1 / 17

The Canadian bio-economy

The Canadian bio-economy. Colette Rivet, Executive Director, BioTalent Canada June 26, 2008. Methodology for LMI survey. Benchmark survey Definition of biotechnology Self-identification Only private companies 320 out of 1,154 companies responded. Biotechnology Concentrations by Region.

lenatolbert
Download Presentation

The Canadian bio-economy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Canadian bio-economy Colette Rivet, Executive Director, BioTalent Canada June 26, 2008

  2. Methodology for LMI survey • Benchmark survey • Definition of biotechnology • Self-identification • Only private companies • 320 out of 1,154 companies responded

  3. Biotechnology Concentrations by Region Significant expansion: 77.2% growth in # of biotechnology companies in Canada over past 20 years Regional distribution: Biotechnology companies are active in every region of Canada – not in isolated pockets

  4. Biotechnology companies by age Longevity: Has been active in Canada since 1911 – not a new endeavour

  5. Biotechnology companies by number of full time employees Full time employment: 8 out of 10 companies have fewer than 50 full time employees Workforce diversity: Nearly 4 out 5 companies have neither Aboriginal Peoples nor people with disabilities as part of their workforce

  6. Biotechnology companies by Total Gross Revenue Distribution Concentration on biotechnology: Companies surveyed spend an average of 70% of their budgets on biotechnology-related activities Revenue challenge: 21.8% of pharmaceutical companies generate revenues of less than $50,000 per year

  7. Development Stage • Cross-sectoral makeup: Majority of companies self-identify as being cross-sectoral and inter-disciplinary • Stages of development for primary & secondary products: R&D 59.1%; clinical/field trials 24.7%; production/manufacturing 20%; commercialization/marketing 46.5%

  8. Development Stage (cont’d) • Focus on R&D: Large companies are less likely to focus on R&D than smaller firms; 23.5% of companies with 6 to 20 employees have 3 or 4 products/services in R&D • Regional variance: From region to region, fairly similar numbers of products & services are in development • Product / service breadth: 25.2% of companies focus on 1 to 2 products (across all stages of development)

  9. Occupational Functions Full time employment: 8 out of 10 companies have fewer than 50 full time employees Contract workers: Atlantic Canada (38.5%); BC & AB (19.1%); Quebec (19.1%) have the highest proportions of contract workers

  10. Skills required in biotechnology Skills shortage: More than a third of companies are currently experiencing a shortage of skills • Knowledge of industry – 91.2% • Management / leadership – 91.2% • Business development – 82.1% • Marketing / communication – 81.6% • Partnership networking – 75.9% • Reading / writing skills related to the comprehension of GMP – 74.4% • Commercialization – 72.8% Training: 88.4% of employers pay for training; companies with 0 to 5 employees outspend more on training than larger firms – nearly $3 to $1

  11. Unfilled biotechnology positions Outsourcing: 55% of all companies outsource some skills or tasks, regardless of company size; IP (26.4%) & manufacturing (24.2%) are the principal functions outsourced

  12. Obstacles to companies’ development • Limited access to capital – 65.9% • Assistance with commercialization & marketing challenges – 49.1% • HR skills & capacities • Assistance with complex regulatory procedures – 41.8% • Qualified biotechnology research & technical experts – 40.4% • Management experts – 40.1% • Assistance with IP challenges – 33.1%

  13. Top Recruitment Challenges • Lack of candidates with required skill sets / experience – 57.4% • Insufficient capital/ resources to recruit appropriate candidates – 35.2% • Competition for qualified candidates – 33.9% • Excessive salary expectations – 26.5% • Unable to find candidates quickly enough – 25.2%

  14. Expected HR challenges in the next 3 to 5 years • Skills-related -- 45.9% • Shortage of skilled/experienced workers – 32.2% • Insufficient business/management/leadership skills – 8.4% • Financial, Economic or Regulatory – 35% • Limited access to financial capital – 14.4% • Inability to provide competitive compensation – 8.4% • Non-financial recruitment & retention issues – 30% • Inability to recruit & retain staff – 13.4% • Competition for skilled workers – 4.1%

  15. Conclusions • HR needs capital; capital is attracted by strong HR • Strategic / systematic approach • Companies, governments, educational institutions, job candidates • Right skills sets / HR tools / supply of job-ready professionals

  16. Recommendations • Role for all !! • BioTalent Canada as a facilitator • Critical mass in country • Recognition of skills – industry led • Interest in science • Experience • Identification of skills required • Labour market intelligence • Other sources of supply

  17. Questions? Splicing the data The critical role of human resources in Canada’s bio-economy A labour market report. www.biotalent.ca

More Related