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Half of pharma, biotech workers ready to job hunt, study finds

July 16, 2014

Employees in the U.S. biotech and pharma industries indicate high interest in near-future job changes, according to a Randstad Pharma Engagement Study released today. The study found that within the next six months, 51 percent of biotech/pharma workers are likely to seek out a job in a different company or organization, as compared to 38 percent of all employees polled.

Furthermore, should they receive an enticing job offer from another company, 66 percent of biotech/pharma employees are likely to accept, compared to 44 percent of all employees polled.

The top reasons employees would leave their current organization were: 

  • Inadequate pay: 36 percent
  • Lack of opportunity for advancement: 34 percent
  • High stress levels/difficult relationships with managers/co-workers: 29 percent
  • Difficult relationships with managers/co-workers: 29 percent

The most important factors when considering a position with a new company include:

  • Fair pay: A good reputation in terms of offering fair compensation: 94 percent
  • What others say: A reputation among current employees as a good place to work: 92 percent
  • Flexibility: Flexible/telecommuting work arrangements: 88 percent

In addition, professionals in this sector underscore the importance of company reputation; 69 percent said they are most influenced by word of mouth from current employees, 45 percent said they rely on input from family and friends, and 43 percent said they rely on information from the company’s website.

The Randstad Pharma engagement study is based on findings from an online survey of 2,257 full-time employees from April 1 to April 8, 2014.