The life sciences and pharma industry continues its road to transformation. We’ve seen the development of vaccines at record speed, the rise of telemedicine, patient-centric user experiences, and the expansion of the healthcare workforce.
Innovations in the industry are also transforming supply chains and improving cross-functional collaboration with a focus on improving patient outcomes worldwide. Technology innovations, too, enable greater productivity and accelerate market speed as companies double down on their digitization.
Yet, as innovation booms in the life sciences and pharma industry, many organizations are grappling with talent shortages that impede their growth trajectories. Increased demand for skilled professionals and a lack of qualified candidates make it hard for life sciences companies to execute these mission-critical initiatives.
So how have life sciences companies facing one of the tightest labor markets to date been addressing the talent gap?
On-Demand Talent Acquisition Facilities Continued Growth in Life Sciences
An increasingly aging population, the need for new vaccines to combat new diseases and emerging COVID-19 variants, along with the Great Resignation movement, have made it difficult for business leaders to find the talent they need. One way many have been solving the talent challenge is by leveraging on-demand talent acquisition platforms like Graphite.
These platforms enable companies to address talent gaps and respond to business challenges with agility, speed, and proficiency. With the addition of these independent experts, life science companies can keep up with the pace of innovation, attaining a level of flexibility that enables them to scale their workforces as business and customer needs evolve.
More importantly, the use of independent life sciences experts goes beyond just completing the initiative at hand. Savvy business leaders can also leverage the expertise of these independent workers to upskill their teams and offer mentoring opportunities for those looking to break into the field. In doing so, companies can develop a comprehensive talent strategy that solves both long-term and immediate needs.
How 4 Life Sciences Companies Are Driving Innovation with Independent Expertise
Innovation continues to be a driving force in the life sciences and pharma industry. Teams have embraced the change brought on by the pandemic and are investing in innovative tools and strategies to enable better patient outcomes worldwide.
From conducting important market research for a new drug, reconfiguring supply chains, modernizing healthcare departments, or bringing new drug indications to market, companies had to think two steps ahead to thrive in a constantly changing environment. And they've been able to do so by leveraging independent talent.
But what does that dynamic look like? How have life science companies leveraged subject matter expertise on demand? To that end, here are three examples of what this looks like on Graphite.
Accelerating Go-To-Market Launch of New Drug
After creating a new medication for head and neck cancer, this global drug manufacturer wanted to develop a brand marketing campaign. Because of its blockbuster potential, the brand marketing campaign needed a sound strategy to capture market share with the proper positioning and messaging.
Ultimately, it would require the help of a subject matter expert to facilitate the creation of the brand marketing campaign strategy. Since it lacked the subject matter expertise in-house, in combination with a looming launch date, the manufacturer turned to Graphite to find the right person for the role.
Within 24 hours of posting the role, the manufacturer’s Account Executive (AE) was able to present three independent experts that matched its criteria. The expert the company hired was an experienced project manager with a proven track record of helping Fortune 500 life sciences companies and consulting firms like Accenture and Slalom consulting drive large-scale product launches.
Establishing a New Department
The uptick in medical advancements has ushered in the importance of educating the masses on the impact of these new drugs, equipment, therapies, and more. This has led to the creation of the medical affairs department to handle this request. But setting up a department is much more than just creating a new unit and sharing information.
Because of the impact of these innovations and the regulatory nature of this field, special consideration around how to rely on the information is of vital importance. Such was the case this clinical-stage therapy company found itself in.
After hiring a medical affairs leader to run the new department, the company realized that the medical affairs leader would need additional support in setting it up. Since the company wanted to set up the department as soon as possible, it leveraged Graphite to hire an independent subject matter expert.
The selected candidate was a global life science expert with over 18 years of experience and a background working at a Big Four accounting firm leading cross-functional enterprise-wide transformations.
Creating First-in-Class Gene Therapy for Ultra-Rare Disease
The pandemic accelerated the pace at which innovation in the life sciences space came to market. Such was the case for this global pharmaceutical company after creating the first of its kind gene therapy for an ultra-rare disease.
To ensure a successful go-to-market (GTM) strategy, the company collected data about its target patient. There was just one problem. Due to the expedited timeline and the intricacy of the GTM plan, the company required a subject matter expert to lead the product launch on time.
Hiring a full-time employee to drive this initiative forward would have taken too long, along with engaging a consulting firm. So the company decided to explore onboarding an independent subject matter expert on demand on Graphite.
Through the platform, the company hired a patient services expert with SHIFT Nova and HIPAA experience to deliver strategic recommendations after reviewing the data. Within six months, the expert was able to lead the creation of the GTM strategy and launch the new drug.
Driving Financial and Supply Chain Transformation
With its supply chain transformation well underway, this leading pharmaceutical company realized it was missing financial expertise if it wanted to reimagine its business operations.
More specifically, the company recognized it would need the help of a finance subject matter expert to develop financial forecast reports, frame results based on business drivers, manage monthly and quarterly close reports, and develop financial models to identify future investment opportunities.
Rather than spend over two months to find the right candidate, the pharmaceutical company leveraged Graphite to hire an independent Director of Finance with over 17 years of experience. Within nine months, the expert was able to deliver on the company’s expectations, resulting in a more resilient supply chain adept at navigating uncertainty with ease.
Exploring Independent Talent for Your Life Sciences Organization
Demand for top-tier life sciences talent is expected to continue, even more so as more and more talent choose to explore the independent route using platforms like Graphite. Ultimately, addressing the talent shortage in the life sciences industry will require a combination of approaches.
One way to ensure your organization can keep up with the pace of change is to invest in building hybrid teams of both full-time employees and independent experts that can help you increase productivity, accelerate innovation, and improve business outcomes.
With a flexible workforce model, business leaders like you can better align corporate strategies with emerging market trends, consumer demands, and employee expectations. If you're interested in learning how an on-demand talent acquisition platform like Graphite can help you meet immediate talent needs, connect with one of our Account Executives today to explore the possibilities.