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When it comes to online trading, you will have to make all of your trading decisions all by yourself. This approach is poles apart from how you trade in the conventional world of trading. In the real world scenarios, you put your proposal on the desk and usually ask stakeholders for their input and advice. However, in the online world, you have to make decisions instantaneously. 

Regardless of whether you trade in the real world or indulge in online trading on platforms such as STR Capital, always remember that there will be risks involved. Here are some advantages and disadvantages associated with online trading. 

5 Advantages Associated With Online Trading

Online trading is evolving in sophistication and growing in popularity amongst the traders. There are over 14 million households within the United States of American that have an account with a service offering online trading platform. These are the real numbers published by Statista, a well-reputed statistics company. 

With e-trading or online trading, you will have to control all the aspects of the trading procedure. This approach is in contrast to using a traditional stockbroker, who offers advice and input about what you should do next. 

Anyway, let us have a look at the benefits of online trading, such as STR Capital. 

1. Lower Fees

One of the clearest and promising benefits of using online trading is the reduced fees and transaction costs usually associated with conventional brick-and-mortar trading entities. According to Bloomberg, you will probably pay as low as $5 to $10 to indulge in online trading on platforms. 

2. More Flexibility and Control

We all know that time of the essence when it comes to trading and online trading is no different. The speed associated with online trading portals can prove to be vitally beneficial for you as an investor. As an online trader, you can execute any transaction almost immediately. 

3. Ability to Eliminate Brokerage Bias

Once you take your trading to an online trading platform, you literally take matters in your own hands. This helps you avoid brokerage bias, which usually occurs when a broker offers you a piece of financial advice that is more beneficial for the broker than yourself. This benefit to the broker can be in the form of high commission for selling or buying certain mutual funds and other ventures. 

4. Online Tools at Your Disposal

In the online trading world, lower costs and fees do not mean the product or service is necessarily shoddy. Many online trading platforms in the present day offer their traders and customers an impressive and extensive suite of useful tools. These tools can help you optimize your trades and provide you valuable information on various aspects of using the platform to your advantage. 

5. Ability to Real-Time Monitoring Your Investments 

There are many online trading websites offering trade information and stock quotes to their online traders. These aid the traders by making it easier to see how their financial investments are performing in real-time. 

5 Disadvantages Associated With Online Trading

Just like anything in life, online trading also has a set of shortcomings. These are as follows. 

  • The convenience of investment online makes it fast-paced, and it can get overwhelming too fast on time. 
  • No personal interaction or relationship with online brokers
  • Because you just have to sit on your couch and do it. Online trading is somewhat addictive in nature. 
  • Online trading obviously 100% Internet-dependent. 
  • You are prone to making buying errors in case computer freezes or malfunctions during the trading process at any stage. 

Conclusion

Every trading opportunity comes with its own sets of challenges, advantages, and shortcomings. Therefore, knowing them in advance can give you a competitive advantage to safeguard your capital investment. Now that you have the basics knowledge of the pros and cons of online trading, you can decide if it is something you want to indulge in. 

If there is an industry that can benefit from the services of web design companies it would definitely be the fashion world. Regardless of whether one follows the trends or not, fashion sites have a huge impact on consumers. It is for this reason that fashion companies invest into high quality creative and efficient web page designs.

What is Web Design?

According to About.com, an online information resource, web design is the process of planning and creating a website for a business or organization. The goal is to ensure that the products or services are promoted online in an efficient way.

Planning the website includes different elements such as layout, color, font and images. Website design is all about making the business’ site appealing to prospects to increase the possibility of making a sale. The site should also be user friendly so customers can get the information they need to decide whether to do business with the company.

One of the misconceptions of web design is that designers need to be experts in coding to be able to create an efficient web site. However, a basic knowledge of the technical side will be sufficient. Designers can work with developers who take care of the coding and the actual writing of scripts and other web languages.

