A new report on the biotech workforce gives us much to feel optimistic about—and highlights the resilience of the life sciences industry in what was undoubtedly its most challenging year to date.
The Coalition of State Bioscience Institutes (CSBI) and TEConomy Partners LLC recently published a new report, 2021 Life Sciences Workforce Trends Report. CSBI is a valued partner of BIO and the Council of State Bioscience Associations (CSBA).
The report gives us a number of reasons to feel optimistic:
In 2020, industry employment increased by 1.4%. Compare this to the private sector as a whole, which saw a 5.1% decrease in employment.
The industry effectively adapted to remote work, with 87% of survey respondents saying remote work was implemented due to pandemic distancing protocols.
This was a good thing: 28% said this allowed companies to compete and attract strong talent.
“The pool for recruiting and retaining talent expanded by allowing remote work. We are now more open minded to non-local talent,” said one industry executive.
65% of surveyed executives confirm advancing a more diverse, equitable, and inclusive workforce has been elevated as a strategic priority for their organization. In addition, 56% report having formal diversity initiatives in place.
Partnerships are key to finding talent. 78% of surveyed executives said their firms have formal partnership(s) with educational institutions. In particular, two-year biotech programs are key to finding skilled technical workers for “middle-skills jobs,” which make up 1 in 3 jobs in life sciences.
Looking ahead: In 2021, there is outsized demand for employees to fill high-skilled jobs, in addition to the 1-in-3 jobs for middle-skill occupations requiring degrees from trade schools and comparable certifications. Clearly, continued industry resilience is dependent on sustained workforce development.
Read the full report.
During the Council of State Bioscience Associations (CSBA) Annual Summer Meeting last week, CSBA affiliates discussed topics including governance best practices, state and federal government relations, policy engagement, and the launch of the report. Affiliates shared 2021 priorities, and Dr. Michelle McMurry-Heath reflected on her first year at the helm of BIO. This meeting typically occurs during BIO Convention, and CSBA looks forward to seeing everyone in person in San Diego in 2022!
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