By Lisa McLaughlin, Waters Corporation
An influx of venture capital in the biopharmaceutical sector that began in 2020 has continued over the last two years, leading to a record number of IPOs across today’s burgeoning industry. This, combined with a focus on niche drugs targeting smaller patient populations over the last decade, has resulted in a tectonic shift toward the pursuit of large molecules and new modalities. Now, with more drug companies vying for a piece of the proverbial pie, the competition for staff with specialized training and skillsets is heating up, where a skills gap between what is learned in academia and what is needed to be successful in a regulatory compliant environment is a concern.
This is especially true for contract organizations (COs), as the growing demand for competent partners is putting a strain on their available capacity and talent. Oftentimes, existing staff who are actively engaged in critical operations for the company must be pulled away to help onboard new members. This can result in a delay in work as well as high attrition, due to the increase in responsibilities and overall burnout. A lack of in-house resources can also have an impact on the sponsor company depending on the CO’s services.
Therefore, as sponsors continue to turn to contract organizations (COs) for support, rapid onboarding strategies can be a key differentiator in the increasingly competitive CO space. Download the article complete to find out how instrument vendors can play a critical role in decreasing the training timeline for new and even existing staff.