As biotech and pharma companies navigate the pathways of drug development and approval, the demand for skilled Regulatory Affairs professionals remains a critical aspect of ensuring adherence to Health Authority standards. In order to understand hiring plans for the coming year, Dennis Partners conducted a survey of senior industry executives regarding their anticipated hiring strategies for 2024.
Our respondents provided insights into their hiring plans for Regulatory Affairs professionals in the upcoming year. The respondents were given three options to choose from regarding their headcount intentions.
Will Decrease Headcount (4.55%):
A small percentage of respondents, 4.55% to be precise, indicated that they plan to decrease their headcount for Regulatory Affairs professionals in 2024. This might suggest specific organizational changes, cost-cutting measures, or a reassessment of the regulatory needs within these companies.
Will Keep Headcount the Same (50.00%):
A majority of respondents, constituting 50% of the total, expressed their intention to maintain the current headcount for Regulatory Affairs professionals in 2024. This suggests stability in the demand for regulatory expertise, with organizations aiming to retain their current workforce levels in this specialized field.
Will Increase Headcount (45.45%):
A significant portion, 45.45%, of respondents are planning to increase their headcount for Regulatory Affairs professionals in 2024. This optimistic outlook may be driven by various factors such as anticipated growth, expanding regulatory requirements, or a proactive approach to compliance management.
This data paints a nuanced picture of the hiring landscape for Regulatory Affairs professionals in 2024. While a notable percentage of companies plan to increase their workforce, there is also a sizable portion maintaining their current staffing levels. The decision to decrease headcount is less prevalent, indicating an overall positive sentiment toward the importance of regulatory compliance within organizations.
As the global workforce continues to adapt to evolving work models, organizations are also faced with decisions about the future of their workplace structures. The data collected on the work models for hiring new Regulatory Affairs professionals in 2024 sheds light on the prevailing preferences among companies in this sector.
Remote Work Model (40.00%):
Half of the executives surveyed expressed their intention to hire new Regulatory Affairs professionals under a remote work model. This suggests a growing acceptance of remote work arrangements within the industry, possibly driven by the success and adaptability demonstrated during recent times.
Hybrid Work Model (55.00%):
A significant majority of respondents, 55%, indicated their preference for a hybrid work model when hiring new Regulatory Affairs professionals in 2024. The hybrid model, which combines both remote and on-site work, is increasingly becoming a popular choice, offering flexibility while maintaining elements of in-person collaboration.
On-site Work Model (5.00%):
A smaller percentage of executives, 5% to be precise, expressed their intention to hire new Regulatory Affairs professionals exclusively under an on-site work model. This suggests that while the prevailing trend leans towards more flexible work arrangements, some companies may still value the traditional in-person work structure.
This shift towards hybrid work models aligns with broader trends in the post-pandemic work landscape, emphasizing the importance of flexibility and adaptability. The data suggests that organizations within the Regulatory Affairs sector are recognizing the benefits of remote work while also valuing the collaboration and engagement fostered by in-person interactions. As companies seek to attract and retain top talent in Regulatory Affairs, offering flexible work models could be a key strategy in meeting the evolving expectations of professionals in this specialized field.
Retaining and hiring excellent Regulatory talent is crucial to the success of any biopharma organization. Dennis Partners knows how to identify and attract world-class Regulatory professionals beyond what you see on paper, diving deep into a prospective candidate’s motivations and aspirations, with an innovative approach that focuses on the ideal fit and long-term success of both our clients and candidates. We conduct this research so we can better advise and advocate for our clients and candidates during this ever-evolving time.
Whether you are seeking a career change or finalizing your Regulatory hiring plans for 2024, know that Dennis Partners can create strategic and customized solutions to your needs. As the leader in Regulatory Affairs recruiting, we are a partner in all aspects with the ability to share invaluable insight into the market. Contact us today to see how we can help you meet your goals for 2024.