs.
Randstad Life Sciences has a vast, prequalified talent pool, together with high-tech solutions that can help ensure you get the right hires at the right time. We'll partner with your organization to identify and recruit the best talent with the expertise and skills you need — no matter how specific your requirements may be. Contact us today to learn more.