Published on February 3rd, 2023
In a survey by Statista, it was found that the pharmaceutical industry is expected to grow at an annual rate of 5.39% by 2027, resulting in a market revenue of US$1,435.00bn.
Suppose the pharma market is all set to grow at such an exponential rate. In that case, there is obviously going to be a demand for pharma personnel and thereby rapidly shooting up pharmaceutical hiring in the coming days.
Let's talk a little about the pharmaceutical industry before jumping into the whole hiring situation.
The pharmaceutical industry is one of the largest and most important industries, employing a significant number of people across various job roles. The industry is responsible for the research and development, manufacturing, marketing, and distribution of medications and other pharmaceutical products.
It is a dynamic and fast-growing sector that plays a critical role in improving human health and well-being. The pharmaceutical industry is also characterized by intense competition, with companies vying to develop the next breakthrough drug or therapy. This has led to significant investments in research and development, as well as partnerships and collaborations with other companies and academic institutions.
Research and Development (R&D): R&D roles involve developing new drugs and therapies. This includes conducting pre-clinical research, designing and running clinical trials, and analyzing the results. These roles require advanced scientific degrees, such as a Ph.D. or a medical degree. Job roles such as Research Scientist, Microbiologist, Biomedical engineer and Food scientist come under this category.
Quality Control/Assurance: Quality control and assurance roles involve ensuring that drugs and medical devices are safe, effective, and meet regulatory standards. This includes performing inspections, testing products, and reviewing manufacturing processes. These roles often require a degree in a scientific field, as well as experience in quality control and regulatory compliance.
Manufacturing/Production: Manufacturing and production roles involve creating drugs and medical devices on a large scale. This includes overseeing the manufacturing process, maintaining equipment, and ensuring compliance with regulations. These roles often require a degree in a scientific field, as well as experience in manufacturing or engineering.
Sales and Marketing: Sales and marketing roles involve promoting and selling drugs and medical devices to healthcare providers and patients. This includes developing marketing strategies, educating healthcare providers, and managing sales teams. These roles often require a degree in marketing, business, or a related field, as well as experience in sales and marketing. Check out HireQuotient’s Pharmacist Sales Representative Test.
Clinical Operations: Clinical operations roles involve managing clinical trials, including designing protocols, overseeing data collection, and managing study sites. These roles often require a degree in a scientific or medical field, as well as experience in clinical research. Job roles such as Clinical Trial Associate, Clinical Pharmacist, and Clinical Trials Administrator come under this category.
Regulatory Affairs: Regulatory affairs roles involve ensuring compliance with regulations and securing approval for new drugs and medical devices. This includes preparing regulatory submissions, managing interactions with regulatory agencies, and monitoring changes in regulations. These roles often require a degree in a scientific or legal field, as well as experience in regulatory affairs.
Medical Affairs: Medical affairs roles involve providing medical information and support to healthcare providers, patients, and internal teams. This includes developing medical communications, educating healthcare providers, and managing clinical trials. These roles often require a medical degree or a degree in a related scientific field, as well as experience in medical affairs.
In terms of hiring, the pharmaceutical industry is highly regulated and requires individuals to have specific qualifications and certifications, depending on the job. For example, research and development roles often require a Ph.D. in a related field, while manufacturing roles may require specific technical certifications.
The hiring process in the pharmaceutical industry can be lengthy and rigorous, involving multiple stages such as resume screening, interviews, assessments, and background checks. Due to the highly competitive nature of the industry, job seekers are often required to have strong academic backgrounds and relevant work experience.
In recent years, there has been a trend toward increased hiring in the pharmaceutical industry. This is due in part to the aging population and the increasing demand for new and innovative medications to treat a variety of health conditions. Additionally, there has been a growing focus on developing treatments for rare diseases and personalized medicine, which has led to an expansion of research and development activities and increased hiring in this area.
One of the challenges facing the pharmaceutical industry in terms of hiring is the shortage of qualified candidates, particularly in highly specialized roles. This has led to increased competition among pharmaceutical companies for top talent, and a focus on developing strategies to attract and retain employees.
Here is a step-by-step guide to carrying out a successful pharmaceutical hiring rigmarole.
Job Posting: The hiring process begins with the job posting, in which the employer creates and posts a job description for the position they are seeking to fill. The job posting may be advertised on the company website, job boards, or other online platforms.
Resume Screening: Once candidates have applied for the position, the employer will typically conduct an initial screening of resumes to identify those who meet the basic qualifications for the job. This may involve the use of applicant tracking systems (ATS) that scan resumes for specific keywords and criteria.
Phone Screening: Candidates who pass the initial resume screening may be invited to participate in a phone screening. This is typically a brief conversation with a recruiter or hiring manager to discuss the candidate's qualifications and experience.
In-Person or Virtual Interview: Candidates who pass the phone screening may then be invited to an in-person or virtual interview. The interview may be conducted by a single interviewer or a panel of interviewers and may include behavioral or situational questions to assess the candidate's skills and fit for the role.
Skills Assessment: Depending on the job role, the employer may also require candidates to complete a skills assessment or a technical test to demonstrate their proficiency in a specific area.
Reference and Background Checks: Before making an offer of employment, the employer will typically conduct reference and background checks to verify the candidate's employment history, education, and any relevant certifications or licenses.
Job Offer: If the candidate successfully completes all of the above steps and is deemed the best fit for the role, the employer will extend a job offer. This offer may include details such as salary, benefits, and start date.
Onboarding: Once the candidate accepts the job offer, the onboarding process begins. This may include orientation, training, and other activities to help the candidate get acclimated to their new role and the company culture.
The pharmaceutical industry is constantly evolving, driven by advances in science, technology, and changing healthcare needs. As a result, the hiring landscape in the industry is also changing, with new trends and practices emerging. Here are some future trends in pharmaceutical hiring that are likely to shape the industry in the years to come:
If you are a recruiting manager or an HR looking to hire pharma employees in the near future, here are some tips that come in handy.
Pharmaceutical companies need to find top talent with specialized skills and knowledge in order to keep up with the rapidly evolving industry. However, sourcing and attracting these candidates can be a challenging task.
We can help to streamline the talent acquisition process by using AI algorithms and predictive analytics to identify the most qualified candidates for the job. By leveraging this technology, you can save time and improve the efficiency of your hiring process.
One of the most time-consuming aspects of the hiring process is screening resumes. HireQuotient can help to automate this process by using AI-powered algorithms that scan resumes for specific keywords and criteria. This can help to identify the most qualified candidates for the role and improve the accuracy of the screening process. By reducing the amount of time spent on resume screening, you can focus on more strategic tasks such as candidate assessment and engagement.
Once candidates have been identified, HireQuotient can help to automate the interview scheduling process. This can save time and reduce the workload, allowing one to focus on other aspects of the hiring process. Additionally, HireQuotient can provide real-time data analytics and insights into the hiring process, helping employers to identify areas for improvement and optimize their recruitment strategies.
Another benefit of using HireQuotient for pharmaceutical hiring is the ability to assess candidates using a range of assessment tools. This includes cognitive tests, behavioral assessments, and skills tests. By using these tools, you can ensure that candidates have the necessary skills and competencies for the role. This can help to reduce the risk of hiring mistakes and improve the overall quality of the candidate pool.
In summary, HireQuotient can help pharmaceutical companies to streamline their hiring process, reduce time-to-hire, and find the best candidates for their open positions. By leveraging the power of AI and data analytics, you can improve the accuracy of your screening process, assess candidates more effectively, and make more informed hiring decisions.
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