EPM Scientific Survey Reveals Life Sciences Professionals are Confident in Job Security Despite Gloomy Economic Outlook
LONDON, July 28, 2020 /PRNewswire/ -- Life sciences professionals are confident in their job security despite the economy, according to a new survey by global recruiter EPM Scientific. 50% of US respondents and 59% of European respondents feel confident in keeping their jobs over the next six months, despite the majority predicting a worsening economy over the next year.
These findings come from the EPM Scientific Job Confidence Index which measures confidence in the life sciences labor market. The index reports on professionals' confidence in the economy, holding or getting a job, their compensation and bonus, and whether the normal push-and-pull factors in employment have changed.
"In these uncertain times, it can be hard to know what current and potential employees are thinking and feeling. The Job Confidence Index provides some clarity and can help guide strategies to attract, motivate and retain talent," says Luis Rolim, Group Marketing Director at EPM Scientific. "These results are promising; they show the resilience of the life sciences sector and the confidence of its workforce."
Key findings include:
- Doom and gloom ahead: 56% of US respondents and 63% of European respondents predict a worsening economy.
- State of affairs: Europe's life sciences professionals are more positive about the current job market. 42% feel positive or very positive compared to just 29% of US respondents.
- Cashing in: On both sides of the Atlantic, two-fifths (43%) of life sciences respondents think their compensation will increase. However, the majority say career progression opportunities, not a higher salary, would persuade them to seek new employment.
- Feeling good: Half of life sciences professionals feel satisfied with their current job. Half say they are planning to stay with their current employer over the next six months.
- Grass is greener: A majority (58%) of US life sciences professionals say they would relocate for the right job. Three quarters (76%) expect help with moving expenses.
The EPM Scientific Job Confidence Index surveyed over 380 experienced life sciences via an online survey and consultant follow up. The survey ran from March to May 2020.
About EPM Scientific
EPM Scientific provides permanent, contract and multi-hire recruitment services for the life sciences industry, across sectors including research and development, clinical development, clinical operations, biometrics, commercial, medical communications, medical affairs, quality, regulatory and pharmacovigilance.