Key trends transforming industry workforce and the recruitment ecosystem in 2022

Human Resources: In the recovery phase of the pandemic, Pharma, medtech and biotech companies continue to evolve in response to changing customer, consumer and business needs. Such change is accompanied by a shift in hiring dynamics as well as candidate perspectives.

Maree Paras, Associate Director of Paras and Partners and Vanessa Meikle, Founder & CEO of Hunton Executive, joined Health Industry Hub in reflecting on how corporate recruitment has evolved since the start of the pandemic and the major shifts from a candidate perspective. They discussed the dynamics and key trends that will be transforming the workforce and recruitment ecosystem in 2022.

Maree Paras said “There is not a candidate shortage out there. What we are seeing are candidates reflecting and revisiting their personal values during the pandemic and hence are more selective in the roles they are seeking moving forward. Organisations need to become more employee-centric businesses to engage people from a recruitment perspective in addition to how they are going to retain their staff.

“Organisations need to look at diversity, benefits, employee development and how to engage their people. Globally, 46% of people in their current positions have thought about changing jobs because 80% of their engagement has dropped off. So, there are some concerns out there which makes it harder for us recruiters to engage talent.”

Vanessa Meikle added “There are two different types of candidates on the market at the moment. There are the active candidates that unfortunately, in the last 18 months, were made redundant. They are applying for jobs and ready and willing to take on a new opportunity. On the flip side, organisations are more risk averse and more selective than they have ever been before. They don’t just want the ‘what’, they want the ‘who’ – they want that perfect unicorn.

“The other type of candidate is the passive candidate. There are more passive candidates on the market that I have ever seen before, especially at the senior level. People are asking, what are my values? What do I want? Am I feeling challenged? Am I feeling inspired? Am I feeling valued where I am? And if I’m not, where can I be?”

Vanessa reflected on the key trends that will transform recruitment in 2022. “In conjunction with that [the war on talent], you now have, what people are talking about in the market as the great resignation. As staff start returning to the office, you are going to see a real uptake in people looking for new positions. Financial packages, wellbeing packages, your EVP and employer brand is a hygiene factor. The differentiator is going to be trust. Do you have a psychologically safe environment? Do you put people first? Do you have strong leaders, and do you support your leaders to give the right resources to your employees?”

Maree and Vanessa went on to explore and discuss the war on talent, the importance of a digital mindset across the organisation, and hybrid models of working as key dynamics that will impact recruitment in the new year.