Win over, don’t turnover! Retaining lab staff 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

Shot of a group of lab staff in white coats working together

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

These resources might interest you

  • Employee engagement graphic

    Employee engagement does not equal engaged employees

    In a recent article in Harvard Business Review on LinkedIn, titled “ 1 in 5 Employees Is Highly Engaged and at Risk of Burnout”, Emma Seppala, Ph.D., and Julia…
    Read more
  • Lab workers in white coats look at whiteboard

    Retaining your most valuable asset: 4 guidelines to reduce lab employee turnover

    With the ever-growing focus on improving lab efficiency and service levels, it’s (now more than ever) crucial not to lose sight of your most valuable asset: your people. This…
    Read more
  • Skilled laboratory analysts working in a modern lab, highlighting the value of working to reduce employee turnover and keep your staff who have been trained for complex tasks

    Employee turnover calculator | Binocs tools

    Read more