As I approach 2 years working in the science industry, I've reflected on some of my key learnings:
1. There is a shortage of qualified candidates
Companies are now happy to hire candidates that tick most of the boxes, but not all. They realise that often, the perfect candidate does not exist, and there are simply not enough life science candidates in the market to match the exact requirements of the role.
2. Retention is down
The scientific community is highly interactive. If a scientist feels as though their company does not stand out from the rest, retention can be tough. Companies need to reflect on what they can do better to avoid high rates of attrition.
3. Remote Senior Level roles are on the rise
Increasingly, scientists earning higher salaries are working most of the time away from the lab. Commuting times and travel distances are becoming less and less of a consideration for candidates. More traditional employers are finding it harder to recruit.
Advice to companies wanting to source and retain senior candidates:
- Incentives matter to scientists - ensure you consider clear-cut progression opportunities, bonuses, and pension contributions. Scientists working at the same level for 2+ years will, often, take what they have learnt and leave. Therefore, investing in your employees is critical. Losing their skillset and training a new scientist from scratch is a lot more time consuming and costly than offering a well-deserved pay rise and giving them the recognition, they deserve.
- Ensure your “Competitive Salary” really is competitive in the market: Use market data to ensure that your salaries are competitive – recruiters can help you with this. Pay scientists what they are worth.
- Offer flexibility: if you want to attract the best senior level candidates, this is a must have for your role. Flexibility, however little, is always appreciated.
- Variety: scientists do not like repeating the same analytical method or process every day all day. Give them exposure to other teams in the company to further their learning and to keep them engaged.
- Professional qualifications and personal development matter: Companies that truly invest in their scientists see less attrition than those that do not.
- Qualified candidates are aware of their value and will negotiate to get what they feel they deserve: Does the salary reflect the level of experience you require for your role?