Hays Life Sciences
January - March 2012
Hotspots
With the rise of diabetes and other associated lifestyle diseases throughout Asia we are witnessing a continued trend of employers seeking commercially focused candidates in this area. Regulatory affairs and market access skills continue to be in demand in Singapore especially, however there is a reluctance on behalf of the hiring companies to cover relocation costs, let alone offer expatriate terms, from the established countries such as the US and Europe. This is continuing to make sourcing for these positions extremely challenging.
We are continuing to witness a huge consolidation in the global pharmaceutical market with no sign of a slowdown in mergers, acquisitions, restructures and spin-offs. Delivering shareholder value whilst maintaining an effective R&D budget requires a delicate balancing act in the face of numerous major players facing blockbuster drugs coming off patent.
Companies are continuing to invest in the Emerging Markets model (especially within Asia), with many departments being relocated to China, India and SE Asia.
Overcoming skills shortages
Hiring expatriates on expatriate packages is now a rare occurrence and employers have moved towards offering local packages. Employers often take on candidates directly at a junior level and train or internationally second them to get them up and running. They are also looking to internal transfers as the APAC region takes investment from the other markets for many companies. Outsourcing is also a popular solution wherever possible, however for manufacturing and commercial the duties cannot always be outsourced therefore employers need to hire externally.
The networks of life science professionals are relatively small and employers often know everyone in the local market within certain skill areas. This has obvious draw backs in terms of poaching and confidentiality which is why more employers are turning to recruiters.
The candidate talent pools are gradually changing with expatriates remaining attracted to relocating to Singapore for a higher salary, growth opportunities and a better life quality. As a result, recruiters are able to offer fresh candidates to employers.
The coming quarter
The Medical Devices market remains extremely buoyant and we expect to see an increase in the number of vacancies across all functions over the coming quarter.
Employer trends
Direct hires, internal recruitment and outsourcing and budget restraints are common trends and behaviours. Employers also seem to have a higher level of expectation and remuneration packages are not as attractive as they used to be, however we are seeing positive signs of change.
Candidate trends
Candidates have a focus on stability.
