How the Balance Has Shifted

The life science hiring landscape is inherently dynamic and ever changing. While recent years have favored job seekers, the tables have turned to an employer-driven market for hiring. With a resurgence of an employer-driven marketplace, organizations hold greater leverage in recruitment with an abundance of candidate applicants. This shift fundamentally alters hiring strategies—are you prepared to navigate it effectively?

Understanding the Employer-Driven Market

An employer-driven market is where there are more qualified candidates than job openings available. Key factors driving this market include:

Economic Uncertainty – Funding challenges and budget constraints have led to industry-wide layoffs, increasing the number of available candidates.
Industry Consolidation – Mergers and acquisitions in the pharmaceutical and biotech sectors have reduced the number of available positions, intensifying competition among job seekers.
Increased Candidate Supply – Restructuring, downsizing, offshoring, and technological advancements have accelerated the influx of highly skilled professionals into the job market.

And the results of these conditions include:

Extended Hiring Timelines – With a surplus of applicants, companies are taking longer to ensure the right fit, leaving candidates on the market for extended periods.
Shifting Negotiation Power – HRO Today Association reports that 22% of companies are offering lower salaries than they did last year for some positions at their company. (click here)

Hiring Strategies for Success

As the balance of power shifts, life science employers must refine their hiring strategies to attract and retain top talent. Here are some of the top initiatives to focus on with the move to an employer-driven market.

1.Refine a Quality Focused Hiring Process

With more candidates to choose from, ensuring efficiency with resume selection, candidate screening and interview processes is critical. Looking at talent assessment tools, devising improved applicant tracking system (ATS) workflows and assessing your talent network can ensure alignment between candidates and job duties. If hiring is slow, refining these processes will position companies for long-term talent acquisition success, ensuring you’re prepared to quickly and efficiently secure top talent when hiring needs increase.

2. Offer Competitive Yet Sustainable Compensation Packages

While salary isn’t the sole factor in job acceptance, competitive pay remains critical. Companies that haven’t adjusted salaries to match inflation often face hiring challenges and high turnover rates. To attract and retain talent, compensation structures must remain competitive and sustainable, even when candidate supply exceeds demand.

3. Hire Internally and Retain High-Performing Employees

Workday research found that internal candidates were 82% more likely to be rated “top performers” than external hires (click here) An employer-driven market does not negate the importance of employee retention. Organizations must invest in professional development and internal mobility opportunities. Those that fail to support career growth risk losing valuable talent to competitors that prioritize employee development.

4. Utilize AI in the Recruiting Process

With the rise of one-click applications, Recruiters are inundated with applications for most roles, often with candidates completely unqualified for the position. AI can help optimize hiring and increase efficiency in several ways. According to the Korn ferry Talent Trends 2025 Report (click here), the top three ways employers plan to innovate talent acquisition are:

using AI to enhance resume searching
using automation tools to manage candidate relationships
increasing people analytics in hiring and workforce planning

5. Promote Employer Value Proposition (EVP) to Attract Top Talent

Even in an employer-driven market, companies must position themselves as desirable workplaces. People care about what employers deliver, not just what they offer and companies need an authentic employer value proposition (EVP). This entails showcasing workplace culture and research innovations, engagement in corporate social responsibility and prioritizing diversity, equity, and inclusion (DEI) efforts. While some companies may scale back DEI programs, maintaining a commitment to diversity enhances employer reputation and attracts a broader talent pool.

The life science hiring market continues to evolve, presenting both opportunities and challenges. By focusing on these 5 hiring strategies, employers can excel in hiring while maintaining a competitive edge. Employers who proactively adjust their hiring strategies will emerge as leaders in the employer-driven market.

For further information on resources to help you excel in 2025 talent acquisition initiatives, contact Jackie Cassidy at BioLink 360 (click here).