Job growth is off and running. Not only in the medical industry, but in all segments of the US economy. Q1 2018 has already proven itself as a springboard to a successful outcome, both in client demand for top-tier candidates as well as an exciting attraction for those individuals seeking a new career opportunity in the fast-paced, highly demanding, and competitive pharmaceutical, biotech and medical device industries.

Companies are already strategizing for next year’s marketing plans and targeted campaigns. PharmaOne Search anticipates further candidate headcount expansion especially in a niche where data is the driving force. Here are some reasons we think there’s a continued strong demand for talent in this healthcare pharma sector:

1. The Job Market is Candidate-Driven

In business cycles, anytime you experience above average growth in any one niche industry, the result is a healthy selection of attractive open positions. As one candidate remarked, “I have multiple opportunities, and a tough decision to make.” It’s a good problem to have! Corporate recruiters have seen a “skilled labor shortage,” especially noted in the data analytics area, and this area of growth seems to be growing faster than others. In a candidate-driven market, multiple job offers are almost inevitable.

2. Employers Desire Strategic Analysis and Input

It is now expected that new employees not only perform at their highest level of competencies, but also have a ‘seat at the table’ when it comes to strategic input and interpretation of what the data is actually saying as it relates to formulation of an effective product strategy or rollout. Marketing teams need this input and while not always mutually agreeable, it is valuable to get new perspectives. In short, having options makes for better strategic decision-making.

3. Pharma Client Profits are Steady and Growing

Company profits from these corporate entities have been consistent and solid all the way around. New products with or without co-promotion partners are being introduced with robust pipelines to facilitate the demand. Product teams are delivering, and sales forces are expanding. Simply put: their profits could be part of your reward in terms of job leads and new job placements.

4. Candidates and Clients are Waiting for the Best Fit

We are seeing a “more selective – willing to wait” type of candidate. Clients too seem to be waiting longer for a particular candidate to be that “right fit”. When the wait is finally over, and the job is accepted, this gives added job security and personal fulfillment by knowing that you chose the job that best fit your skill set and goals.

Make it Count!

Steve Kane

PharmaOne Search, LLC

2017 is coming to a close. I think everyone anticipates excitement and optimism entering 2018!  We have witnessed sustained economic headway and will undoubtedly continue into First Quarter. The pharma/biotech sector is steaming ahead with steady and consistent growth.  Feels good to ride the wave!

Every Q1 of the calendar year is the best time to re-evaluate career direction and personal aspirations. Why? Because three factors are in your favor:

1. Corporate headcounts are approved.
2. Prior year annual bonuses are paid after which people leave the company, and in some cases produces a backfill need.
3. New year, new outlook, and dept. expansions.

In coaching calls recently and speaking to potential candidates, many of you are getting the itch to perhaps make a change. You know what I mean. Prevent yourself from becoming mediocre and take on something new – a new challenges, new opportunity, job, higher earnings potential, etc.

The employment landscape overall appears very positive. The past 6 – 8 months my conversations seem more zealous, more deliberate, more collaborative. This time period is a very favorable environment to consider ‘kicking the tires’ and possibly evaluating job changes.

A few “what-if” scenarios may be running through your head. Questions like: What’s the job market like? Is it slowing down, picking up? Who’s hiring? Who’s downsizing? If I take this job, do you think the company will be acquired in a few years? These are all fair questions. There is risk in any life changing decision but I think people are more confident of the industry stability and willing to take a look around at making a change.

Job change affects many things and there may not always be “right” answers; however, the more information you gather, the more equipped you are in making an effective decision.

In my coaching discussions, I help unwrap any anxiousness and point out some key strategies you may want to consider. You need to be in-the-know as much as possible and have an edge on the landscape ahead. Staying informed will help you understand industry trends, growing therapeutic areas. In 2018, the healthcare industry will continue to expand, transform. Access, quality, and cost play key roles and probably are the biggest healthcare challenges. Its crazy out there but you can only control and prepare best when you focus on improving you!

