Dennis Partners conducted a survey in June 2021 to determine if and how The Great Resignation was impacting Regulatory Affairs professionals and their motivations to stay in their current position or seek a new one (survey results here). In order to better understand how Regulatory professionals are feeling about the current job market in 2022, we asked the same questions a year later. We surveyed over 400 biotech, pharmaceutical, and diagnostic regulatory affairs professionals during the week of April 18-25. Here are how their answers compare.
- Are you considering changing jobs this year? In 2021, the results showed as many as 55% of regulatory affairs professionals were not considering a job change. This year that number is slightly lower at 52% planning to stay in their current position. Over 47% of respondents do plan to make a job change in 2022, which is slightly higher than 45% seeking a change in 2021.
For those professionals considering a job move, we asked:
- If yes, what would motivate you to switch? (select all that apply) Overwhelmingly now over 79% of regulatory affairs professionals considering a change would be motivated to do so by gaining the ability to work remotely, compared to just under 75% a year ago. Compensation and benefits, culture and people, and advancement opportunities continue to be even stronger motivators than previously. Surprisingly, there is a much lower number of respondents motivated by more challenging responsibilities at nearly 39% this year, versus over 49% last year.
Several respondents provided their own answers, many of which related to the potential and stability of a company:
“Moving to a more stable/established company”
“Higher Prestige company”
To better understand what companies are doing right to retain Regulatory employees who plan to stay in their current position this year, we asked:
- If no, what keeps you in your current position? (select all that apply) In June 2021, over 62% of regulatory professionals primarily planned to stay in their current roles because of the ability to work remotely. In 2022, staggeringly over 80% of professionals would now not consider switching positions because of their ability to work remotely. Over half of regulatory professionals are staying because of their compensation and benefits; this is closely followed by culture and people, whereas in 2021 less than half of respondents felt this was a strong motivator to stay. Opportunities for advancement and the ability to work on site have the least excitement with under 25% and under 11% respectively.
Several respondents provided their own answers, many of which reflected similar themes.
“Appropriate work life balance“
“The mission of company; work-life balance“
“Maternity Leave and New Parent Policies“
Strategic Career Moves:
“The expected work in the next year, enhances resume“
“I started my current position in February 2022, and would like to stay for at least a year before considering changing jobs“
“I just started in February“
Interestingly, over 18% of written responses stated they were not considering changing jobs at this time because they plan to retire in the next year.
Retaining and hiring excellent Regulatory talent is crucial to the success of any 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.
Whether you are seeking a change or finalizing your Regulatory hiring plans for the remainder of 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. Whether you are seeking your next regulatory leadership position or looking to build a top-tier regulatory team, contact us today to see how we can help you meet your goals for 2022.