Will Millennials Be Responsible For Shaping The Biotech Industry

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Millennials often have high expectations that their work will be meaningful and have a positive impact on the world around them. At its core, biotechnology is about improving human health and pursuing a passion for the greater good. In many ways, the biotech field is the healthcare equivalent to the millennial generation. The biotech industry should easily appeal to millennials. They’re proving that biotech could be the stepping stone to realizing the millennial vision of a better, brighter future, and the industry as a whole is starting to catch up.

This reduces the startup costs for breaking into the biotechnology field, eliminating a common concern for millennials who want to make a difference. As more barriers fall and more companies spring into action, it becomes obvious that the millennial generation is uniquely skilled to take biotech to the next level.

The openness of information and the comparative knowledge outburst of the digital era have made them more adaptive and comfortable with new concepts and ways of doing things. Millennials are also used to relying on digital products and global connectivity to verify their understanding, which makes it easier for them to build or add value to companies through core partnerships.

Biotech in the hands of millennials The connection between the goals of millennials and biotechnology is palpable, and it has begun to sprout amazing results. Many young companies with young C-suite execs, like M3 Biotechnology’s founder and CEO Leen Kawas, are already making their mark by tackling million-dollar diseases, including Alzheimer’s and Parkinson’s.

If a child is severely burned and needs a skin graft, biotech could prevent disfigurement, which would also help that child feel better about interacting with society post-trauma. Millennials and biotech don’t just look to the world of the future; they also strive to improve how we presently care for past generations.

Bringing elder care into the digital world empowers older adults to utilize social media and cutting-edge technology to improve their health and overall quality of life. Technology marks the age of millennials, and biotechnology allows them to proactively share a worldview that is deepened by global connectedness.

4 things to consider when recruiting millennial talent

Despite the inherent similarities between millennials and biotechnology, recruiters face unique challenges in finding qualified young candidates to fill startup positions. Finding a balance between innovation and experience can be tough, but the biotech industry can narrow the recruitment odds by keeping a few things in mind:

1. Millennials think of things the general public hasn’t thought of yet. As innovators, millennials want to change the world, and many gravitate toward fields that the general public has not fully engaged yet (like the study of aging at USC). Individuals in these fields may be more likely to fit and interact with others in related research and healthcare fields so they can learn from one another.

2. Millennials who lead startups will attract more millennials. People are attracted to and work better with others who share the same culture, understanding, and view of life. Biotech companies that are started by millennials have a leg up on those that aren’t. But even older companies can take advantage of the dynamic by elevating worthy millennial talent within their own organizations.

3. Millennials respect creativity and humility. The generational gap between millennials and the previous few generations is vast, and one of the quickest ways to alienate any new generation is to be stubborn and condescending. Earn the respect of young talent by finding creative ways to explain your past experiences and make them relevant to today’s problems.

4. Millennials learn early; recruit them fast. Connecting with alumni networks and other university-affiliated programs will help you scoop up recent graduates first. Millennials who are just entering their careers may be fresh-faced, but they’ve likely already become familiar with state-of-the-art technologies and theories.

Like most millennials, those who are already leading the charge in biotechnology like to challenge the area that is important to them, especially if it’s not even fully recognized yet. Their vision must rise with a combination of interdisciplinary fields of expertise to solve problems globally. This is their social responsibility, and helping them work toward that goal is necessary if you want to attract more Millennial talent to the biotech industry.

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