Riding the Employment Roller Coaster - Pharmaceutical Technology

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Riding the Employment Roller Coaster
2010 came with pay raises for those still employed and anxiety for all. This article contains bonus online material.

Pharmaceutical Technology
Volume 34, Issue 12, pp. 36-39

Job security

Figure 4: Sources of job stress (multiple responses were allowed).
Of course being employed is only part of the story. The other part of the story is how secure people feel in their jobs—and people don't feel very secure. While 53% of respondents report feeling insecure as compared with past years, insecurity runs highest in the US, where 55.3% of respondents felt insecure (15% feel more secure than they did in the past). The most secure workers live in India, where 25% of respondents feel insecure, and 37.5% feel more secure now than in years past. Half of the respondents from Western Europe feel insecure, and 54.5% of Canadian respondents feel insecure. Men and women feel almost equally insecure—with 54.2% of men, and 52.6% of women feeling insecure. Interestingly, more women—18.6%—report feeling more secure than they did in the past, as opposed to only 14.2% of men.

Figure 5: Company expansion plans.
Offering the greatest security are contract manufacturers and service providers, as 52.9% of respondents who work for these companies say their jobs are secure. Next most secure are workers in generic-drug firms, where 46.6% of respondents say their jobs are secure, followed by traditional bio/pharmaceutical companies with 39.2% feeling secure about their jobs. Biotech companies trail that with 38.9% of respondents reporting that their jobs are secure. Biotech companies also have the greatest percentage of workers who feel insecure about their jobs—38.9% of respondents from biotech companies said they feel insecure, as did 32.4% of respondents from traditional bio/pharmaceutical companies, and 27.4% of workers in contract service and manufacturing companies. Finally, only 11.1% of workers in generic-drug companies feel insecure in their jobs.

Of course, this year the economy continued to have profound implications for workers in the pharmaceutical industry, and 11.3% of respondents reported losing their jobs because of it. Canadians suffered the heaviest job losses, as 18.2% of Canadian respondents report losing their jobs, in contrast to 12.2% of US workers, and 6.7% of Western European works. Indian workers reported 0% job losses for themselves and their colleagues due to the economy. Workers in contract service and manufacturing providers lost the most jobs—29.8% of respondents in these companies report losses, followed by 10.1% in traditional bio/pharmaceutical manufacturers, 7.5% in generic companies, and 3% in biotechnology.

In the name of innovation
Among respondents that remain employed, 30.1% say their workday has become longer, and 23.5% report that they've taken on additional functions to fill in for lost coworkers.


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