Singapore market update (2013)
Over the last 12 months, healthcare and life sciences recruitment was healthy as businesses relocated to Singapore to take advantage of its strong research and development hub and business network. The most demand was for technical and manufacturing contractors with an in-depth knowledge of the healthcare market as many organisations outsourced these services. The clinical research area also experienced a boost in headcount across contract research organisations (CRO) and pharmaceutical companies. In contrast, there were fewer positions in the area of commercial excellence aimed at immediately impacting company profit as employers hired sales and marketing talent to achieve this.
The current market
Currently, recruitment activity in the healthcare and life sciences industry remains positive. The highest demand is for skilled quality assurance and engineering professionals along with medical doctors or pharmacists trained in medical affairs and regulatory affairs. This is due to the shortage of specialist skills in these niche areas and as more organisations strengthen their operations to meet domestic and regional consumer demand. Clinical research associates and technical sales representatives with commercial experience at the senior and executive level are also being sought across the pharmaceutical, nutritional and medical device areas. This talent is required in companies focused on gaining market share by delivering products to customers quicker and establishing a reputable brand.
As more organisations are expected to require professionals with healthcare and life sciences skills over the next year, employers will focus on securing talent by offering competitive remuneration. Average pay rises of 10-15% can be anticipated for top performers and higher wage increments of 15-20% are likely to be awarded to professionals with skills in highest demand.
Some companies will offer performance based bonuses and transport allowances in early 2013 to secure the best staff at the beginning of year. Hiring activity in the healthcare and life sciences industry is anticipated to be steady over the next 12 months as more companies expand their research and development functions in Singapore. There will be continued demand for professionals with specialist skill sets and talent across the pharmaceutical, nutrition and medical device areas as more companies look to establish or enhance market share. To secure top performers in the coming year, businesses will offer long-term career development plans.
If you’re looking for new opportunities or need top talent for your organisation, get in touch to find out more about our healthcare and life sciences recruitment in Singapore.