In order to ensure that the site designed can deliver results, there are different aspects that need to be focused on. These include the following,

SEO – SEO and local SEO optimization improves the ROI of developing and maintaining a site. SEO or search engine optimization is a marketing technique which makes the site more visible to online users. With more and more people beginning to use the net as a way to find products and services they need, having a high ranking on the search engine result page or SERP becomes invaluable.

Optimizing the site with SEO makes it easier for consumers to find your company online. Every time a person uses a search engine for what they need, your business becomes one of the top recommendations. SEO and local SEO are not services that you would need to pay for. Becoming more successful on organic searches can be a part of web design services.

Designers ensure that the content on your website will work with the algorithms used by the search engines. The elements used in the algorithms include keywords, links and content.

Information Architecture – This is the process of planning out the layout by classifying the information that will be included in the site. Its function is basically to give the designer an outline of how to design the site so that the information is arranged logically.

Speed – One of the biggest factors in web design is how long it takes for the content to load. Consumers tend to lose interest if images or articles take too long to load, so they end up leaving the site. This usually happens when the design contains too much data in one page. Designers need to be able to recognize this to avoid loading issues that impact the business.

There are three types of web design used by top website design companies, fixed, fluid and responsive. Fixed web design is ideal for sites that are only accessed on desktops and laptops. The design has a static width that works with traditional display options.

Fluid or Liquid web design is also a type that works best with desktop and laptop computers. The difference between fixed and fluid is that the latter adjusts to the size of the window it is displayed on. Grids become narrower on smaller windows and get enlarged or wider when the browser is maximized.

Responsive web design was created to address the increasing need of making sites accessible through mobile devices. In the past, when users checked websites on their tablets or smartphones, they usually had content and display problems. Either the website was too large for mobile or the content would not show properly. As a result, companies had to create different sites for mobile and desktop.

Responsive automatically adjusts how the site is displayed on the device being used. This means businesses didn’t need to spend on building and maintaining two similar sites.

Common Features of Web Design

For a web design for business to be effective, there are essential features that need to be included. Knowing what these are can serve as a guide in choosing the right web design developers for the business.

Business Information – Consumers consider the lack of business and contact information as a red flag when browsing online. They often decide not to purchase from site’s that don’t display details about the business.

Logical Layout – A website is essentially a virtual store. And just like a physical one, it needs to be arranged in a logical manner. For example, a trip to the supermarket can become very stressful when the items are not arranged properly. Aisles that are stacked with random products make shopping confusing. Customers do not want to spend a long time finding what they need.

A website contains products and services offered by the business. By creating web pages for different types of products, online shoppers easily find what they want quickly.

Security – Identity theft and fraud are probably the two most consumer dreaded words. Customers need to know that they are protected while shopping online because they will be sharing sensitive information over the net. The information includes credit or debit card numbers as well as other personal identifiable information or PII details. So, the website design needs to include elements such as SSL that encrypt the communications between the customer and the website.

Quality Hosting Services – Hosting is something that a business owner should never scrimp on. Getting a competent 24/7 assistance is crucial for a site’s success. Emergencies tend to happen at all hours, so having the security of knowing that support will be available can be a huge relief.

In addition, speed plays a key role in ensuring profit. Ironpaper, an online resource for marketing information reported that 40% of people leave a website that takes more than 3 seconds to load. That’s almost half of the prospects that could have been converted from traffic to consumer.

FAQ – This essential feature is often overlooked. Online users will always have questions and getting the answers could be the deal breaker. By ensuring that the web design includes a page for frequently asked questions can help improve customer experience. There would be no need to send emails or call the company to get the information needed. And since customers get the answers sooner, the chance of them making a purchase is higher.

Fashionable Web Design Solutions

Creative web design and the fashion industry go hand in hand like peanut butter and jelly. Below are some solutions that are used by some of the fashion world’s biggest names.

Stunning Pictures – Fashion is all about creating an image that makes a statement. When creating that image, paying close attention to details is crucial. The little black dress is timeless mainly because of the various accessories that are used with this elegant style. A pearl necklace or a colorful scarf can turn a simple outfit into a fashionable ensemble.

