In this 2023 prediction piece, Lisa Owens, managing director, and Jerry Temko, managing director, In-House Counsel Practice, Major, Lindsey & Africa, argue that the life sciences hiring landscape prepares to be busy as companies look to recent big tech redundancies to source data-savvy legal talent.
Key insights:
- Companies are increasingly on the lookout for both generalists and tech-savvy in-house lawyers who have the extensive privacy, regulatory and compliance expertise required to digitalise operations.
- Developing creative, non-monetary solutions to secure the best in-house legal brains can help differentiate pharma companies from law firm competitors, who have typically relied on high salaries to entice talent.
- As a truly global industry, pharma is well placed to leverage remote working models to attract in-house legal brains globally.
Whilst many businesses may be considering how they approach team growth amid economic headwinds this year, the pharmaceutical hiring landscape in 2023 looks set to be busy, with companies looking to capitalise on recent big tech redundancies to source industry-savvy legal talent. In fact, in-house lawyers will arguably be more in demand than ever, as pharmaceutical companies seek out talent to help oversee the current economic turbulence. However, despite a promising outlook for the sector, pharma companies will face stiff competition in the war for talent, so they will need to get creative to successfully recruit and retain the top in-house legal brains.