SINGAPORE: 2020 Minimum Salary Increase for S Pass Applicants

The Life Sciences Talent Squeeze and Foreign-Born Workers

It’s no secret to MassBio members that the life sciences is on the front end of a significant boom. Fueled by innovation, collaboration, and accelerated funding, the signs of growth are clear. We’re seeing IPOs, overseas expansions, and an influx of venture capital financing into well-known Boston players. “There has…been a massive amount of investment, acquisitions, public offerings, and laboratory construction during a time when many businesses struggled to keep the lights on,” Scott Kirsner pointed out in his June 15 column. “The biotech sector seems poised to emerge from the pandemic as the city’s dominant and most visible industry.” With so much activity and opportunity, talent acquisition and development are struggling to keep pace. Karla Talanian dug into this topic in a recent MassBio post about how companies can continue to develop a workforce to meet the increasing industry demands. She noted that in Massachusetts, recruiting is more intense than the national averages: 18% of jobs require at least a Ph.D., compared with 12% nationally. The squeeze for such talent forecasts to be even tighter going forward: while the pursuit of doctorate degrees is high in this region, it is much lower nationwide. “Since recruitment for these individuals is typically conducted on […]