Pharmaceutical and Biotech Professionals: Flexibility and Continuing Education
Are Key to Employee Engagement
Randstad Pharma Engagement Study reveals how companies can better engage and
retain talent in the pharmaceutical and biotech fields
ATLANTA, July 9, 2013
ATLANTA, July 9, 2013 /PRNewswire/ --Workers in the pharmaceutical/biotech
sector are more likely to say their companies have many of the right
mechanisms in place to keep employees engaged compared to workers in other
industries, according to the Q2 2013 Randstad Pharma Engagement Study
commissioned by Randstad, the second largest HR services and staffing company
in the world.
More than half (60%) of pharmaceutical/biotech workers report that their
employers provide regular performance reviews, compared with only 44 percent
of all employees who were polled across industries. Furthermore, 52 percent
in this sector cite their employers invest in employees' careers through
training and development versus just 35 percent of employees overall.
Randstad's Engagement Study is a biannual research report that examines the
factors driving employee engagement and retention, a significant consideration
given that the Center for American Progress estimates replacing an employee
costs approximately one-fifth of that worker's annual salary.
"Given the demand for talent across the pharmaceutical and biotech sector,
companies understand the great need to attract and retain top talent and are
investing in tools and programs designed to foster stronger employee
engagement levels," said Greg Coir, President of Randstad Pharma. "We witness
this effort every day as we help companies evaluate their programs and
identify new and innovative strategies to differentiate their organization as
an employer of choice.
"However, while we see positive momentum within the industry, companies must
continue to put an emphasis on engagement strategies. Our research shows that,
while pharmaceutical employees say they feel inspired at their job, 43 percent
of respondents would be likely to accept an enticing offer from another
company and 37 percent say they plan to seek out a job in a different company
or organization in the next six months, underscoring the need for targeted
retention strategies and investments. One thing to note from not only our own
findings, but also in trends we are seeing from our clients and candidates, is
the growing desire for a more flexible work arrangement. We're not only seeing
more employees want this type of flexibility, but also more employers becoming
more open to this in order to improve the retention and engagement levels of
their internal associates," Coir continued.
According to the study, the top three engagement tools that
pharmaceutical/biotech employees value the most are:
1.Flexible work arrangements or reduced hours
2.Offering bonuses and promotions to high performing employees
3.Investing in employees' careers through training, professional development
or continuing education
To learn more about this Study and other Randstad research, visit Randstad's
Workforce360 thought leadership platform.
The Randstad Pharma Q2 Engagement Study is comprised of findings from
quarterly waves of research targeting employees and annual surveys of
employers. The seventh wave of findings was conducted online March 25-April 8,
2013 from a national sample of 3,282 adults aged 18 and older who are
currently employed full time from Ipsos' U.S. online panel. They survey
included 161 respondents in the biotechnology/pharmaceutical and sciences,
including an oversample of these employees.
Weighting was used to balance demographics and ensure samples reflect the U.S.
population of working adults.
Employees and employers were surveyed to compare notable differences in
perceptions and attitudes. Multiple waves of research allow for trending and
to track changes in perceptions and attitudes over time. Research into
employee attitudes and perceptions will be conducted quarterly. Research into
employer attitudes and perceptions will be conducted on an annual basis.
About Randstad US
Randstad US is a wholly owned subsidiary of Randstad Holding nv, a $22.0
billion global provider of HR services. As the third largest staffing
organization in the US, Randstad holds top positions in permanent placement,
office and administrative, IT and accounting and finance. From professional
services, commercial staffing, recruitment process outsourcing, to managed
services and more, Randstad delivers a comprehensive range of temporary,
temporary-to-hire, permanent placement and outsourced placement services. With
its 5,660 employment experts, Randstad puts an average of nearly 100,000
people to work in the U.S. each week, through its network of more than 900
branches and client-dedicated locations.
Learn more at www.randstad.com and access Randstad's panoramic US thought
leadership knowledge center through its Workforce360 site that offers valuable
insight into the latest economic indicators and HR trends shaping the world of
About Ipsos Public Affairs
Ipsos Public Affairs is a non-partisan, objective, survey-based research
practice which conducts strategic research initiatives for a diverse number of
American and international organizations, based on public opinion research.
They are the international polling agency of record for Thomson Reuters, the
world's leading source of intelligent information for businesses and
professionals. To learn more, visit: www.ipsos-pa.com.
Contact: Lesly Cardec, Senior PR Director, Randstad, 800-422-3819;
Press spacebar to pause and continue. Press esc to stop.