Employee confidence within the pharma, biotech and medical devices sectors is growing with 4 out of 5 professionals in the US citing they have no real concerns over their future job security, according to a new report published by Real.
Featuring insight from hundreds of pharma, biotech and medical devices specialists from across the US, 'Spotlight on: Staffing and retention' reports that market confidence in the industry appears higher than at any other time in the last 5 years, mirroring growing consumer confidence across the US.
Although there appears to be a renewed sense of confidence, the report also shows this confidence could have potential implications on the future growth and competitiveness of organisations, including a potential loss of top talent. With over three quarters of specialists intending to move roles in the next year, and better salaries, promotion prospects and a better work/life balance proving the key motivations for moving roles, the importance of an effective employer proposition is clear if organisations are to retain their best people in the months and years ahead.
With the sector showing early signs of a skills shortage, following the continued growth of the generics market and an increasingly migratory workforce taking advantage of international opportunities, the report illustrates how global factors such as legislation, the patent cliff, competition and outsourcing are impacting both companies and employees alike.
"Across the US we are seeing an increasingly motivated talent pool, seeking more from their employers," says Ben Muwoki, Senior Business Manager, Real.
"The significant growth we are seeing across areas of both the pharma & biotech and medical devices sectors is presenting new job opportunities, both locally and internationally, and this is presenting new challenges for employers as they fight to retain their top talent. As market confidence continues to grow, organisations must now turn their focus to developing a strong employer proposition and delivering on their promise if they want to compete in the newly emerged war for talent."