The pharmaceutical and biotech industries have grown rapidly over the past decade, which has affected IT departments tremendously. Most companies in the pharmaceutical and biotech industries have unique IT needs when it comes to network security, data science, and business solutions. Here are some of the industry’s biggest IT employment trends right now.
Hiring Managers Target Specific Skills and Experiences
Many hiring managers concentrate on finding candidates who have the right personality for the job, yet IT departments in these industries also require very specific skills and past experiences. IT professionals need an exceptional understanding of both technology and business. Meanwhile, there is a shortage of talent in the field who possess the technological knowledge, as well as the business aptitude, to succeed in IT roles. This means that it often takes longer for hiring managers to fill vacant position in pharmaceutical and biotech IT departments. In the current market, hiring managers know what they need and are willing to hold out until they get it.
BRM Roles Are on the Rise
Another major trend is the increase in demand for business relationship management (BRM) talent. Business relationship manager roles are on the rise since they act as liaisons for the different departments within a company and they have a keen understanding of business problems and solutions. Because BRMs understand the business processes of the company and can also provide technological guidance, these roles help to make sure IT business strategies are optimized.
Tech Skills and Data Science
Companies are looking for candidates with Python knowledge who also have a background in data science. These sought-after candidates are able to use coding and scripting to solve business problems within the company. In pharmaceuticals, technology is helping companies run smarter, leaner, and faster across the board, even in areas like human resources and finance.
Mergers and Acquisitions
Many pharmaceutical companies are worried about their financial outcomes for 2020, as many lucrative drugs will have their patents expire next year. Many of these companies will try to maximize profits through mergers and acquisitions. Expect larger companies to start acquiring many of the smaller pharmaceutical companies. Companies will want to merge with other companies that can enhance their data technology knowledge base. This trend will create many new job opportunities.
As the pharmaceutical and biotech industries continue to expand, the talent shortage will become more pronounced. These industries have very specific needs when hiring for IT roles. They need professionals who have technology skills but who also have a great understanding of business processes.
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