Let me recommend three key steps in maintaining the edge to get noticed, score a promotion, and prepare to make a career change:

1. Self-Analysis.Are you working strategically and intelligently? Are you too complacent? Step back. Evaluate your own job performance. Break out the job description outlining your current role. Are you performing all that is required? Take on some new responsibilities to help increase your talents and marketability. Be thorough and be effective. Master the basics first, then work to improve other new areas.
2. Avoid Frustration. Better understand your company and department objectives. Working in a vacuum is dangerous. You may “feel” you are on-track, but are you? I was listening to a mid-level executive recently who mentioned he wasn’t getting the visibility he deserved. Turns out he was getting sidetracked on another department project that was not his direct responsibility. Regroup and do the proactive assignments that get you noticed while maintaining your responsibilities and department objectives.
3. Appeal to your creative mind.Yes, think ‘out of the box’. Everyone has creativity. Some better than others. We all offer different views and perspectives. A key ingredient, and requirement, is understanding the work landscape – your stakeholders, the environment, your competitors. For example, when in the midst of a product launch, what factors are involved? Is it price, positioning, competitive intelligence? Lean on past projects and accomplishments to help scope out a new strategy. Invite your colleague to give you candid and honest feedback on your contributions and performance. Recommend new, innovative ways to test an idea or product or analyze quantitative results that stretches beyond an obvious result. Creativity will stir new opportunities.

Companies desire employees with leadership qualities, creativity, and camaraderie in a team goal-oriented environment. Consider these recommended steps and hopefully will help you track better and excel in 2018 and beyond!

Make it count, Steve Kane

Ask yourself:

1. Have you ever sat around and wondered if your career is on track? Absolutely.
2. Have you been overlooked for a promotion or told during your annual review you need more experience? Probably.
3. Are you too busy to even think about exploring a new company, new position, new location? Definitely!

You are not alone. We all get busy, and frankly too distracted to seriously consider career advice or change. Developing, and nurturing your identity in the corporate space can often be a tightrope while creating and maintaining your image and integrity. Preparing yourself to take advantage of emerging opportunities takes some planning and initiative. It’s mentally and emotionally exhausting.

Career planning is a personal plan. Knowing when to seek career advice is often intuitive. You are determined to focus your career goals around your unique skills and ambitions as you should but sometimes you need help; another set of eyes and ears to really give you advice you have not considered.

In every economic industry, including pharmaceutical, biotech and medical device, there are stages in anyone’s career that give pause. Measure your current situation and make the best decision in light of actual circumstances. Plans fail for lack of counsel, but with many advisors they have a better chance of succeeding.

Here are 4 brief tips to consider and digest when thinking about a career change:

1. Seek Advice from an Acquaintance – Select someone who knows you well but not a real close friend. Why? Because they can give you an objective perspective not influenced by emotion, or personal feelings without hurting your feelings and telling you what you want to hear. This person could be a neighbor, college friend/alumni, project teammate.
2. Contact a Former Supervisor – These individuals, while not directly involved with your current job, know your skills and competencies and can give you good advice having worked with you directly. It has been our experience, these individuals see your potential and will not hesitate to honestly describe your strengths and weaknesses
3. Call a Relative or Extended Family Member – Often a relative, cousin, aunt or uncle tend to be very honest with you after discussing your situation and circumstances. Studies have proven that family members give resourceful advice, honest advice, because they have your best interest at heart.
4. Discuss with your Executive Recruiter and/or Financial Advisor – When you make a career or life change, financial considerations are always near the top of the list. You certainly want to make the best decision in financial longevity and security. Buying a car is a temporary yet emotional decision, but changing jobs and/or careers is life changing.  It not only affects you, but also affects a spouse, high school and college bound children, or even aging parents. A 15 minute discussion can be worth a lifetime of mentorship.

Every career move involves a certain amount of risk. Weighing all the factors are important; however, risk in anything requires exploring and evaluating options. Seek out advice. You will feel better when you do.

Make it count!

Steve Kane