Pharma Marketing Network: employer branding tackles talent scarcity and skills gaps.

Talent scarcity and skills gaps plague the life sciences and pharma industries, according to Randstad Sourceright’s 2022 Talent Trends research. In fact, a third (33%) of C-suite and human capital leaders consider it a major pain point. 

So how are companies attracting talent and closing skills gaps in a wildly competitive market? Employer branding is the secret sauce: Just as companies market products to consumers, they’re marketing their whole companies to prospective employees — and positioning themselves as a desirable place to work.  

This approach begins with evaluating your brand from an employee’s perspective. How do your pay scales and growth opportunities compare to other companies in your industry? What are your unique benefits? 

In a crowded landscape, building awareness is another key consideration. Many companies are seeking outsourced branding and PR support to plan and execute campaigns through TikTok, town halls, salesforce meetings and executive communications. 

To fill skills gaps, exploring new talent pools is also critical. Internal mobility is a powerful option, and about 67% of life sciences and pharma leaders report that reskilling has been effective in addressing talent shortages, according to Randstad Sourceright. Identifying talent with transferable skills is another viable alternative, as is building a pipeline of new employees through internships and contractor positions. 

Learn more about addressing talent scarcity and skills gaps through employer branding in Pharma Marketing Network, and download Randstad Sourceright’s life sciences and pharma Talent Trends sector report here.