LifeSciHub Announces Workforce Survey Results
September 30, 2020 – LifeSciHub, an online resource marketplace designed for life sciences R&D, today announced results from their Second Annual Life Sciences Independent Workforce Survey.
The survey, which launched on June 1, 2020, targeted hiring managers, HR professionals, procurement, and independent consultants operating in the life sciences research and development space.
Response data showed a continuing demand for quality talent that is tempered by pervasive challenges of finding and engaging them. On the topic of use of consultants, 70% of sponsor project owners considerd independent consultants to be critical to drug development. This is true across multiple expertise domains such as clinical, pharmacovigilance, medical affairs, CMC, etc.
At the same time, the research indicated that Sponsors tend towards a significant overconfidence bias with respect to estimating future resource needs. Meaning, there is a very high likelihood that sponsors will find themselves shorthanded during critical projects but don’t adequately plan for that to happen.
Despite widespread perception that “talent” is a human resources or procurement challenge for the organization to solve the research revealed ambiguity as to who “owns” the independent workforce. This organizational gray area adds to the challenges of efficient and timely engagement of these “critical” resources.,
Sheila Mahoney, LifeSciHub CEO commented, “The lack of response from and visibility into HR and procurement, while disappointing, was itself a fascinating insight. This reinforces the idea that organizations struggle to engage non-employees in a way that both creates value for the project teams and achieves the compliance and control required by HR and procurement. This is exactly the problem LifeSciHub solves. We are excited to use these results to drive value for industry in the coming year and beyond.”
LifeSciHub will use these data to drive innovations in its product development activities and will also leverage these insights to inform go-to-market strategies targeting the various stakeholder groups.
Please visit www.lifescihub.com/survey to download the executive summary of the survey results.
LifeSciHub is a Gig, also known as Open Economy, marketplace platform dedicated to the independent workforce in life sciences R&D and the drug sponsors and vendor ecosystem that utilize them. LifeSciHub is a two-sided marketplace, considers both the enterprise and the independent consultant to be customers, and seeks to deliver significant value to both sides of that equation. From its marketplace technology, LifeSciHub enables the enterprise to embrace the unprecedented resilience and flexibility that only the Open Economy can deliver. LifeSciHub’s mission is to liberate precious research dollars from being spent on inefficient traditional processes and intermediaries, allowing that value to be redirected to the primary customer of all drug sponsors and independent consultants: the patient.