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
Which of the following business challenge poses the greatest threat to your company?
Building a sustainable pipeline of products
Attracting a skilled workforce
Obtaining/maintaining adequate financing
Regulatory compliance
Building a sustainable pipeline of products
27%
Attracting a skilled workforce
27%
Obtaining/maintaining adequate financing
14%
Regulatory compliance
32%
View Results
Eric Langer Outsourcing Outlook Eric LangerBiopharma Outsourcing Activities Update
Cynthia Challener, PhD Ingredients Insider Cynthia Challener, PhDAppropriate Process Design Critical for Commercial Manufacture of Highly Potent APIs
Jill Wechsler Regulatory Watch Jill Wechsler FDA and Manufacturers Seek a More Secure Drug Supply Chain
Sean Milmo European Regulatory WatchSean MilmoQuality by Design?Bridging the Gap between Concept and Implementation
Report: Pfizer Makes $101 Billion Offer to AstraZeneca
Medicare Payment Data Raises Questions About Drug Costs
FDA Wants You!
A New Strategy to Tackle Antibiotic Resistance
Drug-Diagnostic Development Stymied by Payer Concerns
Source: Pharmaceutical Technology,
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