According to an August 2023 report from BambooHR, employee happiness and job satisfaction have been declining nearly 15 times faster than the previous two years combined. To gain deeper insights into the sentiments of Regulatory Affairs professionals and identify the contributing factors, we conducted a survey during the week of September 25, 2023, reaching out to over 400 Regulatory Affairs professionals within the pharmaceutical, biotech, and diagnostic sectors. We asked:
Are you happy in your current role? The results showed that 71% of Regulatory Affairs professionals are happy in their current role, while 29% of respondents are not.
While the majority of Regulatory employees expressed satisfaction with their current roles, a significant number have shared additional insights. Some individuals stated that while they are currently happy, they harbor reservations about their company’s strategy, organization, and execution. Moreover, a portion of respondents, despite their present contentment, indicated intentions to leave their positions in the near future. Among the responses from less satisfied employees, common themes included a sense of “growing dissatisfaction”, disenchantment with the company, and dissatisfaction with their current compensation, and the inability to address this matter within their organization.
Are you thinking of changing jobs before the end of 2023? The results showed that while 69% of respondents are not considering changing jobs this year, 31% are.
The data suggests a noteworthy percentage of respondents, approximately 31%, are contemplating changing jobs before the close of 2023. This statistic underscores the dynamic nature of the Regulatory Affairs profession and the diverse range of career considerations among professionals in this field. While a significant majority remains committed to their current roles, the substantial minority exploring new opportunities indicates the importance of addressing the factors 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 2023. 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 2024.
The responses to this question were quite diverse, with some people mentioning specific companies they prefer or currently work for, while others express a more general sentiment that there is no single “best” company and that it depends on individual preferences and values.
Some common themes and trends identified from these responses include:
- Company Culture: Many respondents value a positive company culture and good relationships with coworkers. They appreciate companies that treat their employees well and prioritize their well-being.
- Remote Work: Remote work options are mentioned as a desirable factor for some respondents, especially in light of changing work trends.
- Stability: Financial stability and job security are important to several respondents, especially in uncertain economic times.
- Biotech Startups: Some respondents express a preference for working in biotech startups, highlighting their enjoyment of the startup environment.
- Individual Values: Many respondents emphasize that the choice of the best company is subjective and depends on personal values and career goals.
- Regulatory Concerns: A few respondents mention concerns about the treatment of Regulatory employees within the industry.
The data reveals a mixed landscape of job satisfaction among Regulatory Affairs professionals in the pharmaceutical, biotech, and diagnostic sectors. While a majority of respondents express contentment in their current roles, a significant portion also harbor some reservations and concerns.
The finding that 31% of respondents are considering changing jobs before the end of 2023 raises concerns about attrition within the industry. This suggests a potential talent turnover that could impact organizations and underscores the need for companies to address employee concerns and job satisfaction proactively. To retain and attract top 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.
Since our inception, Dennis Partners has placed over 275 Regulatory professionals, including 31 VPs/Heads of Regulatory. We also place Regulatory contractors and consultants if you need temporary Regulatory support. Please keep us in mind if you need assistance with your Regulatory hiring!