Global Life Science Hiring Index reverses growth trend with a 17.3% Drop in Third Quarter hiring
Asia Pacific is the only region showing growth in the quarter
WEST ORANGE, N.J.--(BUSINESS WIRE)--Global challenges in the general markets seem to have impacted hiring in the life sciences and health care sectors as the ZRG Partners GLSI index posted a 17.3% decrease in overall hiring for the third quarter. The reductions in hiring were widespread across industries and functions. Only Asia Pacific bucked the trend with 3.1% growth in job opportunities, while Europe and the Americas both posted 22% and 21% drops in index numbers for the quarter. The slowdown was broad across regions, sectors, and roles, as general concerns in the markets appear to have flowed through to headcount plans and overall hiring.
Manufacturing jobs dropped the most overall with a 34% decrease in new roles in the quarter on a global basis, although sales and marketing was close behind with a 29% decrease. Showing more volatility in hiring again was the Outsourcing / Consulting sector, which seems to fluctuate more quickly and with bigger swings than other sectors. This area had a decrease in hiring of 29%, compared to a 17.7% decrease for Medical Device and Diagnostics and a 10.4% decrease for Pharma and Life Sciences.
While no specific region or role particularly stood out this quarter, a few index companies certainly did. Within Pharma and Life Sciences, Novartis is hiring at a steady and robust pace around the world. In the Outsourcing / Consulting sector, Quintiles and Paraexel are countering the sector trends, as both are leading the way in hiring globally with a heavy focus on customer-facing talent. It appears that sales and marketing are the areas of need in this market. Within Medical Device and Diagnostics, the three giants, GE Healthcare, Philips, and Siemens, are all in a fight for talent in Asia Pacific, with notable increases in overall new job opportunities during the quarter. GE leads the way with the biggest talent gap to fill in Asia Pacific, but all three are on the hiring scene in a major way.
About ZRG Partners
ZRG Partners, Inc. is a global authority on talent management issues in the Life Science, Pharmaceutical and Medical markets. ZRG provides its clients with specialized global market expertise in executive recruitment, consulting and advisory work with a focus on data and analytics to drive great business decisions.
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Larry Hartmann, 201-560-9900 x 222