Election Year Impact on Regulatory Affairs: Job Satisfaction and Hiring Plans

Hired Magazine recently published an article noting that Employers across industries typically take a more cautious stance on spending and hiring during election years . Will the upcoming election affect hiring in Regulatory Affairs? Meanwhile, a recent Gallup poll, reports that employee job satisfaction is at its lowest point in 16 years. To better understand companies’ Regulatory hiring plans and gauge the sentiments of Regulatory Affairs professionals, we conducted a survey during the week of September 16, 2024. We reached out to over 400 Regulatory Affairs professionals, HR leaders, and senior executives within the pharmaceutical, biotech, and diagnostic sectors. Here’s what these professionals and decision-makers are saying—and how their responses compare to last year’s findings.

We asked:

Are you happy in your current role?

The results showed that 69% of Regulatory Affairs professionals are happy in their current role, while 31% of respondents are not.

While the majority of Regulatory employees expressed satisfaction with their current roles, this number is down slightly from September 2023, when 71% of Regulatory Affairs employees told us they were happy in their current role, with 29% saying they were not. Several respondents provided additional insights, expressing that they are happy with some aspects of their role but not others. Moreover, a portion of respondents, despite their present contentment, indicated intentions to leave their positions in the near future. Among the responses from unhappy Regulatory employees, common themes included dissatisfaction with leadership and management, underutilization of their skillset, and expecting significant changes to their role in 2025 due to company mergers.

Are you thinking of changing jobs before the end of 2024?

The results showed that while 74% of respondents are not considering changing jobs this year, 26% are thinking of making a change.

Our data suggests that approximately 26% of respondents are considering changing jobs before the end of 2024. This is down slightly from last year, when 31% of Regulatory Affairs professionals told us they planned to change jobs. While a significant majority remain committed to their current roles, the substantial minority exploring new opportunities indicates the importance of influencing job satisfaction and employee retention within the industry. For more information on what Regulatory Affairs employees value most in considering a job change, see our report on Regulatory Career Motivations in 2024. Several respondents commented that while they are not actively looking for a new position at this time, they would consider it if presented with a good opportunity. Others mention they will plan to begin their job search in 2025.

In order to understand the hiring outlook for Regulatory Affairs professionals for the remainder of the year, we asked:

What are your plans for hiring Regulatory Affairs professionals for the remainder of 2024?

While 33% of hiring authorities plan to hire at the same pace, 67% of respondents told us they plan to slow Regulatory hiring for the remainder of the year. This is a significant change from September 2022, when 68% of respondents were planning to hire at the same or an increased pace, compared to just 30% planning to slow their hiring plans. Interestingly, our data on Regulatory Affairs Job postings for August showed a 19% increase over the same time last year, but it’s too soon to know if that’s an anomaly.

Will the Presidential election impact your plans for hiring Regulatory Affairs professionals for the remainder of 2024?

The results show that 92% of respondents said the election would not impact their hiring plans, with just 8% saying that it would.

When asked whether the upcoming Presidential election would impact their plans for hiring Regulatory Affairs professionals for the remainder of 2024, an overwhelming 92% of respondents indicated that it would not. This suggests that, despite the potential for economic and political uncertainty during election years, most companies in the pharmaceutical, biotech, and diagnostic sectors are maintaining a steady approach to hiring in Regulatory Affairs.

The finding that 26% of respondents are considering changing jobs before the end of 2024 raises concerns about attrition within the industry. This suggests a potential talent turnover that could impact organizations and underscores the need to address employee concerns and job satisfaction proactively. To retain and attract top Regulatory talent, companies in the pharmaceutical and biotech sectors should focus on improving employee engagement, addressing concerns about compensation, and providing a supportive work environment. Open communication channels and opportunities for professional growth are also crucial. The evolving nature of job satisfaction and career aspirations within the Regulatory Affairs field emphasizes the importance of ongoing monitoring and adaptation by organizations. Regular surveys and assessments can help companies stay attuned to the changing needs and expectations of their workforce.

In conclusion, the data highlights the importance of actively addressing job satisfaction and retention concerns among Regulatory Affairs professionals. Organizations that invest in creating a positive work environment, fostering open communication, and providing opportunities for career development are likely to be better positioned to retain top talent in this competitive industry.

Hiring and retaining excellent Regulatory talent is crucial to the success of any biotech or pharmaceutical organization. Dennis Partners knows how to identify and attract world-class Regulatory professionals. We can match candidates beyond what you see on their resumes, diving deep into a candidate’s motivations and aspirations.  This approach focuses on the ideal fit and long-term success of both our clients and candidates.

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