Pictures are the accessories that make a fashion site a delightful and at times sinful experience. Seeing images of immaculate high heels with a dramatic background transform these into something consumers desire to own.

In addition, the pictures help customers virtually experience the product before they make the purchase. For example, if the site sells chandelier earrings, the different images that show models wearing the accessory gives the buyer an idea of what it would look like on them.

Colors – Fashion sites are known for the creative play of colors used in the web pages. From pastel shades to the standard white background, web designers for fashion sites use color to enhance the products offered. Black creates drama, red lights up passion while white implies simplicity. The different moods and emotions created by colors are endless.

Website designers use different color palette techniques to boost the impact of the products. By applying contrasting and complimenting hues, the customers’ attention is immediately drawn to the items being displayed.

Sound or Music – Hip fashion sites have a more powerful impact with videos or slides that have the right background music. Pop songs or instrumental music make the online experience more fun so customers are drawn to stay and keep looking at the products.

The music also sets the ambiance which stimulates the customer’s imagination. They start seeing and feeling how it would feel for them to wear the clothes, accessories and shoes they are viewing. This increases the chances of them buying what they see so they can experience it for real.

Website design company reviews of fashion sites show that working with experts is the best way to ensure that you get the best results.

Regulations applicable to buildings constructed since 1986. The old building stock is not subject to any obligation; a risk against which condominiums must protect themselves. 

Recommended equipment

Fire safety in collective housing is a recurring issue, which resurfaces with each human tragedy brought to the fore. It must be said that the old stock, that is to say the majority of the buildings, escapes any regulation in the matter. And for good reason it is recent, and of non-retroactive application; in other words, it only concerns constructions built after its entry into force. In 1970, a first text relating to the protection of residential buildings against fire was published, which is still little developed. But it will take almost two decades for a real device to be put in place.

The Right Installation Options

Still in force today, it imposes on buildings, with a gradation according to the number of floors, not only construction rules, but also safety equipment in the common areas, with an obligation of maintenance. Because preventing the risk of fire is essential. And this applies to new buildings as well as to old ones. They also have every interest in adopting an ad hoc policy, even when the configuration of the premises does not allow the regulations applicable to new construction to be transposed. A policy that concerns both common areas and housing: fires usually have a private origin. It is therefore up to the occupants of the building to get involved, if only by providing themselves with a suitable fire extinguishers orlando fl and fitted with smoke detectors. A bill intended to make the latter compulsory in private areas is in this regard under discussion in Parliament. The dry riser installation happens to be essential there

Four families of buildings

The current regulations on fire safety, based on a decree of January 31, 1986 (OJ of March 5), impose on the owners of buildings that have been the subject of a building permit application after March 6, 1986 a certain number of information and maintenance obligations. As for the construction rules aimed at ensuring fire safety, they apply to all construction projects which have been the subject of a declaration of completion of work after January 1, 1988, regardless of the date of filing of the application for a building permit. In other words, all recent and new constructions are supposed to be covered by this regulation. Agents of technical equipment centers, which are decentralized departments of the ministry, will carry out a posteriori control within two years of construction.

The requirements set are not identical in all buildings, classified by families according to their height: single-family house and buildings whose height does not exceed eight meters: first family beyond eight meters and up to three floors: second family; less than or greater than twenty-eight meters in height, i.e. seven floors, third and fourth families. Beyond fifty meters in height, specific regulations apply.

Basic equipment

From the design of the building, the project manager must integrate a certain number of protective devices or equipment. First of all, it must provide for the “enclosure” of the stairwell, in other words protection on each floor provided by a landing door, intended to prevent the spread of smoke. Only constructions of less than eight meters escape this obligation.

 

Are you tired of trying to make money at day trading and you just keep losing? It can get discouraging at times. To start with there are the noisy charts meant to control your emotions. But there is a new and better way – that will increase your ability to start trading and doing well. This new way cancels out all the noise and simply encourages when to buy and when to sell and does it unemotionally.

