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Majority of Biotech/Pharma Employees Poised to Job Hunt
Date:7/15/2014

a. "Executives must work closely with their HR departments to promote a positive working environment." 

A flexible work environment is another major topic for employees, especially those within the biotech and pharma companies. According to Randstad Pharma's 2014 Workplace Trends Report, 49 percent of pharma executives said they are now offering home or remote work options, versus 36 percent of executives from other industries. "This is the reality we now live in," stated Coir. "Today's employees want attractive options and being able to offer those flexible arrangements can be a powerful retention tool and offers employers access to a larger talent pool."

Why the Potential Turnover?
To illuminate why this sector is likely to experience higher than average turnover, the Randstad survey reveals the top reasons employees would leave their current organization:

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

The biotech/pharma professionals surveyed are very clear on what their employers can do to impact employee engagement and improve retention.

  • Recognition: Recognize employees for their contributions and achievements (38%)
  • Flexibility: Be flexible or accommodating in terms of hours or working arrangements (37%)
  • Reward: Offer promotions/bonuses to high-performing employees (36%)

"Both established and start-up biotech and pharma organizations must retain top talent to continue to drive innovation, quality, and timeliness," said Coir. "With the clear possibility of workforce volatility, companies can
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SOURCE Randstad US
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