Pharma & Life Science's US$3 trillion boom: Is your talent strategy ready?

Explore how our US experts in Pharma and Life Sciences sectors are responding to the Global Pharma and Life Sciences Talent report developed by Everest Group in partnership with Hays. Learn what resonated most with them including topics around from digital talent shortages to regulatory complexity, and how their reflections can guide your organisation’s next steps.

Talent strategy in Pharma and Life Sciences: Key insights

We definitely recommend checking out the full report, but if you're short on time, here’s a quick look at what’s been happening. Global revenue in Pharma and Life Sciences has now surpassed US $3 trillion and continues to grow, though (Mandatory section) modestly, in North America. That said, talent supply isn’t keeping pace and it’s starting to impact several key areas.

• Digital transformation is reshaping roles, with demand surging for AI, data analytics, and regulatory-tech talent.
• Each vertical faces unique pressures: Pharma struggles with aging workforces, Biotech with skill gaps, and Contract Services with high attrition.
• Future-ready hiring requires bold shifts: skills-first recruitment, early-career pipelines, and strategic outsourcing are now essential.

Background

Now, dive into the conversation as we reflect on the insights that stood out the most across the workforce transformation in Pharma and Life Sciences. Or better yet, download the full report.

Digital transformation is redefining roles

The industry’s shift toward AI, cloud, and predictive analytics is transforming traditional roles. Clinical and R&D teams now require blended scientific and digital skillsets, and demand is rising for AI engineers, data scientists, and regulatory-tech specialists.

“We’ve seen huge investment in AI/ML groups that didn’t exist 10 years ago. The other large trend we’ve seen is the need for Real World Evidence. Patient registries within pharmaceutical companies give them access to patient information to provide better care to patient sub-populations. The use of data has so many benefits to patients, and we are starting to see AI help with refining all this data.”

- James Conroy, Head of Life Sciences Recruitment, Hays

Vertical-specific challenges demand tailored strategies

Each vertical within Pharma and Life Sciences faces distinct talent pressures:

• Pharma: Aging workforce, patent cliffs, digital inertia
• Biotech: Skill shortages, volatile hiring
• Medical Devices: Regulatory hurdles, tech talent gaps
• Contract Services: High attrition, just-in-time delivery pressures

A one-size-fits-all approach won’t work. Organizations must adopt tailored talent strategies that reflect the unique dynamics of each vertical.

“In the climate of technological advancement, providing individual and customized solutions are essential, i.e. talent dashboards, hiring insights, etc. Companies need to be flexible in their approaches or risk losing the best talent. The most critical future-ready hiring is reskilling and re-deploying existing workforce within organizations.”

- Michal Mercier, Business Manager of Life Sciences Recruitment, Hays

Future-ready hiring requires bold shifts

The report outlines five strategic levers for future-ready talent acquisition:

• Skills-first hiring to widen talent pools and improve agility
• Early-career programs to build succession pipelines
• EVP and employer branding to attract niche talent
• Upskilling and reskilling to drive innovation
• Outsourcing partnerships to fill hard-to-hire roles quickly

Next steps/what’s next for your organisation

To close the talent gap and stay competitive in a US$3 trillion industry, organisations need to rethink how they attract, develop, and retain talent. Whether it’s building early-career pipelines, investing in digital capabilities, or tailoring strategies by vertical, the time to act is now.

Discover the insights that made us pause and reflect, then consider how they might shape your own strategy. Download the report.