Machine trading

This is a system of trading that offers you the opportunity of being the best you can be. It offers you three things:

  • Great algorithms;
  • Community that is great;
  • Content that is triple A class.

And you can find all three with a new and novel software system for machine trading.

Algorithms

This is not complicated tools for trading. These algorithms are simple, scanning the markets in real-time. It will let you know when to buy or sell by a forex signal service that produces signals based on your history and information about trades that are available sent right to you text or email. These daily signals make trading simple and most users can see a rate of success that is up to 8 times that of most average traders.

Community

When you join this trading community you will find yourself right at home. There are over 2800 members who are active and who are interested and are inside their chat room each and every day. They support each other – and inform you more on the success that they might have had.

Content

The content you will find will also help with the goal of making trading more profitable for everyone who uses this software for machine trading. This is just another reason why this auto trading system will often times get you from zero to trading profitably in one day.

So, if you are tired of losing your money – you might want to try this software for machine trading to see if it might turn you around with your trades.

The global COVID pandemic has changed our idea of essential things. Things like toilet paper, sanitizers, and face shields have made it to the top of our daily essential needs now. Various companies are working towards producing and providing frontline workers and common people with all the important equipment needed to keep ourselves protected from the virus. Lately, the 3D printing community has proved to be a crucial part of this global crisis, by providing us with quality face shields for protection. Many people have found it to be more helpful than masks for varied reasons. But there are many people who are making their own face shields and trying to start a business of their own. Well, here are some of the reasons why home-made face shields are not ideal:

  • No guidance used- Many manufacturers have repurposed their 3D printers to provide proper medical equipment like face shields for hospitals and frontline workers. Many are not even taking any profits in return. However, these face shields are made with the guidance of medical experts followed by rigorous testing and then produced in bulk. On the contrary, home-made shields are made with zero guidance and hence cannot be considered eligible/safe for use. 
  • Precautions and cleanliness- Manufacturers and companies producing these face shields have been in the industry for a long time. They have proper resources and materials to produce a well-tested visor made with precautionary measures and care. Most of the home-made face shields may not be made using necessary care. During this time of global crisis, where prevention is of utmost importance, it can be very risky to go for DIY face shields.
  • Improper measurements and design- As said above, medical face shields require proper guidance while making. It needs to be designed in such a way that the measurements are accurate and suitable for all. Improper design and unplanned production of face shields can cause a lot of problems for those who will be using them. When you opt to use home-made or DIY face shields, chances of them being either too loose or too tight are high. Also, the materials used in their making may not be ideal for hospital use, etc.

In this regard, purchasing the right face shield has become easy since companies like Lezar 3D face shields sell their 3D printed face shields online for your personal use.

Applying for personal loans online is an excellent alternative to receive a certain amount of money quickly. In USA, this financial service became a solution for many people when they have to face debts, financial crises or make investments or business restructuring.

The online personal loans are in high demand during quarantine to overcome the economic difficulties facing the country as a result of the global outbreak of COVID-19. In a social context where work activities cannot be carried out normally, generating income is a daily challenge as well as keeping expenses up to date. Therefore, loan applications are a growing trend, especially those requested through fintech companies. For the online loans no credit check this is important.

What to consider when applying for online loans in USA

In the first instance, the company that will provide the loan must be defined. To do this, it is important to know what limit the company offers and if it adapts to the amount that the client needs. Once the company has been defined, it is necessary to stop and read carefully the requirements to apply for the credit and, each person, evaluate if it meets them. Fintech as an example, the main requirements are just 3: being over 18 years old, having an Argentine DNI and being the holder of a bank account to be able to provide the CBU.

  • There is no need to request more money than necessary: ​​organization is vital. Therefore, the sum requested must have a clear objective and adjust as much as possible to that value. Asking for extra money can lead to over-indebtedness.
  • When requesting a loan, you should analyze whether the amounts and the payment terms can be really met to repay it. For this, it is necessary to take conscience and commitment on the financial reality of each one. Analyzing income in depth is essential in this type of transaction. In this way, it is avoided that the client then has to ask for a loan to pay a previous one or to indebt itself unnecessarily.
  • Finding out about basic finance concepts is another tool for the client to be in a position to understand the transaction they are making and to hire the most suitable product for their purpose.

