Drug Development's Highest Quality Talent is Not Accessible by Traditional HR Means
LifeSciHub is an ever-growing network of independent drug development subject matter experts. Every year, more and more industry veterans leave the corporate ladder to become independent consultants. From manufacturing experts to medical affairs, in the new “MicroVendor” ecosystem, there is a vast abundance of the highest quality, most valuable drug development talent available to industry.
The average member of the LifeSciHub network has at least 20 years of industry experience. The most common reason for becoming an independent expert is wanting to practice their “craft” ie area of expertise. However rampant M&A, and downsizing has let many highly valuable experts to seek independent consulting, and thereby “diversify” their revenue generation across multiple drug sponsors (clients) instead of just one (as a full time employee).
Most drug sponsor have complex human resources systems, including carefully selected staffing agencies, built upon powerful traditional beliefs, such as: all workers prefer 40 hour workweeks, all workers are totally dedicated to the climbing the corporate ladder, the greatest achievement a worker can make is to be promoted to that next rung of the ladder, and so forth.
These beliefs are still true for the majority of workers. However the gig-economy has created a whole “new” class of workers- independent small businesses. In drug development, these are experts who, for a variety of reasons, don’t need or value traditional benefits such as health insurance and paid vacations. They prefer valuable, interesting project work over titles. They don’t need a guaranteed paycheck and in fact prefer to manage their own utility rates and, like any small business, they own the considerable risk of utility peaks and valleys. They recognize the value of diversifying that risk by having several different clients at a time. They see themselves as small businesses and want to pay taxes as the small businesses they actually are (1099). They do not want to be forced to be taxed as employees (W2) when they have none of the “benefits” associated with being an employee.
If a drug sponsor’s only way to engage expertise is through traditional human resources channels and thinking, the drug sponsor is missing out on this very valuable “new” pool of drug development talent. What is needed is a new way to engage, one predicated on resilience and agility, a channel that is designed for the Future of Work: LifeSciHub!
Let’s start the conversation today! Sheila@lifescihub.com