Tania de Decker, Managing Director—Global Strategic Accounts, Randstad Enterprise Group11.09.22
One of the biggest challenges facing the medtech industry is accessing digital talent who help drive innovation and facilitate the commercialization of great ideas. These professionals include roles such as product engineers, AI specialists, digital marketers, and regulatory affairs professionals.
Many of these professionals, however, are also in demand from other sectors, specifically mainstream tech giants, pharmaceutical companies, and other manufacturers. In my June 2022 column, I highlighted skills in high demand, as outlined in Randstad Sourceright’s Global Future In-Demand Skills Report.1 The good news is there are abundant numbers of cybersecurity professionals, data scientists, and blockchain architects. The bad news is in some markets, there are more vacant jobs than qualified potential applicants.
The medical device industry is in the midst of a market revolution driven by changes in healthcare. Digitalization during the pandemic became even more critical to the life sciences industry, especially for medtech manufacturers. The proliferation of remote care, IoT (Internet of Things), patient care data and analytics, and new IT systems has accelerated innovation in nearly every diagnostic and therapeutic area.
Keeping up with these transformative trends, however, requires device makers to massively invest in new and emerging skills for R&D, clinical trials, manufacturing, sales, user training, and servicing. Whether it’s talent driving innovation behind a PMA device or supporting a 510(k) application, the path to product success now relies on a broad set of digital competencies at every step of the commercialization process. And therein lies the challenge.
Competition for these kinds of skills has been heating up,2 and medtech companies (like those in many other sectors) have been focusing on bringing in the best digital talent to support immediate and long-term growth. The reality, however, is hiring your way to workforce success in today’s scarce labor market is not a sustainable strategy.
It can be costly, time consuming, and burdensome. Furthermore, new hires aren’t always a great fit for your organization, and inevitably, there will be turnover within the first year of hire, leading to higher costs and disruptions in workflow. Talent acquisition is an important part of any company’s talent strategy, but it shouldn’t be the only way to build a robust workforce.
The myriad benefits of reskilling and upskilling employees is compelling. Beside producing a workforce ready for changes in technology and the marketplace, an effective learning and development program also enables individuals to better control their career trajectory within the organization. By focusing on the skills they desire for their career development, workers can become specialists for the roles they seek. This path of self-determination leads to higher engagement, satisfaction, and even pay. Further, data shows there is ample appetite for more skilling. Randstad’s 2022 Workmonitor survey of more than 17,000 workers found that 88% say they would make use of learning and development initiatives if provided to them.4
There’s no question career development and mobility are accelerated through skilling. In fact, more and more digital talent end up in their roles coming from non-related jobs. One study from McKinsey showed 44% came from roles that were not technical in nature, and these professionals grew their salaries more than twice as fast as those who had a technical background.5
Most notable in the study is the fact that workers who became tech professionals later on acquired more new skills—defined as skills “distance” by McKinsey—than those who began their careers in technical jobs. They are believed to be more capable of learning and applying new skills.
To accomplish this, focus on the following four areas of learning and development.
1. Determine which areas of the business are expected to see digital transformation.
Even though most device manufacturers have started their transformation, the journey for many is just getting underway. Assess whether the demand for digital skills will be based on function (HR, marketing, regulatory, etc.) or by lines of business (orthopedic, telemedicine, disposables, etc.).
Perform skills mapping and scenario planning based on key milestones expected for products in the pipeline. With the approval of a new device, how will this impact the need for digital marketers, for instance? By understanding where the business is headed, skilling initiatives become much more valuable.
2. Identify people with the right soft skills and potential to learn; offer them additional learning opportunities.
As McKinsey’s study indicates, workers capable of shifting their careers into digital roles exhibit a keen ability to adapt and thrive. These individuals typically possess strong teamwork and communication skills, as well as natural curiosity. These soft skills are important to any role, digital or otherwise.
Provide those individuals who are interested in transitioning into technical roles additional resources so they can accelerate into new career paths. Don’t forget coaching can further enhance their learning experience, in addition to the technical training they’ll need to get the job done.
3. Map out adjacent skills and the learning “distances” from one job family to another.
Making the transition from managing clinical studies to coding firmware might be a leap too far, so consider which skills are pragmatically adjacent. Be realistic about how long it might take to sufficiently train employees to take on other roles.
An employee who spends too much time and resources to learn a new skill set means two roles will be left unfilled—the employee’s current job and the one they intend to fill. In these instances, it makes more sense to simply acquire external talent that possesses the right competencies.
4. Offer continuous learning opportunities to nurture an always-ready workforce.
As a dynamic business that is always innovating, the medical device industry needs a workforce capable of building, as well as one that uses new, effective technologies. This requires sustained training and development, especially for the skills necessary to drive digital transformation. Regularly assess how the business is evolving and determine how upskilling fits into an overall strategy of buying, building, or borrowing the requisite talent.
References
Tania de Decker is the managing director of global strategic accounts for Randstad Enterprise Group. She works with Fortune 500 companies to develop and implement processes that improve and drive recruitment and retention solutions. de Decker has more than 28 years of recruitment experience and has worked over 18 years with life sciences companies. The emphasis has always been improving the quality of her clients’ talent acquisition.
Many of these professionals, however, are also in demand from other sectors, specifically mainstream tech giants, pharmaceutical companies, and other manufacturers. In my June 2022 column, I highlighted skills in high demand, as outlined in Randstad Sourceright’s Global Future In-Demand Skills Report.1 The good news is there are abundant numbers of cybersecurity professionals, data scientists, and blockchain architects. The bad news is in some markets, there are more vacant jobs than qualified potential applicants.
