Job Security - Pharmaceutical Technology

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Annual employment survey results show greater confidence in the pharma industry.


Pharmaceutical Technology
Volume 36, Issue 12


PHOTOGRAPHY BY DAN WARD; MIKE HARRINGTON/GETTY IMAGES
The spate of large mergers that dominated the news a few years ago seems to be slowing, but bio/pharmaceutical companies still face pressure to run leaner businesses and to see a better return on investment from their R&D divisions. The global economy continues to limp along, and pharma faces pricing pressure from cost-conscious payers and from developing countries determined to hold the line on drug prices. The industry continues to adapt to this challenging business environment, and these challenges cannot help but affect pharma employees. Pharmaceutical Technology asked readers about their employment situations: how secure they felt in their positions, how satisfied they are with their jobs, and how they see the future of their companies and the global industry. The following pages highlight key results from the survey.

The level of employment insecurity is dropping among biopharma employees. Year over year, fewer respondents say they feel less secure in their positions than they did the year before. In 2010, 53% said they felt less secure. This dropped to 41% in 2011, and this year, only 34% were feeling less secure. While this seems encouraging, readers did not say they felt more secure. Instead, an increased percentage (47% this year) said they felt about the same as last year. It seems, then, that pharma employees are becoming accustomed to the new, more fluid business environment. Is insecurity becoming the new normal? Perhaps, but respondents felt confident they would be able to find a new job if they had to, and they continue to derive satisfaction from the intellectual stimulation and challenging projects associated with their jobs.

The difficult economic climate is being felt by those in the industry. A third of respondents, 33%, indicated that business had declined over the past year. Yet, respondents were upbeat about the future, both for their own companies and for the industry as a whole. Only 34% expect business at their own companies to decline next year, with the rest expecting either no change (18%), or an increase (48%). When asked about the industry as a whole, 49% said they expected business to improve. Next year will bring its own set of challenges for the industry, but let's hope that this optimism is well founded.

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Survey
FDASIA was signed into law two years ago. Where has the most progress been made in implementation?
Reducing drug shortages
Breakthrough designations
Protecting the supply chain
Expedited reviews of drug submissions
More stakeholder involvement
Reducing drug shortages
33%
Breakthrough designations
11%
Protecting the supply chain
39%
Expedited reviews of drug submissions
11%
More stakeholder involvement
6%
View Results
Jim Miller Outsourcing Outlook Jim Miller Health Systems Raise the Bar on Reimbursing New Drugs
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerThe Mainstreaming of Continuous Flow API Synthesis
Jill Wechsler Regulatory Watch Jill Wechsler Industry Seeks Clearer Standards for Track and Trace
Siegfried Schmitt Ask the Expert Siegfried SchmittData Integrity
Sandoz Wins Biosimilar Filing Race
NIH Translational Research Partnership Yields Promising Therapy
Clusters set to benefit from improved funding climate but IP rights are even more critical
Supplier Audit Program Marks Progress
FDA, Drug Companies Struggle with Compassionate Use Requests
Source: Pharmaceutical Technology,
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