The demand for talent in the life sciences sector will be strong and competitive in Singapore, according to the latest Hays Quarterly Report.
Manufacturing capacity is growing in Asia at a quicker pace than other parts of the world, resulting in an increased number of pharmaceutical and healthcare plants setting up in Singapore. Singapore’s strategic location makes it an ideal regional hub, and new set-ups are in dire need of the technological know-how that is crucial to their success.
“This has led to companies sending local talent abroad to facilitate technology transfer between headquarters and Asia,” says Lynne Roeder, Managing Director for Hays in Singapore. “Tech-transfer experts with the right skills to speed up research, technology and processes are highly sought after.”
“Local talent remains a preference of employers for their knowledge in local regulations and processes as well as employee stability,” says Lynne. Those with technical expertise and excellent soft skills are able to command a premium as companies seek commercial-minded talent with strong technical backgrounds.
The life sciences support industries, including medical instruments and laboratories, are also growing in tandem with the pharmaceutical industry. We expect to see a higher need for technical specialists who are customer-focused to drive deeper relationships between the support and life sciences industries.
As Singapore invests heavily in healthcare, we see more hospitals open or undergo upgrading and planning. This in turn fuels the competition for talent in the medical and healthcare instrument businesses.
In terms of candidate trends, Hays says that life sciences professionals are now more open to job changes post-bonus season.
“Many candidates are willing to work at upcoming new plants for the career progression opportunities they provide,” says Lynne. “Some candidates will accept lower salaries to join new projects as newly established firms and plants offer them the full spectrum of exposure in research development and operations management.”
“It will continue to be a candidate-short market given the keen interest from investors in the life sciences sector,” Lynne adds. “It is imperative for firms to secure the right talent from the start to ensure excellent knowledge transfer and lay the foundations for future succession plans and growth.”
View the full Hays Quarterly Report.
Hays is located in Singapore at Level 27, UOB Plaza 2, 80 Raffles Place, Singapore. Phone +65 6223 4535 or email [email protected]
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.
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For further information please contact Esabella Yeung, Marketing Executive SEA, Asia at Hays, on +65 6424 0158 or [email protected]