Win over, don’t turnover! Retaining lab talent in the life science industry
With up to 40% of revenue reinvestment being dedicated to payroll, it’s clear that talent represents one of the pharmaceutical industry’s most significant assets. Particularly in laboratories, finding the right staff with the appropriate technical skill set is vital to maintaining drug production supply chains.
In addition to this, recruitment, hiring, onboarding, and training processes further contribute to a company’s expenditure by a factor of 50-125% of a new staff member’s first year salary. From both an operational and financial perspective, then, limiting lab employee turnover is critical to commercial success.
But what are the main drivers that lead highly-skilled staff to seek opportunities elsewhere? And what can life sciences companies do to create an optimal environment that encourages employees to remain – and to thrive – in their chosen roles?
Watch now for free
Here’s what to expect
- Key insights from human resources research at Ghent University
- The importance of employee retention
- Challenges from employers and employees
- Tactics on how to reduce employee turnover
- Retaining lab talent in the life sciences industry
- Risks and challenges specific to the sector
- Tips for optimizing laboratory processes
- ‘Industry 5.0’ and keeping talent in the lab
- Case study from Astellas Pharma
- How Astellas Pharma achieves great employee retention
- Interactive audience Q&A with the panelists
Evy Van LanckerResearcher at the Faculty of Economics and Business Administration @Ghent University
Adam Lester – GeorgeContent Manager @Binocs
These resources might interest you
What can life sciences companies do to optimize working environments & encourage skilled lab staff to remain (and thrive) in their chosen roles? Find out in our webinar!Read more
Retaining your most valuable asset: 4 guidelines to reduce lab employee turnoverWhat can life sciences companies do to optimize working environments & encourage skilled lab staff to remain (and thrive) in their chosen roles? Find out in our webinar!Read more