The life sciences sector has always relied on specialist IT talent to develop new pharmaceuticals or medical devices. Recently, innovations such as AI-driven drug discovery and advanced bioinformatics have created a noticeable gap between the skills organisations already have and the skills they need. With the sector contributing around £100 million to the UK economy and employing over 300,000 people, the tech skills gap has severe implications for the industry’s progress. To rectify this, organisations must ask themselves whether it’s better to train their existing staff or bring in specialist talent from outside.
The advantages of upskilling
Upskilling an existing workforce is often the most practical, efficient, and cost-effective way to strengthen a team. Many life sciences organisations already have committed and dedicated employees with a profound understanding of the sector and vital technical skills. By adding to their existing knowledge and providing the opportunity to learn additional skills, organisations can strengthen their workforce’s capabilities without disrupting teams or culture.
Upskilling also makes financial sense. The ‘HR Director’ noted that businesses could save around £36,000 per employee by offering additional training and development to enrich their skill sets. For organisations dealing with tight budgets, especially startups or smaller firms, this can make a significant difference.
Offering upskilling and career progression opportunities to employees also increases retention, reduces turnover, improves morale, and strengthens an employer’s brand.
The advantages of hiring
There are situations, however, when upskilling isn’t enough. If an organisation needs to develop a new product or service at pace, it makes practical and logistical sense to bring in a skilled specialist who can immediately contribute their experience and expertise. In these cases, where lead times for internal training may be too long or a team is already over-stretched, hiring is often the only practical solution.
External hires also bring fresh perspectives on problem-solving and new technologies and have long-established networks that can benefit a team and help prevent it from becoming too introspective. If their background is non-life-science-based, it may also present a welcome challenge to an organisation’s traditional way of doing things.
Finding an equilibrium
For life sciences organisations of all sizes and complexities, the most effective approach is a combination of upskilling where possible and hiring when necessary.
Before you commit, it’s helpful to consider the following:
- Is the need urgent? If you need talent quickly, hiring may be the only practical option.
- Are the skills specialised? Simple digital tools can be taught quickly, but more complex skills require years of experience.
- What’s your long-term goal? To maximise the impact of digital and data-led work, building internal skills can benefit an organisation immediately and prove cost-effective over time.
Thankfully, upskilling vs hiring is not an either-or decision but rather a combination of skills-acquisition strategies that, when used thoughtfully, can strengthen a workforce.
A proactive recruiter, like nufuture, can help you audit your current capabilities and balance them against future needs to assess which skills matter most so that you can future-proof your business. We can help you determine whether to upskill your existing workforce or hire strategically to fill immediate needs.
Bridging your organisation’s skills gaps should be a gradual, deliberate blend of upskilling your existing workforce and bringing in fresh skills as and when they’re needed. We can support you in making intentional decisions about skills development or acquisition so you can stay adaptable, attract the right people, and build teams capable of driving future success.
For more information about whether upskilling or hiring is right for your organisation, contact us.