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Industry Insights: Competition for talent – what to expect when looking for work or hiring in the current market

In this latest article, Compass Life Sciences EVP & Country Head, David Jolley examines the current markets within the Life Sciences industry in the USA and provides advice for both candidates and clients.

This report examines the following issues and observations within the industry:

  • There is an increase in the candidate pool due to recent industry redundancies and much more pressure on Talent Acquisition teams.
    • Current economic conditions are primarily responsible for this with recent data suggesting 13% of life sciences companies considering redundancies. This therefore has an impact on Talent Acquisition teams having more pressure placed on them and receiving negative candidate feedback due to a lack of time and resources.
  • The increase in competition for roles increases the importance of a relevant resume to the job being applied for
    • Not only are there mass redundancies but there is also a record number of life sciences graduates than ever before. Candidate competition has seen some salaries decrease as much as 10% in some areas due to the rebalance of supply and demand.
  • Advantages of how a good recruiter can support candidates
    • A good recruiter who understands the industry can support with interview preparation, what hiring managers are looking for and general market coverage.
  • Advantages of how a good recruiter can support hiring communities and Talent Acquisition teams
    • How an industry-experienced recruiter is an investment by reducing the time to hire, taking pressure off internal teams, and providing a diverse range of candidates.

About David

After building a successful team supporting the European territories, David now leads our US organisation as EVP and Country Director based out of Raleigh, North Carolina. Holding a dual role with full accountability for setting and implementing the strategic direction of the country, he remains hands-on delivering his own portfolio of staffing and search business-critical projects.

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