Laid Off Pharma Workers Find Jobs: Survey
10 CommentsBy Ed Silverman // May 19th, 2008 // 3:33 pm
While drugmakers slashed their workforces in the Northeast US during the past year, many employees who lost their jobs found comparable or higher-level positions, according to a survey conducted by Right Management, a human resources consulting firm.
Of those laid off, 73 percent found new jobs at the same or higher level, and 84 percent did so without relocating. The survey queried 1,282 employees who were let go by drugmakers with locations in the Northeast US between January 2007 and March 2008, although there was no breakdown on the types of jobs lost or found. Sales reps, for instance, may have had a harder time than others.
Other findings: 43 percent found new positions through networking; 15 percent found new jobs through the Internet; 12 percent landed new careers through employment agencies or search firms, and 8 percent got a new job by applying directly to their new employers.
Jack2
I really have no idea, but I would have expected reps to have the easiest time. A sales rep can move to another industry since some of their skills are just about being a salesperson, and applicable to other industries.
Ed Silverman
Hi Jack2,
I should clarify that the survey didn’t suggest sales reps may have had a harder time. The survey was silent on the types of jobs involved altogether.
That was my speculation, because that job category has suffered substantial losses in the past year or so. I interepreted comparable as being within the same industry, but perhaps comparable means different things to different people. In any event, apologies for any confusion.
ed
Paul
I have a feeling that reps will have the hardest time. On the one hand, yes, their jobs may be more transferable across companies; however, with so many companies cutting sales positions, that leaves very few openings across the industry.
As for the new start up companies, the last thing they needs is sales reps. They are looking for clinical development, regulatory, finance and deal-making people.
Dan
Agree with Paul. Laid off reps find today the larger pharma cos. are cutting or have hiring freezes. Smaller ones pay much less, if you land one as a sales rep.
Jack2
I’m talking about going from a pharma rep to a rep for a communications company, or a defense company, or an electronics company or something totally different.
Paul
Sorry Jack2, not as easy as that. The skills and experience are not that transferable.
Alastair
I wonder how accurate surveys of this type are. Do you think a similar percentage of persons currently out of work respond compared with those back in work?
Mark
I went to the site and could not find the survey.
Ed Silverman
Hi Mark,
I’m sorry, but apparently the firm chose not to post the results on its site. I provided a link, nonetheless, because not everyone is familiar with the many firms and companies that I sometimes refer to in my posts.
ed
Jean
The survey reported a comparable or higher level position - nothing was stated about pay. When I was downsized, my job title was comparable - but at a 40% pay decrease.