ZRG Partners

Life Sciences Hiring Index shows 5.1 Percent Decline in Third Quarter

After two quarters of improvement, the Index turned negative in Q3
to reflect inconsistent global economic data at the macro level.
In light of a high level of uncertainty with regard to the impact of the
Affordable Care Act in the U.S. and continued austerity in Europe,
the findings are somewhat expected. However, a closer look at the
data highlights some larger divergences within individual sectors
and geographies.

What’s Hot?
  • The Outsourcing and Services sector posted its highest level
    of hiring in the history of the Index and a more than 20%
    increase over Q2.

  • Regulatory / Quality / Clinical jobs rebounded from a 2nd
    quarter decrease to post its highest level in a year.

What’s Not?
  • Hiring activity in the Medical Device sector declined nearly 20% from the previous quarter to its lowest level in the index’s history.

  • Asia Pacific activity suffered a nearly 30% drop to its third lowest
    level in the history of the Index.

  • R&D, Manufacturing, and Sales & Marketing functions each
    posted sharp overall declines in hiring activity, though R&D roles
    still remained near an all-time Index high.

Regional Snapshot
As noted, APAC is down nearly 29% this quarter while EMEA and
the Americas each posted slight gains of less than 2%. Manufacturing was the primary cause of the drop in Asia with hiring in the function slowing sharply. As mentioned earlier, the Americas and EMEA had only slight increases but the Americas hiring activity remains at nearly an all-time Index high.

Sector Snapshot
Hiring activity in the Outsourcing and Services sector grew more
than 20% from Q2 to an all-time Index high. Index leaders Quintiles
(Sales & Marketing) and Covance (Regulatory / Quality) were the
primary drivers for the increase. Medical Device hiring declined 19%
from the second quarter with Philips and Siemens slowness across
all functions as the biggest contributors to the decrease.

As mentioned earlier, R&D, Manufacturing, and Sales & Marketing functions each posted sharp overall declines in hiring activity from the previous quarter. However compared to Q3 2012, all three functions saw increased demand with R&D hiring nearly doubling over the same period last year. Regulatory / Quality / Clinical roles hiring doubled from Q2 but overall demand in the function is still weak when looked at over the Index’s lifetime.

Source: ZRG Partners