The sun was shining on this year’s J.P. Morgan Healthcare Conference, as over 8,000 industry leaders, investors, and innovators gathered in San Francisco to discuss the trends shaping our industry in 2025. Our team of experts in executive search across healthcare and the full pharma and biotech lifecycle also hit the ground running, forging connections and gleaning valuable insights into the trends shaping executive recruiting this year. For those of us in the search business, this annual gathering serves as a powerful lens through which we can see where the industry is heading, where opportunities are emerging, and what challenges lie ahead.
The conference once again served as a key gathering point, offering a wealth of insights into the current state and future direction of the industry. Among the most pressing trends was the discussion of mergers and acquisitions driven by healthier balance sheets and an urgent need to replenish pipelines ahead of looming patent expirations. The conference highlighted the promising potential of emerging therapeutic areas, particularly in immunology/inflammation and obesity, where the market is projected to reach $150 billion by 2030. Advances in artificial intelligence and digital health technologies also remained at the forefront, with companies eager to leverage these tools to accelerate drug development and improve patient care. Across the board, there was a strong consensus that innovation, whether in drug development, policy reform, or operational efficiency, will be a critical driver of growth and transformation for the sector in the coming years.
While these general industry trends garnered significant attention at the conference, the 17 Klein Hersh executive recruiters in attendance unearthed additional perspectives that extend beyond the headlines. Here’s a deeper dive into the key themes we observed and what they mean for executive search in 2025.
Cautious Optimism
While many attendees were upbeat about growth prospects, the underlying mood at this year’s conference was a realistic sense of cautious optimism, due to lingering economic uncertainty and sustained high interest rates.
Companies remained focused on raising funds and gathering data to support their fundraising efforts, and while a majority of organizations are feeling positive and hopeful for the year ahead, some reported an underlying sense of ambivalence due to uncertainty about the long-term market outlook. Also of note is that unlike previous years, where policy changes and election uncertainties dominated conversations, JPM 2025 also felt markedly less politically charged.
Despite the mixed tone, it’s evident that companies are actively hiring, and finding the right fit has never been more crucial. For Klein Hersh, the current environment has translated to a staggering 300% increase in inbound recruiting interest from 2023, reflecting the growing demand for talent in key areas, transformational pivots, and organizational changes to meet highly selective needs in the evolving landscape.
Funding and Talent: A Symbiotic Relationship
Similarly, the current funding environment presented a nuanced yet optimistic picture for our clients, with substantial capital still flowing and companies initiating new hiring searches, particularly in cutting-edge sectors like immunology, GLP-1s, neuroscience, ADC’s, and follow-on biologics. Most companies in these areas exuded confidence, backed by significant investment support.
Hiring needs are closely linked to fundraising efforts, with much of the demand increasingly tied to very specific inflection points. There has been more investment in clinical stage companies and organizations on the cusp of initiating clinical trials. Hiring in clinical is critical as many funding milestones are tied to growth and success within their clinical organizations. Investors have also become more selective, with fewer newcos launching, and those that do are more likely to be helmed by serial entrepreneurs and multi-time CEOs with proven track records.
Companies are under pressure to balance cost management with strategic growth, which means there is a greater emphasis on operational efficiency and multi-functional leadership – executives who can wear multiple hats and drive multiple functions with fewer resources. In the current funding environment, some companies are also opting for interim/fractional executives or consultants who can bridge the gap and manage key functions or projects without the long-term commitment and salary costs associated with full-time executive hires. While this trend allows for flexibility, at the same time it can limit the ability to build a cohesive, forward-looking leadership team.
The Evolving Talent Strategy
One of the most striking takeaways from this year’s conference was how companies are thinking more proactively about their talent strategy and setting a higher bar for what “good” looks like. Gone is the 2020-2022 mindset of rushing to fill leadership positions in the face of aggressive timelines or high-growth projections. Instead, we’re seeing a more deliberate, proactive approach to talent acquisition, with a greater focus on due diligence and succession planning, and companies taking extra time to evaluate fit, culture alignment, and potential for long-term impact.
At Klein Hersh, we’re encouraging our partners to invest more time in the interview process, incorporating various touchpoints and in-person meetings to get a comprehensive understanding of candidates’ backgrounds, motivations, and style. This approach helps ensure a better match between talent and organizational needs, potentially reducing turnover and increasing the probability of long-term success.
Competition for Top Talent Intensifies
Across the dozens of meetings our team held throughout the conference, one thing was clear. The competition for top talent remains fierce, particularly for experienced leaders in high-demand fields like clinical development, regulatory affairs, and in roles requiring expertise in specialized areas such as oncology, immunology, and neurology. Multi-time CEOs and executives with proven success in similar roles are especially sought after. C-suite executives, especially those in finance and operations, are in demand as companies look for leaders who can steer them through financial uncertainty and help drive efficient capital allocation.
Unsurprisingly, many candidates in these in-demand positions are already employed, making it all the more challenging to attract top talent. To stand out in this competitive landscape, organizations should focus on the quality of their assets, teams, culture, funding, and the overall opportunity they present. Providing clear communication, timely feedback, and a well-structured search process are also crucial in securing top talent.
Organizations need to offer much more than just a competitive salary to win top talent. They need to present a compelling vision and opportunity for growth, and should showcase that their organization is both an attractive destination for people to come, and a place they will want to stay.
Looking Ahead
Fresh off JPM 2025, it is our belief that this will be a healthy year for life sciences and healthcare, and the need for visionary leaders who can navigate this fast-changing landscape has never been greater. Klein Hersh’s team is deeply immersed in every facet of life sciences and healthcare and is primed to help clients meet the unique talent demands of 2025.
Since 1998, we have partnered with clients to deliver the visionary leaders shaping the future of life sciences and healthcare, because we believe that the innovation behind a healthier world starts with bringing the best and brightest minds together. Contact us today to start the conversation and discuss how we can help your organization fill these high-demand roles.
