Every employer wants top talent. But not every employer knows where and how to find it – let alone keep it. That’s especially true in the early life sciences and deep tech sectors, which rely on some of the most highly sought-after experts in the world. A well-established recruiting process is the only way to guarantee your organization’s long-term outlook remains bright. Given the industries’ uniquely challenging landscape, this article will run through tried-and-tested strategies for building a winning talent pool in early life sciences and deeptech.
First, Why is There a Problem?
The first step to creating a proper solution to a problem is understanding why that problem exists in the first place. So, why is talent acquisition challenging in early life sciences and deeptech?
The answer lies in a perfect storm of factors that make these sectors particularly competitive:
Limited Talent Pool
The specialized nature of these fields requires advanced degrees and years of specific experience. Only a tiny percentage of professionals possess the necessary qualifications.
Global Competition
Organizations worldwide vie for the same candidates, increasing compensation expectations and making retention more difficult.
Rapid Industry Evolution
Technologies and methodologies change quickly, requiring continuous learning and adaptation. This makes it harder to find candidates with up-to-date expertise.
Startup Environment Challenges
Many early-stage companies struggle to match the benefits packages of established corporations despite offering exciting opportunities and potential equity.
Where other industries like retail or hospitality can often train entry-level workers into skilled positions, early life sciences, and deeptech require advanced expertise from day one. The highly technical nature of these fields means there’s little room for on-the-job learning of fundamental skills. This creates an incredibly challenging recruitment environment where traditional talent acquisition strategies often fall short.
Moreover, the innovative nature of these industries means that roles and required skill sets are constantly evolving. A position that didn’t exist three years ago might now be crucial to a company’s success. A rapid pace of change makes it difficult for educational institutions to keep up, further constraining the available talent pipeline.
The Keys to Building a Winning Talent Pool In Early Life Sciences and DeepTech
Unfortunately, there isn’t a one-fowl-swoop solution to building a winning talent pool in early life sciences and deep tech. The way forward can only be forged through combined efforts addressing each challenge that makes talent acquisition difficult. Below, we outline what we’ve found to be the most effective strategies for overcoming obstacles and building a sustainable pipeline of qualified candidates.
Strategic Partnerships with Universities
Establishing strong relationships with academic institutions helps create direct pipelines to emerging talent. Focus on schools with strong programs in relevant fields and engage with students early through internships and research collaborations.
Competitive Compensation Packages
While matching big tech salaries may not be feasible, create attractive compensation packages, including equity, performance bonuses, and comprehensive benefits. Consider offering unique perks like research budgets or conference attendance.
Flexible Work Arrangements
Embrace hybrid or remote work options where possible. This expands your talent pool geographically and appeals to professionals seeking work-life balance.
Investment in Professional Development
Demonstrate commitment to employee growth through mentorship programs, continuing education support, and clear career advancement paths. Doing so aids both recruitment and retention efforts in a big way.
Employer Brand Development
Showcase your company’s innovative work, culture, and impact through targeted content marketing and social media. Highlight successful projects and team achievements to attract passive candidates.
International Recruitment Strategy
Cast a wider net by considering qualified candidates from global markets. Develop processes for sponsorship and relocation assistance. As a new presidential administration takes office, the United States may expand H1-B visa allocations for highly skilled workers in 2025.
Build a Winning Talent Pool In Early Life Sciences and DeepTech with Us
Sheer Velocity is a premier recruiting firm specializing in early life sciences and deep tech talent acquisition. Our extensive network and industry expertise enable us to connect innovative companies with exceptional professionals who drive technological advancement.
The process starts with a simple inquiry – reach out to get the ball rolling today and speak with one of our deeptech recruiters. We’ll work closely with you to develop targeted recruitment strategies, leverage our extensive professional networks, and identify candidates who meet your technical requirements and align with your company culture and vision.