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27% of Medical Device Industry Executives Will "Definitely" Pursue New Employment in 2010; 28% Indicate "Strong Possibility." Only 22% are committed to staying in current role. According
to a poll of 2000 medical industry professionals randomly surveyed
January 4-7, 2010, more than half are looking at 2010 as the year to
make a job change.
The study posed the question: "What is the likelihood you will change jobs in 2010?"Overall,
26% of the respondents polled answered that that were either
"unemployed" or "actively looking." Thirty-one percent answered that
they were happy in their current situation bur are keeping their
options open.
Most telling may be the final category: only 11% expected no change in their employment under any circumstances in 2010.
Paula
Rutledge, President of Legacy MedSearch, a retained search firm working
exclusively in medical device recruitment, was not surprised by the
results. "For the past eighteen months, professionals
in all aspects of the medical industry have had to work harder - many
times for less pay and with fewer resources - to make up for reductions
in staff. I'm not certain if this trend is sustainable with the first glimmers of hope in medical starting to become evident. Many
pharmaceutical and large capital equipment companies will continue to
contract through 2010, evidenced the Pfizer (400) and Merck (500)
layoffs announced January 7. However, with all the ‘fat' cut away from
most companies, there will be a slight increase in hiring, particularly
in the customer-facing functions (sales & marketing), and those
professions associated with patient-issues (quality, regulatory,
compliance, and clinical affairs).
Bureau of Labor Statistics January Report Shows Mixed Results
Even
with a slight edge up in the January 2010 initial jobless claims (up
1,000 from the previous week of 433,000), the 4 week moving average
continues a downward trend and jobless claims in twelve states,
including California, actually declined. The unemployment rate still
hovers at over 10%,1That
said, the medical device industry, with a higher employment pool of
college graduates more likely mirrors the overall unemployment rate of
4.6% posted for management, professional and related occupations 2
Medical Device Sales Executives "Most Discontent"
In
a breakdown of the poll results by Title, a mere 9% of healthcare sales
professionals are completely satisfied with their current position -
and this excludes pharmaceutical sales representatives who have seen
mass lay-offs for nearly three years.
Age Makes a Difference
One anonymous respondent who had been laid off in 2009 commented: "Over
80% of the people using outplacement services were at least 50. It's
all about companies saving salary & pension dollars and so many of
us are not ready or able to retire."In
terms of the perception of job prospects, the baby boomers are split
down the middle, with 51% actively looking or choosing to keep their
options open. ...Options include uplifting roots and relocating to the right stable job, says an anonymous Graphics Designer. "I
am a technical designer and was laid off 3 times in 17 months. It is
simply getting ridiculous. I finally found a job, but took a huge step
back. I'm at the point where I'd relocate to a job (in a desirable
area) if it had a stable future and the sky was the limit."
Full poll results can be seen here.
About Legacy MedSearch
Legacy
MedSearch is a retained recruitment firm focused exclusively on Medical
Device & Technology with an emphasis on Engineering, QA/RA and
Clinical Affairs, Product and Marketing Management, R&D and Sales.
CONTACT:
Paula Rutledge
Legacy MedSearch
Paula@LegacyMedSearch.com
Orlando, FL, USA
(407) 898-4440
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