Pharma Companies Use Non-Cash Payments to Lure Staff

Salaries in the U.K. life sciences sector are static, but the range of non-monetary benefits being offered to staff is improving fast, according to a new salary survey.

More companies are seeking to recruit and retain employees by focusing on areas like medical cover, gym membership, and life assurance, as they attempt to keep their workforce satisfied while the sector slowly recovers from the recent economic downturn, noted recruitment firm Clinical Professionals.

The report concludes that there has been a slight increase in employee satisfaction, with more than half of those earning at least £49,000 per annum ($80,240) reported as happy with their salary. This represents a slight drop from last year’s crossover point of £50,000. However, over half of respondents in every field of life sciences (other than medical writing) are reported as looking for a new role. This was particularly the case in high-end medical positions.

 “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,” said Clinical Professionals’ Group Managing Director, Yvette Cleland.