Many have entered, but many are leaving. During the past two years, thelife science industry, a sector that employs almost 200 people in Italy and has more than 5.000 businesses, has played a strategic role in the fight against Covid19. The industry has attracted many talents, but in many cases, companies have failed to retain them. An investigation says so Jefferson Wells and Frezza & Partners which involved over 60 of the main Life Science companies in the country.
68% of those interviewed say that in the last two years the reputation of the sector and of companies has improved thanks above all (for 44%) to the commitment of companies to improve people's health and (27%) to the fight against Covid19.
Life Science: strong growth in the ability to attract talent
This has translated into a strong growth (74%) in the ability to attract talented people, but on the contrary companies are struggling to keep them, so much so that for 65% of HR managers turnover has increased. The trend involves heterogeneous profiles: from top management to staff positions, from technical and scientific operators to commercial figures. In particular, the trend mainly affects the younger age groups, those between 25 and 34 years old and between 35 and 44 years old, who make up over 90% of personnel who leave the company (respectively, 44% and 47% ).
And yet profile search in this area it is expected to grow by +22% in the first quarter of 2022, according to the latest survey by Manpower Employment (of which Jefferson Wells is a part), a value that compares with the difficulty of 76% of Italian companies in finding the necessary talents. According to the survey, they are three main requirements that people are looking for in a company: career progression paths, a better work-life balance and more flexibility in working hours. It is a'trend reversal on the part of workers if we consider that, until two years ago, the top three priorities included a high salary and company benefits, today they have dropped to fourth and sixth place respectively in the ranking.
People are now looking for work life balance and time flexibility
“Career progression paths, work-life balance and flexible schedules are the main factors people look for within a pharma company,” he says Alessandro Head, Jefferson Wells Director. "The fact that elements such as a high salary and corporate benefits have descended from this imaginary podium represents a point of reflection for companies, which are called to question themselves on the issue of 'work life balance', a novelty that the pandemic has accelerated" .
Companies in the sector are already organizing themselves accordingly, to attract and retain new talent, implementing a series of actions for this purpose. Specifically, the most effective initiatives implemented by companies concern actions to encourage thework-life balance (e.g. smart working, flexible hours, etc.), personalized benefits and welfare plans and employer engagement initiatives, followed by structured training and development paths.
The "draft of talent" - says a note - must be corroborated by the joint action of specialized consultancy firms, capable of accompanying companies not only through the processes of research and selection of the best talents - who represent an increasingly requested asset and limited - but also in the definition and implementation of talent attraction and employer branding campaigns, capable of attracting and retaining the most sought-after figures.