To define the contracting of a credit, the Annual Equivalent Rate (APR) must be evaluated, this encompasses the total cost of the loan, including commissions, interest and expenses to measure the final value to be paid.

Once the credit is obtained, the payment terms must be respected. Paying the fees in a timely manner prevents the applicant from paying interest and penalties. Furthermore, most companies evaluate the behavior of their customers using a point system. This is very beneficial for the compliants since, creating a good credit profile, the companies grant them in their next credits broader amounts and better payment terms.

Complication

Finally you have to read the terms and conditions of the lender before signing the contract. This instance allows reviewing the payment conditions and what happens in the event of a default. Of course, in case of any doubt or query, the client can contact the entity and request a copy of the document.

All the manufacturing units are forced to increase their packaging and their shipping supplies budget year after year. This could prove to be highly concerning for the manufacturing units as this will have a direct impact on the overhead costs and in turn, the product cost making a product less competitive in the industry.

As a part of cost control measures taken by your company, you should also focus on buying your fire retardant corrugated boxes, polyethylene bags, shipping tapes and the other shipping supplies at the most competitive prices.

You will of course find shipping supplies in all price ranges. You cannot however, blindly order some random product without taking into account the product quality. The shipping and packaging supplies that you are ordering should serve their purpose of protecting your products from damages caused during shipping and handling. If they are not going to serve this process then it is not worth considering such products just under the pretext of cost savings.

Taking into account these considerations, you have very limited options. You cannot compromise on the quality but you should be saving money too. Look for wholesale packaging company companies that manufacture and distribute their own products to source your shipping supplies.

When you source from a manufacturer directly, you will not have to pay any commissions to the intermediaries. This will bring substantial savings. You need not have to compromise on the quality of the shipping supplies that you are likely to order once you purchase directly from the manufacturer. You should know that no dealer or agent would be able to sell shipping supplies at a price that is lower than the manufacturers cost. If you are finding shipping supplies at prices that are lower than the manufacturer prices then it is a clear indication that the quality of the products you are ordering would be questionable.

Find manufacturers that have been in the industry for several years. Such manufacturers would have invested a great deal on brand image building and reputation building. When you source from a company with a long-standing history, you could be sure of the overall quality of the shipping supplies.

Further to that, you should also consider ordering all your shipping supplies from a single supplier. When your supplier sees that you have a huge buying potential, they would want to keep you happy by providing you with better rates and the best quality. This will be for your advantage. On the other hand, if you deal with multiple suppliers, then your orders will be distributed among them. You will not be able to claim volume discount from any of the suppliers.

By keeping all these factors in mind while sourcing your shipping supplies, it is possible to bring down your shipping supplies sourcing expenses considerably. You need to work only with top-class manufacturers only then you could be sure of getting the finest quality shipping supplies. Never lose sight of quality when you are sourcing your shipping supplies.

Most parents consider college an important investment in their child’s future. However, covering its costs can be difficult. According to Sallie Mae, Americans spent an average of $26,226 for the 2018-2019 academic year. Nearly a quarter of them (24 percent) had to borrow money to do so. Given this fact, it’s easy to see why graduates of four-year colleges owe an average of $29,000 when they enter the workforce.

It’s a burden that is only going to get worse. College Board data also shows that tuition and fees at colleges and universities continue to increase. In fact, between 2019 and 2020, the average published tuition and fee prices at public four-year institutions has risen by $2,020 per year.

Fortunately, there are tools parents can use today to make college more affordable for their children in the future. One such tool is a qualified tuition plan, also known as a 529 plan. These plans are tax-advantaged savings plans sponsored by states, state agencies, and educational institutions.

What is a 529 Plan?

