Hiring Plans Amid Economic Uncertainty

A recent Boston Business Journal article highlighted that, despite fears of recession and inflation, many employers are still forging ahead with their hiring plans this year.

In order to provide insights to our Regulatory Affairs community and to better understand how this economy is specifically impacting the Regulatory Affairs job market, we conducted a survey of over 400 biotech and pharmaceutical executives, decision-makers, HR professionals, and senior Regulatory Affairs leaders throughout the week of September 12-September 19, 2022.

The survey consisted of two questions as follows:

1.) What are your plans for hiring Regulatory Affairs professionals for the remainder of 2022? (please select one) The results showed that while over 30% of respondents plan to slow the pace of hiring, an encouraging 68% of respondents plan to continue hiring at the same or increased pace.

Several respondents provided additional context to their answers, such as:

“I hired 3 people this year so I am done for 2022. It has nothing to do with the economy!”

“Reduction in staff may occur to conserve cash.”

“Will try to hire key positions for the organization, but finding those individuals will be the challenge.”

2.) Under which work model do you plan to hire new Regulatory employees? (please select all that apply) The results showed that over 70% of respondents are planning to hire new Regulatory employees under a hybrid work model, with still nearly 40% of new positions expected to be remote. Only approximately 11% of respondents plan to require full-time on-site working arrangements.

Several respondents provided additional information, many of which reflect a flexibility on working arrangements for highly qualified candidates.

“Hybrid is the base case; remote is acceptable if the candidate is not local.”

“Hybrid model preferred but are open to remote candidates provided they have a strong background”

“Remote, but welcome to be on site as well.”

“2 Days on site required”

Despite economic uncertainty, Regulatory Affairs hiring is expected to continue strong through the end of 2022. As of mid-September, there are over 300 open Regulatory roles across the country, including more than 40 Vice President or SVP-level Regulatory positions.  The post-pandemic flexible working arrangements appear to be here to stay, as over 50% of Regulatory Affairs professionals still express their desire for greater work-life balance and remote flexibility, and hiring managers have taken note.

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 2022, 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 2022.