The medical device industry is in the midst of a market revolution driven by changes in healthcare. Digitalization during the pandemic became even more critical to the life sciences industry, especially for medtech manufacturers. The proliferation of remote care, IoT (Internet of Things), patient care data and analytics, and new IT systems has accelerated innovation in nearly every diagnostic and therapeutic area.
Keeping up with these transformative trends, however, requires device makers to massively invest in new and emerging skills for R&D, clinical trials, manufacturing, sales, user training, and servicing. Whether it’s talent driving innovation behind a PMA device or supporting a 510(k) application, the path to product success now relies on a broad set of digital competencies at every step of the commercialization process. And therein lies the challenge.
Competition for these kinds of skills has been heating up,2 and medtech companies (like those in many other sectors) have been focusing on bringing in the best digital talent to support immediate and long-term growth. The reality, however, is hiring your way to workforce success in today’s scarce labor market is not a sustainable strategy.
It can be costly, time consuming, and burdensome. Furthermore, new hires aren’t always a great fit for your organization, and inevitably, there will be turnover within the first year of hire, leading to higher costs and disruptions in workflow. Talent acquisition is an important part of any company’s talent strategy, but it shouldn’t be the only way to build a robust workforce.
Acquire Skills by Building Competencies
The growing skills gap in medtech in recent years has led many companies to reconsider their human capital strategies, and some are increasing their budgets for learning and development to address this challenge. In fact, Randstad’s 2022 Talent Trends survey of human capital and C-suite leaders in the life sciences sector finds that 67% believe reskilling and upskilling employees is an effective way to address talent scarcity, and 40% are spending more to do this.3The myriad benefits of reskilling and upskilling employees is compelling. Beside producing a workforce ready for changes in technology and the marketplace, an effective learning and development program also enables individuals to better control their career trajectory within the organization. By focusing on the skills they desire for their career development, workers can become specialists for the roles they seek. This path of self-determination leads to higher engagement, satisfaction, and even pay. Further, data shows there is ample appetite for more skilling. Randstad’s 2022 Workmonitor survey of more than 17,000 workers found that 88% say they would make use of learning and development initiatives if provided to them.4
There’s no question career development and mobility are accelerated through skilling. In fact, more and more digital talent end up in their roles coming from non-related jobs. One study from McKinsey showed 44% came from roles that were not technical in nature, and these professionals grew their salaries more than twice as fast as those who had a technical background.5
Most notable in the study is the fact that workers who became tech professionals later on acquired more new skills—defined as skills “distance” by McKinsey—than those who began their careers in technical jobs. They are believed to be more capable of learning and applying new skills.
Prepare for Future Skills Needs
Considering the scarcity of digital skills and the importance they play in commercializing the next CT imaging device, joint replacement, or IVD kits, medical device manufacturers will need a comprehensive workforce strategy that includes a blend of externally acquired resources (permanent hires, contingent workers, and statement of work talent) and mobile internal employees who can be readily redeployed where they are needed. This requires a robust and well-planned skilling program that evolves with the business.To accomplish this, focus on the following four areas of learning and development.
1. Determine which areas of the business are expected to see digital transformation.
Even though most device manufacturers have started their transformation, the journey for many is just getting underway. Assess whether the demand for digital skills will be based on function (HR, marketing, regulatory, etc.) or by lines of business (orthopedic, telemedicine, disposables, etc.).
Perform skills mapping and scenario planning based on key milestones expected for products in the pipeline. With the approval of a new device, how will this impact the need for digital marketers, for instance? By understanding where the business is headed, skilling initiatives become much more valuable.
2. Identify people with the right soft skills and potential to learn; offer them additional learning opportunities.
As McKinsey’s study indicates, workers capable of shifting their careers into digital roles exhibit a keen ability to adapt and thrive. These individuals typically possess strong teamwork and communication skills, as well as natural curiosity. These soft skills are important to any role, digital or otherwise.
Provide those individuals who are interested in transitioning into technical roles additional resources so they can accelerate into new career paths. Don’t forget coaching can further enhance their learning experience, in addition to the technical training they’ll need to get the job done.
3. Map out adjacent skills and the learning “distances” from one job family to another.
Making the transition from managing clinical studies to coding firmware might be a leap too far, so consider which skills are pragmatically adjacent. Be realistic about how long it might take to sufficiently train employees to take on other roles.
An employee who spends too much time and resources to learn a new skill set means two roles will be left unfilled—the employee’s current job and the one they intend to fill. In these instances, it makes more sense to simply acquire external talent that possesses the right competencies.
4. Offer continuous learning opportunities to nurture an always-ready workforce.
As a dynamic business that is always innovating, the medical device industry needs a workforce capable of building, as well as one that uses new, effective technologies. This requires sustained training and development, especially for the skills necessary to drive digital transformation. Regularly assess how the business is evolving and determine how upskilling fits into an overall strategy of buying, building, or borrowing the requisite talent.
Conclusion
The skills gap in the medtech sector will not diminish anytime soon. If anything, it will likely worsen as demand for life-improving and life-saving medical devices grows, spurred on by the aging demographics of the largest healthcare markets. Companies won’t be able to hire their way to workforce success in today’s highly competitive, talent-led economy. Only through an effective approach to upskilling and reskilling will manufacturers be able to manage their human capital needs.References
Tania de Decker is the managing director of global strategic accounts for Randstad Enterprise Group. She works with Fortune 500 companies to develop and implement processes that improve and drive recruitment and retention solutions. de Decker has more than 28 years of recruitment experience and has worked over 18 years with life sciences companies. The emphasis has always been improving the quality of her clients’ talent acquisition.