There are two varieties of 529 plans: prepaid tuition and education savings. While the education savings plan variety is probably better known, a 529 prepaid tuition plan may be a more comfortable option for parents who are concerned about market fluctuations and the continually rising costs of obtaining a college education.

As its name implies, a 529 prepaid tuition plan allows you to pay for your child’s tuition and fees at a public, in-state college or university well in advance. But its usefulness goes much further than that, as the purchase is made at today’s tuition prices.

Furthermore, unlike a 529 education savings plan, the funds you deposit are not invested in a portfolio that will grow or shrink in value based on market performance. Instead, they’re guaranteed by the state sponsoring the plan and, in many cases, their full value is protected from market fluctuations.

Additional 529 Prepaid Tuition Plan Benefits

In addition to protecting your investment from market turbulence and allowing you to lock down the cost of your child’s future tuition and fees, 529 prepaid tuition plans offer other benefits including:

  • Flexible contributions through installments or as a lump sum.
  • Tax-free earnings growth and tax-free withdrawals for tuition and fees.
  • Depending on the state, you may qualify tor tax deductions or credits on your prepaid tuition plan contributions.
  • Investment is guaranteed to keep pace with inflation, and there are generally no income limits.
  • A high contribution limit with the maximum determined by the state sponsoring the plan.
  • Minimal impact on other financial aid.
  • These plans are transferable if your child is awarded a large scholarship or decides not to attend college at all.

529 Prepaid Tuition Plan Disadvantages

Of course, as with any financial product, 529 prepaid tuition plans also have disadvantages:

  • The enrollment window is limited to once a year. If you miss the deadline, you’ll have to wait until the next enrollment period.
  • You may have to pay an enrollment or application fee in addition to ongoing administrative fees.
  • You or your student must be a resident of the state sponsoring the plan and attend a public college or university in that state.
  • Room and board, books, and other supplies are not considered qualified expenses.
  • Withdrawals for non-qualified expenses can result in a 10 percent penalty as well as federal and state tax implications
  • If your family moves to a new state before your child enrolls in school, or your child wants to attend an out-of-state school, you will not receive the full benefits of your plan.

Consult Your Financial Planner Today

If you’d like to save for your child’s future education and reduce the financial burden of paying for a college degree he or she will have to bear, it may be worthwhile to speak with a financial advisor about a 529 prepaid tuition plan as well as the alternative savings vehicles available.

For some parents, a 529 education savings plan may be a better option. Others choose to go with a brokerage account, custodial account, or borrow against cash-value life insurance. Your financial advisor will help you evaluate all the options and choose the best tool for your situation.

Launching any new product poses many challenges. But food product launches in particular are hard to get right. Your new food product needs to be something people want and can afford to buy. And you need to know the seasons/timing of how consumers buy (and how they buy) for your product to enjoy a successful launch. To help, we’ve compiled the seven most vital things you need to do to give your food product launch the best chance of being a success:

 

  • DO YOUR RESEARCH

 

You can save yourself a lot of wasted time and money by making sure no one else out there has a product that’s similar to yours. Customers want new, innovative flavours and food,  and you need to make sure your food product stands out from whatever else is on the shelves, otherwise your launch risks falling flat. You’ll also need to know the laws that relate to food production and distribution, as this will affect your launch strategy.

 

  • SURROUND YOURSELF WITH A GOOD TEAM

 

Crucial to your success is having people around you who are as passionate about your food product as you are. You simply won’t be able to do everything yourself to launch your product. So delegating to talented people you can trust to do a great job is going to be vital to ensuring your product launch makes waves and captures the public’s imagination.

 

  • GET YOURSELF AN AMAZING PITCH

 

You need to get food buyers excited about your product so they really want to be one of the first sellers to stock your product. That means getting a great retail sales buyer pitch designed and written. The content of this should focus not only on your brilliant new product, but also on how it can attract extra footfall to the buyer’s store.

