By Isabel Tehan, Worcester Business Journal
Attracting and diversifying a robust talent pool is a primary concern in keeping up with the growth of the life science industry in Massachusetts, according to the 2023 Massachusetts Life Sciences Employment Outlook report released Wednesday by the Massachusetts Biotechnology Education Foundation, an education and workforce development nonprofit based in Cambridge.
“The life sciences industry is constantly evolving and growing to require new skill sets from its workforce. We must adapt how we educate, develop, attract, and retain current and future life sciences talent to ensure that we keep up with the industry’s needs,” Sunny Schwartz, CEO of MassBioEd, said in a Wednesday press release.
Massachusetts has experienced 14.6% growth in life science employment since 2019, compared to 9.4% growth in the U.S. overall, according to the report. There are more than 132,000 total life sciences jobs in Massachusetts, and the report projects an added 42,000 net new jobs by 2032.
The growth of the industry and related new jobs is currently outpacing the life science workforce pipeline, according to the report. An estimated 6,600 key life science jobs will need to be filled each year over the next decade, but annual figures for eligible new hires in these roles averages approximately 3,000.
The report offers several recommendations for better retention of life science talent from Massachusetts educational institutions, both in keeping graduates in state and in the life science industry. Top recommendations include development of hybrid employment programs, which train workers in technical and managerial skills, suggestions for life science companies to invest in post-secondary outreach, similar to Waters’ Corp. in Milford’s internship program, and promotion of life science careers among non-STEM students for roles in sales, finance, and marketing.
Find original article at Worcester Business Journal.