I’m using the author’s headline. The stats are 28% are “unemployed/actively looking” (aka me) + 28% are “Strong Possibility” = 54%. Still, that’s a lot of people that may go into play. We won’t know until confidence picks-up. It’s easy to say that you’re “out the door” but it’s another thing to actually walk out that door.
[I made the charts as big as I could so that you can read the data, sorry if it doesn’t look pretty]
Orlando, FL – January 8, 2010
55% of Medical Device Industry Professionals Looking for New Job in New Year
27% of Medical Device Industry Executives Will “Definitely” Pursue New Employment in 2010; 28% Indicate “Strong Possibility.” Only 22% are committed to staying in current role.
According to a poll of 2000 medical industry professionals randomly surveyed January 4-7, 2010, more than half are looking at 2010 as the year to make a job change.
The study posed the question: “What is the likelihood you will change jobs in 2010?”
Overall, 26% of the respondents polled answered that that were either “unemployed” or “actively looking.” Thirty-one percent answered that they were happy in their current situation bur are keeping their options open.
Most telling may be the final category: only 11% expected no change in their employment under any circumstances in 2010
Paula Rutledge, President of Legacy MedSearch, a retained search firm working exclusively in medical device recruitment, was not surprised by the results. “For the past eighteen months, professionals in all aspects of the medical industry have had to work harder – many times for less pay and with fewer resources – to make up for reductions in staff. I’m not certain if this trend is sustainable with the first glimmers of hope in medical starting to become evident. Many pharmaceutical and large capital equipment companies will continue to contract through 2010, evidenced the Pfizer (400) and Merck (500) layoffs announced January 7. However, with all the ‘fat’ cut away from most companies, there will be a slight increase in hiring, particularly in the customer-facing functions (sales & marketing), and those professions associated with patient-issues (quality, regulatory, compliance, and clinical affairs).”
Bureau of Labor Statistics January Report Shows Mixed Results
Even with a slight edge up in the January 2010 initial jobless claims (up 1,000 from the previous week of 433,000), the 4 week moving average continues a downward trend and jobless claims in twelve states, including California, actually declined. The unemployment rate still hovers at over 10%,1
That said, the medical device industry, with a higher employment pool of college graduates more likely mirrors the overall unemployment rate of 4.6% posted for management, professional and related occupations 2
Medical Device Sales Executives “Most Discontent”
In a breakdown of the poll results by Title, a mere 9% of healthcare sales professionals are completely satisfied with their current position – and this excludes pharmaceutical sales representatives who have seen mass lay-offs for nearly three years.
Age Makes a Difference
One anonymous respondent who had been laid off in 2009 commented: “Over 80% of the people using outplacement services were at least 50. It’s all about companies saving salary & pension dollars and so many of us are not ready or able to retire.”
In terms of the perception of job prospects, the baby boomers are split down the middle, with 51% actively looking or choosing to keep their options open.
Those options include uplifting roots and relocating to the right stable job, says an anonymous Graphics Designer. “I am a technical designer and was laid off 3 times in 17 months. It is simply getting ridiculous. I finally found a job, but took a huge step back. I’m at the point where I’d relocate to a job (in a desirable area) if it had a stable future and the sky was the limit.”
Legacy MedSearch plans to keep the poll active through January, and the poll results can be seen here.
About Legacy MedSearch
Legacy MedSearch is a retained recruitment firm focused exclusively on Medical Device & Technology with an emphasis on Engineering, QA/RA and Clinical Affairs, Product and Marketing Management, R&D and Sales.