New report shows life sciences sector using benefits to win talent war
Pharmaceutical companies in the UK are taking to offering improved benefits packages in order to keep hold of their top talent.
A salary survey from specialist life sciences recruiter, Clinical Professionals, revealed that the year on year salary breakdown in the life sciences sector shows little in the way of improvement in remuneration. However the benefits packages offered to employees have improved in every area, from medical cover to gym membership and even life assurance, as businesses attempt to keep their workforce satisfied while the sector slowly recovers from the recent economic downturn.
The report – the first of its kind for the industry - concludes that there has indeed been a slight increase in employee satisfaction, with more than half of those earning at least £49,000pa reported as happy with their salary (a slight drop from last year’s crossover point of £50,000pa.)
However, it seems that employers are still likely to face a battle to keep hold of talent, as over 50% of respondents in every field of life sciences (other than medical writing) are reported as looking for a new role. This was particularly prevalent within high end medical positions, as the report shows that 90% of those with a salary above £80,000pa are looking for a new position.
Clinical Professionals’ Group Managing Director, Yvette Cleland commented, “The salary survey shows us that, as the war for talent returns to the sector, companies are thinking imaginatively in order to keep their employees satisfied, and rather than raising salaries, improving benefits seems to be a popular option.”
The full report is available to view online: www.pharmaceuticalsalarysurvey.com