The Boston biotech market right now is very dynamic. Numerous well-funded and well-planned biotech companies are gaining steam and breaking new ground. However, this means some heavy competition for top talent for companies in this flourishing Boston life sciences hub.
Finding and hiring talented individuals is crucial to leading the growth of the Boston life sciences industry. Black Diamond Networks is here to help with insights about how to face this challenge.
Boston’s life sciences industry is growing
According to the Massachusetts Biotechnology Council (MassBio), 2020 was the best funding year on record for the Massachusetts biopharma industry. While the pandemic caused job insecurities and peak unemployment rates nationwide, Boston life sciences continued to thrive.
Out of more than 1,400 MassBio member organizations, nearly 700 are companies focused on life sciences research. As the Boston life sciences industry grows, there is a concurrently expanding need for manufacturing and R&D operations to support the work of life science jobs in Boston. This supporting work includes co-locating bioproducts, synthetic chemical manufacturing, and running R&D labs.
Life science companies in Boston have a lot to look forward to, but the industry growth will also bring some challenges.
Challenges to expect as Boston’s life science industry grows
The biologics and cell and gene therapy markets in the Boston area are poised for continued growth thanks to the concentration of renowned universities in the area. These universities, particularly those with prominent healthcare and technical disciplines, provide a hotbed of new talent for life science companies in Boston.
Despite this considerable talent pool, the growth rate of this industry is likely to leave Boston life sciences companies competing to hire qualified individuals who are best suited to the job. As a result, talent shortage is a real challenge that life science companies in Boston should prepare to face.
The influx of competition for staffing services is a key indicator of the rising talent shortage issue for life science jobs in Boston. Partnering with the right staffing agency will be crucial for biotech companies looking to lead in this growing industry. That’s why your Black Diamond experts made the move to grow a project services business and expand our life science industry staffing service capabilities.
Tips for hiring life sciences talent in Boston
As the Boston life sciences industry grows, finding candidates for life science jobs will require alignment, precision, and speed. Black Diamond Networks can help you achieve all three to fulfill your hiring needs with the right person at the right time and get your projects done.
Alignment matters because key stakeholders in life science companies often have different views regarding what they are looking for in a candidate. Internal conversations are necessary to get on the same page and avoid missing out on candidates with excellent potential. Let us help you address essential questions and align expectations before your talent search begins.
Internal alignment will also help you achieve precision: in other words, finding the right person for the job. Black Diamond has the most expansive local network of consultants within the biotech space. Thanks to two decades of working with consultants on client projects, we know all your potential hires in detail, from their qualifications to their personalities and the way they work.
Your Black Diamond experts are also in tune with who has bandwidth for new projects and how to deliver consultants promptly. In the biotech market, speed is essential to getting projects done on time. We are known for our ability to get you the best in-demand talent with a rapid turnaround time so you don’t fall further behind on your projects!
The future of Boston life sciences looks bright for quite some time. Though the industry’s growth will inevitably lead to staffing challenges, competition, and other hurdles along the way, your Black Diamond experts are invested in fulfilling your hiring needs to help you get your projects done.
Talk to us about hiring top talent to lead Boston life sciences growth!