Navigating the Talent Shifts in the Life Sciences Industry across the MEA Region
As a leader in executive search for the life sciences sector across the MEA region, I’ve observed a significant trend over the past 18 months: Major multinational companies are undergoing considerable changes, including restructurings, downsizings, and relocations of key roles from the UAE and KSA to regions like Jordan, Lebanon, Turkey, Egypt, and India, signalling a shift in the talent landscape of the life sciences industry.
The primary driver behind these moves has been cost reduction. However, these strategic shifts come with a few counterproductive effects:
Impact on Brand Image and Reputation
The downsizing and relocation of roles can affect the brand image of these companies, potentially diminishing their appeal in the eyes of top talent and stakeholders.
Rising Talent Pool in the Middle East
The Middle East has emerged as the most dynamic market in the life sciences industry for 2024. With an increasing number of job seekers and top talents in the region, there’s a noticeable shift towards seeking opportunities in SMEs (Small & Medium-sized companies), where stability and growth prospects are more assured.
Retention over Recruitment
In response to these market dynamics, SMEs are focusing heavily on retention strategies. Investing in comprehensive retention plans has become crucial as companies strive to maintain and nurture their talent pools amid market uncertainties.
The Need for Strategic Partnerships
Simply having a well-known brand is no longer sufficient. Companies are increasingly partnering with executive search experts to refine their retention strategies and attract top talent effectively.
In today’s competitive landscape, a robust approach to both retaining and attracting talent is key to success.
If your organization is navigating these changes or looking to strengthen its position in the market, let’s connect and explore how we can support your talent strategy.
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