Much has been made of the need to close the skills gap in Ireland’s medtech sector to meet future expectations, but what are the most useful skills for a professional in this industry?
This past summer, Irish Medtech Skillnet, Skillnet Ireland and Irish Medtech, released the KPMG Talent to Thrive: Future Skills for Ireland’s Medtech Sector 2024-2028 report, offering significant insight into future skill needs.
It indicated the rapid speed at which the medtech industry is growing, particularly in response to global trends such as accelerated digitalisation, AI and sustainability. With Ireland’s medtech workforce predicted to grow from 48,000 to 56,000 people in the next four years, considerable upskilling will be required to meet expectations.
So, what are the skills that are absolutely crucial to a successful career in the current medtech industry and how can they be adapted to an evolving sector?
Additional upskilling
Transversal skills are typically described as soft skills that are unrelated to a specific task and can be applied across a diverse range of roles and sectors. They are vital to the smooth running of industries, as hard skills and technical ability can only take you so far.
Cross-functional skills, such as the ability to communicate effectively, lead teams, problem-solve and think critically will always be in-demand, however, in relation to future skill needs, some areas require additional focus.
Take for example stakeholder management, which the report identified as a focus for professionals in regulatory, RD&I and HR roles. Despite being of particular relevance to these departments, the ability to develop strong relationships with internal and external stakeholders is a talent that can be applied in virtually every job across the medtech sector.
A greater understanding of commercial acumen is also an area that could be of benefit to people considering upskilling for the future. This is a skill that shows a professional’s proficiency in the underlying commercial aspects of a business, namely the factors that affect performance, the competitive landscape and issues related to finance, among others.
Upskilling in this area may be of particular interest to people who operate in HR as typically this is not a topic that up to now they would have had significant exposure to.
Sustainability awareness
It is no surprise that sustainability functions are a current and future skill requirement. According to a Healthcare Without Harm report, the healthcare sector, inclusive of the medtech industry, makes up more than 4pc of all global carbon emissions.
Medtech employers can encourage sustainable practice and upskilling in a number of ways, such as facilitating data-driven decision-making, which can enable companies to track processes such as resource consumption and make the best choices for the planet. Knowledge sharing with key players in the medtech ecosystem, particularly on topics such as product end-of-life management, can also be effective.
As businesses and whole industries continue moving towards a viable and sustainable future, a number of roles within the medtech sphere are likely to expand to meet new standards. Going forward and with CSRD auditing (corporate sustainability reporting directive) in mind, senior management and regulatory professionals should have the necessary skills to implement, audit prepare and report on ESG matters.
It is also likely that HR teams will have the scope of their job description broadened as they will be responsible for overseeing ‘green training’ and explaining company values to new hires. The shift towards sustainability is a positive move in the right direction and is undoubtedly the future of most, if not all industries, so definitely research how you can upskill in this area.
Digitalised HR
HR is a vital aspect of every sector, not just medtech, as the experts within this field have the power to influence hiring, training and policy. It is nearly impossible to find an industry operating in this day and age that has not been affected or irrevocably altered by mass digital innovation, and HR is no different, but soft skills are still important.
To cultivate a successful career in the HR space, professionals require a broad range of people-centric skills. Communication skills are a must, as is the ability to mediate disputes and effectively manage multiple people at once. Technical skills in administration and an awareness of new technologies are also valuable tools to have.
According to the KPMG report, HR is gradually morphing into a digitally-enabled function, connecting all other departments across the medtech sector. The adoption of remote and hybrid working models, coupled with the implementation of new training technologies has generated skill needs for people within the HR field.
As the digital age roars on and in light of the continued popularity of remote and hybrid work, HR teams will have to be trained in the use of digital communication tools. Additionally, some sectors such as manufacturing can not be fully adapted to a remote, online world. It will be the responsibility of HR leaders to skillfully balance the needs of all employees, in-person or not.
Ultimately, the medtech sphere is changing rapidly in response to global events and trends. Four years is not as far away as it sounds, so why not think ahead and start preparing for your future career today?
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