 

  • DESIGN SOME AWESOME PACKAGING 

 

When it comes to food products, it’s not just what’s inside that counts. Your new and unknown product is going to be up against other, more established brand names, all competing for consumers’ attention and basket space. So you need to ensure your packaging accurately reflects your food product and sells it in a way that catches the eye. There are also packaging guideline laws that you need to adhere to.

 

  • SORT OUT YOUR DISTRIBUTION NETWORK

 

Perhaps this should be the first point, as it’s arguably the most important when it comes to successful launches. Put simply, if customers can’t find your product, they can’t buy it. So you need to sort out a reliable distributor to ensure that your product is readily available.

 

  • GET THE PRICE RIGHT

 

How much to charge for your food product – that’s often the million dollar question. The answer lies in taking the cost of your product’s food, packaging and labor costs and multiplying that number by three to get a rough estimate of your product’s retail price. You’ll also need to take into account how much it’s going to cost to launch your food product to market, plus your operating costs once you’re up and running. It’s also necessary to bear in mind that you will need to set aside a pot of funds for marketing your product.

 

  • DEVELOP AN EFFECTIVE ONLINE PRESENCE

 

Every product needs to be in the digital space, as that’s where your potential customers spend much of their time. So make sure your website portrays your product in the best light, and use your site to generate interest ahead of launch and take pre-orders of your food product (if possible). This will not only help you generate vital early funds, but also enable you to see how popular your product is with consumers. Also, set up Facebook, Twitter and Instagram accounts for your product and use them to spread the word and generate interest about your food product launch.

Tags: in store retail sales, retail sales and merchandising

Large pharmaceuticals companies at present are facing a sort of mini-crisis vis-a-vis high skill biotech recruiting. There are a number of reasons behind these. One is the sudden and somewhat explosive growth in the pharmaceuticals and life sciences industries.

The growth has meant a sudden sprouting of a large number of startup biotech companies. These are the startups looking to exploit the new opportunities opened up in the sector of drug development and they are posing a stiff competition to larger biotech and pharmaceuticals when it comes to hiring and retaining the top talents in the industry.

A Global CEO Survey report published by PriceWaterhouseCooper’s relates that close to 51 percent of the CEOs in the industry are having a hard time attracting, and more crucially, retaining the top talents.

Another reason for this recruiting challenges faced by human resources departments of large biotech companies is the technological shift the industry has been experiencing in the recent times. Due to the adoption of big data analytics and AI, the biotech employers have no choice but to recruit tech-savvy talents. However, this means that they are being made to compete directly with techno giants such as Google and Apple. And these last names should suffice to indicate that this is a battle that biotech companies will find difficult to win.

This is not all, however. The present recruitment crisis is also owing to the fact that there are not enough candidates with both life sciences and data skills. Many experts in the field opine that the reason for this shortage in skill sets can be traced back to a lack of practical training opportunities in the university level. And this is understandable and only to be expected since it is not possible for educational institutions to keep pace with the rapid growth in the industry and evolve at the same rate.

So, when it comes to biopharmaceutical manufacturing processes, especially those around process development, data analytics and engineering, this shortage of required skill sets is hurting the large biotech farms. This is directly reflected in the long lead times in the industry. It is becoming increasingly difficult for biotech companies to fill a high skill opening in a relatively short time. Often the process takes as much as several months. Now, long lead times mean that they are directly affecting the bottom line of the companies. Since a slow hiring process does not only mean a hike in hiring costs but also that the companies are potentially missing out on truly qualified candidates.

Biotech recruiting crisis: technology to the rescue again

So, how is the industry coping with these new recruitment challenges? Although it still cannot solve the entire problem, many senior HR professionals from the industry have already put their faith in technological hiring processes. In other words, the companies are taking the recourse of AI-based hiring platforms with a bid to offset the challenges mentioned above. For one thing, the AI tools are really efficient, thanks to data analytics, when it comes to matching the right candidates to a particular position. Additionally, these tools have also proved to be a big help in filling up high-volume recruitments.

Want to read more? Check out this Lifesci Advising blog today.