How To Win The War For Talent? Case Study In Biotech Related Industries of UK

The recruitment and retention of highly talented scientists has become a significant concern for many companies, especially for those whose principal assets consist of talented employees and their knowledge, rather than the tangible assets of cash, buildings or materials. The competition for good professionals has become more intense as companies have become aware that other companies may be wooing their valuable scientists. This research stemmed from a problem with one of the interviewed firms, which highlighted that it was getting more difficult to attract and retain highly talented scientists with Ph.D. degrees and a few years of experience. Thus, this research considers the scientists’ labor market in the first instance and identifies whether there is a shortage of highly talented scientists in UK. Then secondly the recruitment and retention practices in companies are examined carefully. The author interviewed five companies in biotech related industry: Smith & Nephew、Nycomed Amersham、Amgen、 Murex Biotech、Alkermes Europe. It was found that there is no shortage in the numbers of scientists who are freshly graduated from higher education and with two or three years of working experience in the labor markets. However, as the better and more experienced scientists become fewer in numbers, firms find it difficult to fill senior positions. This phenomenon is partly due to the fact that all the interviewed firms wanted to recruit the ‘best’ postgraduate scientists, with the academic background and social skills to assist in the firms’ growth and to contribute to their success.