Regulatory Affairs: In an ever changing industry – what are you doing to stand out?
Regulatory Professionals, part of the Clinical Professionals Group, have compiled a report that utilises results from our salary survey along with our specialist industry knowledge, which outlines significant changes within Regulatory Affairs, and can be used as a guide to business development. Divisional Manager, Kirsty Calow, elaborates on the findings and the current state of the Regulatory employment market.
“Brexit has led to an increased demand of regulatory specialists which in turn, has resulted in vast competition in an already talent short climate. Competition for skilled regulatory workers has led to pay rises in-house in an attempt to reduce the temptation of movement and turnover, however market rates are significantly increasing. Due to such uncertainty around Brexit, there is a significant drop in skilled European workers wanting to ‘jump ship’ and move to the UK.
Is this just down to Brexit? We need to remember the 2009 ‘recession’ saw the impact of training programmes come to almost a complete halt. So when is the impact of this felt, the answer is now. We are seeing reduced numbers of expert regulatory workers, and those at a Senior Manager level and above are able to demand more. To make the ‘switch’ to a competitor, the demands are higher and people are making themselves ‘less available’.
There has also been the growth of the Regulatory Consultancy which by nature of the beast tend to offer very flexible working, interesting and varied projects, and great benefits. Another avenue of competition to also consider when hiring
Within the continued rise of Biotechnology within regulatory leading to further advancements, more senior regulatory candidates are wanting the ‘I was there when’ kudos and why not! This is an exciting time for UK start-up biotech companies; they not only have the pipeline in some exciting areas, but also have the backing and funding to attract the best talent.
When looking at the current market, the majority of roles we are seeing as a business have been those at a Senior level. But why? Due to so much uncertainly and wanting to be the ‘first’ in such a competitive industry, which cannot be achieved without the knowledge and expertise that can only be obtained at senior level.
What does this mean and what are companies doing to keep talent and attract talent?
Firstly and least surprisingly, salaries have been increased. From the time of our 2018 Salary Survey Regulatory Affairs Senior Managers, on average, were being paid between £60,000 to £70,000 per annum. As anticipated, salaries have continued to rise from January to present day and is continuing to grow. This does not even cover bonus schemes, car allowances and benefit funds. The list is endless on what companies are offering to stand out from the competition and ensure employment longevity.
Secondly, is the upsurge of home and flexible-working. Why does this work in regulatory? Let’s be honest the role is not 9-5, calls need to be made outside of these hours, health agency correspondence, waiting for documents from oversees or calls to the US, the list goes on. The industry need to consider equal opportunity and diversity employment; supporting mothers returning to work and part-time workers and in a market that is highly female dominated, having the forward-thinking mindset will add value to business reputation and attract high calibre candidates.
CV response times are also reducing, a recruiter frustration that is finally being resolved! We are seeing the end of the days of sitting on a CV for 2/3 weeks before any feedback, with line managers or talent managers coming back within 48-72 hours with interview requests and even booking next stages there and then if wanting to move forward. Don’t be the company that wants to see more, just for a comparison, the top candidate will be gone!
In what is an exciting, fast-paced and ever-changing industry, with interesting businesses and products, new developments and all manner of challenges – what are you doing to stand out?”
If you would like to see a full break down of the Regulatory Affairs sector in the Clinical Professionals Salary Survey, or would like to look at the other sectors that we cover please email salarysurvey@clinicalprofessionals.co.uk or visit here
You can also call a member of the team on 0118 959 4990 to request a hard copy and find out how Regulatory Professionals can assist you in your career/recruitment search.