Recruitment within the Biomedical Sciences industry in Asia remains strong, despite global economic downturn
While the rest of the world may be experiencing headcount freezes, retrenchments, or wage cuts, careers in Asia’s biomedical sciences industry continues to remain upbeat. Some sectors (including clinical research, biologics, diagnostic & monitoring technology, nutraceuticals, drug discovery and healthcare) are even facing significant numbers of talent shortage, resulting in salary increments, attractive packages and other incentives given by companies to attract the cream of the crop. These trends were highlighted by Ms Karen Tok, Managing Director ScienTec Consulting, at the 2009 Biomedical Asia event, where she was invited to speak on the topic of talent resourcing challenges within the clinical service industry in Asia.
“Asia is an emerging and dynamic market for the biomedical sciences. Together with increased affluence, growing populations and healthcare needs, and government support for the biomedical sciences, the industry continues to show positive growth. We are seeing more companies basing their clinical trial studies within the region, as they are looking to create more personalised medicines and need access to Asian populations. We are also seeing an increase in R&D and contract manufacturing outsourcing companies in Asia. Singapore is at the heart of these biomedical sciences developments. We have previously been listed as amongst the top 5 biomedical research location1. As such, we expect to see more recruitment in the biomedical sciences and supporting industries here,” said Ms Karen Tok.
ScienTec continues to see the strong demand for biomedical science talents in Asia, with the following positive statistics:
- For senior positions (specialists with more than 10 years experience), companies are willing to give salary increments of between 10-20%. This contrasts with wage cuts in other sectors. Eg. the airline industry (10%) and electronic manufacturing (10-20%).
- Increased demand for junior to mid level positions, demonstrating the maturation of Asia’s life science industry. Last year, ScienTec launched its ScienTec Personnel division to handle junior to mid level recruitment. This now accounts for 60% of its placements.
- Biomedical sciences and Healthcare recruitment in Singapore remains strong, with 70% of ScienTec’s senior level regional searches resulting in placement in Singapore, and 20% of ScienTec’s junior to mid level regional searches resulting in placement in Singapore.
- ScienTec currently has some 100-150 life sciences positions to fill, of which 80% are based in Singapore.
- 60% of ScienTec’s clients are still actively hiring
“While biomedical sciences companies in Asia are still recruiting, the global economic crisis has meant that organisations are being more strategic in their recruitment. For example, many now focus on resource optimization, trying to get individuals who can multi-task in different roles or get the best talent for their employment dollar,” explained Ms Tok. “ScienTec has seen a drop in demand for very senior roles that were commanding top salaries. However, demand remains high for mid level specialist jobs, or those in sales and other critical operational posts. We hope that the launch of our new jobsite will help further boost our database, giving us a detailed breakdown of candidates’ skill sets and experience. This will facilitate both companies and individuals in finding the right match.”
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