Unlocking Workforce Efficiency in the Life Sciences Industry

The life sciences industry is growing quickly, but this growth brings new challenges. As companies push for innovation in areas like drug development and medical devices, they face complex workforce issues. Many are turning to flexible staffing options, like freelancers and contract workers, to fill skill gaps and keep up with evolving demands. In fact, contingent workforce usage in life sciences firms is expected to grow at a compound annual growth rate (CAGR) of 10.1% from 2022 to 2028.  

While an extended workforce that combines permanent employees with contingent workers increases a company’s agility, it also adds administrative challenges. nextSource offers Managed Service Provider (MSP) solutions that make it easier to manage this workforce. By handling sourcing, onboarding, and payment and administration of these resources and the agencies that provide them, we allow companies to stay focused on advancing healthcare and science. 

Key Challenges in Life Sciences Workforce Management 

The life sciences field presents several unique workforce challenges. Let’s explore some of the most pressing issues: 

• Fragmented Sourcing: With multiple suppliers and sourcing partners, workforce management can get complicated. To find needed talent, companies often have to manage numerous sourcing channels, leading to inefficiencies. This problem is especially pronounced as companies increasingly rely on contingent workers to keep up with evolving demands in areas like data analytics, digital health, and decentralized clinical trials. 
• Onboarding and Offboarding: The hiring needs in life sciences are diverse. For example, decentralized clinical trials (DCTs), which became popular during COVID-19, require short-term roles that can be hard to fill. Contract workers can help, but only if they’re onboarded quickly and efficiently. When onboarding takes too long, it delays projects, leading to higher costs and missed opportunities. When critical screening steps are skipped, risks increase. 
• Lack of Visibility: Managing a contingent workforce without real-time data can create blind spots. Companies need visibility into talent gaps, costs, and compliance, especially as they navigate complex projects like cell and gene therapy, which require specialized skills. Real-time insights can help decision-makers allocate resources effectively and reduce inefficiencies in these advanced areas. 

How nextSource’s MSP Solutions Help 

nextSource addresses these challenges with solutions tailored to meet the specific needs of the life sciences industry: 

• Centralized Management: Our MSP solutions provide a single platform for managing all workforce needs, from working with suppliers to fill roles and onboard resources to day-to-day administration. This centralized approach reduces redundancies and makes it easier to keep projects on track. For instance, as sites deal with capacity issues (some with backlogs of 30-50 studies), our centralized system can ensure that resources are allocated effectively to prevent delays. 
• Efficiency Gains: By speeding up the onboarding and offboarding processes, we help life sciences companies keep up with the demand for specialized skills in areas like decentralized trials and complex therapies. We also support worker redeployment, allowing skilled contractors to transition between projects as needed. This approach saves both time and costs by reducing the need for repetitive onboarding. 
• Data-Driven Decisions: With real-time data and analytics, our solutions help companies identify skill gaps, make quick adjustments, and allocate resources efficiently. For example, as the industry increasingly relies on real-world evidence (RWE) in studies, data-driven insights become essential for deploying contract labor early in the process. Our platform enables companies to predict staffing needs and match skills with open roles, especially for in-demand positions like data scientists and AI specialists. 

The life sciences industry is in a time of rapid change, from rising product complexity to evolving regulatory requirements. To keep pace, companies need a flexible, efficient approach to workforce management. nextSource’s MSP solutions empower companies to meet these demands by streamlining processes, cutting costs, and enhancing operational efficiency. By leveraging our expertise, life sciences companies can adapt their workforce plans to stay competitive and innovative.  

Ready to prepare your team for the future of life sciences? Contact us today to find out how we can support your workforce management needs.