Barrington James: Life Science Hiring Trends 2023

Adapting to 2023: Key Pharmaceutical Industry Hiring Trends

As 2022 wraps up, shifting focus and adapting to industry demands are essential from a recruitment standpoint. With global changes in economic and political climates, it’s crucial to anticipate growth areas for 2023, especially as the pharmaceutical industry is projected to grow by 7.6% annually over the next five years. Here are six major trends poised to make an impact.

1. Investment Trends (Series A and B Funding)

In 2022, the biotech industry faced challenges due to excessive investment in early-stage companies in 2021. While venture capitalists have pulled back on Series A and B funding, seed funding remains strong, particularly for technologies supporting startup growth. In 2023, we expect a shift toward R&D and drug discovery. In Europe, R&D has already proven a thriving market, and this trend looks set to continue.

2. Non-Executive Directors and FSP Models

There’s been an increase in experienced Non-Executive Directors (NEDs) seeking freelance roles, especially in early-stage projects. With operating costs rising, more companies are turning to a staffing-led FSP (Functional Service Provider) recruitment model. In 2023, outsourcing essential hiring projects to recruitment firms is likely to become the norm as companies look to control costs while maintaining trial efficiency.

3. Social Media Hiring and Employer Branding

The pharmaceutical industry’s presence on social media has skyrocketed, with companies investing in social media campaigns and employer branding to attract top talent. In 2023, this trend will continue, with digital marketing and social media engagement at the forefront. Companies with strong employer brands and clear value propositions will stand out, especially among top candidates.

4. Diversity and Inclusion (D&I)

D&I practices are increasingly recognized for fueling innovation, and this momentum is expected to grow in 2023. As hiring managers emphasize diversity, companies may start implementing diversity metrics for candidate shortlists. With candidates prioritizing D&I, face-to-face interviews will serve as a platform to showcase an inclusive workforce.

5. Remote Working and Cost of Living

The shift to hybrid work models continued through 2022, with companies embracing flexibility to support work-life balance. This trend is expected to normalize in 2023, though companies may encourage more in-office presence. Rising inflation and living costs are also impacting candidate priorities, with an emphasis on job security and compensation. Expect a candidate-driven market where counter-offers remain common as candidates weigh multiple options.

6. Manufacturing and Artificial Intelligence

Automated manufacturing and AI saw considerable hiring volume in 2022, reshaping how research is conducted and disease is treated. Areas like Quantum, Computational Biology, and AI Medical Devices are especially in demand, prompting Barrington James to open two new UK offices. In 2023, both large pharma and startups will continue hiring for these fields, with a need for leaders who bridge science and technology.

Moving Forward…

In summary, the pharmaceutical industry is positioned for sustained growth in 2023. We are currently scheduling calls to discuss 2023 hiring plans and how to prioritize recruitment strategy. Barrington James exclusively recruits in the life sciences sector, including: R&D, Clinical Development, Regulatory Affairs, Quality Assurance, Sales and Marketing, Market Access & HEOR, RWE & Epidemiology, Medical Affairs, and Artificial Intelligence.

If you’re interested in refining your hiring strategy for 2023, let’s have a confidential discussion or check out our industry-leading recruitment services on our website.

Amy Jenkins

Senior Sales Manager