Tighter drug regulations in Hong Kong are set to spur hiring of regulatory affairs professionals as companies look to ensure smooth operations.
According to recruiting experts Hays, competition for candidates in the life sciences industry would intensify in the next three months as hiring managers gear up their search for qualified professionals with the relevant technical skills.
In its latest Quarterly Report for July to September 2016, Hays finds pharmaceutical companies are adopting flexible recruitment strategies ahead of new product launches.
“Companies are increasingly cognizant of government healthcare policies and are looking for candidates to help their operations comply with regulations,” says Dean Stallard, Regional Director at Hays Hong Kong. “In the coming quarter, we will see strong hiring of permanent staff and temporary roles in the life sciences sector.”
It is highly expected that more new products will hit the market later this year, prompting employers to look for talent now. Normally, organisations will start hiring six months before new product launches.
“Employers are also scrambling for product specialists or sales managers as experienced talent can help generate revenue,” says Dean. “Clinical research associates will also see high demand from research organisations as large companies continue to outsource their clinical trials.”
In terms of candidate trends, it was found that an increased number of merger and acquisition activities in the life sciences sector will result in consolidation of headcount for some senior commercial roles.
“Consolidation will probably result in an increase of candidate availability in the market during the coming quarter,” Dean commented. “For senior managers, salaries are likely to remain flat or decrease slightly.
Overall, recruitment of junior and mid-level managers will remain strong but high technical qualifications are required. Candidates with PhDs or other relevant qualifications will likely receive multiple offers from employers.
