ZRG Partners has announced their second quarter findings for the Global Life Sciences Hiring Index. Hiring activity throughout Q2 2017 shows a disappointing decrease in nearly every geography and function except for R&D, which showed an 11% increase over the same period in 2016.
Upon review of the major geographies, the most significant decline was EMEA with a 20% drop from this time last year, the result of reduced activity at key industry leaders which contributed to a 14% YOY decline in North America, as well.
ZRG European President and Global Practice Head of Life Sciences, Adam El Din commented, “The pharmaceutical and healthcare sectors in the Middle East and North Africa (MENA) region will be affected by several factors during the entire of 2017, including a slowdown in public sector growth as a result of low oil prices, regional challenges on the back of heightened pressure on drug prices and economic instability. Healthcare will feel the pinch in the region in 2017.”
David Fortier, Managing Director – Global Life Sciences added, “While results over the past year show a trend of reduced hiring activity, it is important to note that hiring overall remains robust with this quarter posting the fourth highest quarterly index score in the past eight years. Outstanding leaders, particularly skilled technical leaders experienced at bringing products to market are highly sought and in short supply.”
The Global Life Sciences Hiring Index analysis utilizes a proprietary algorithm that looks at hiring within selected benchmark companies in three distinct segments. The companies in the index generate over $640 billion in revenues and employ over 1.3 million people globally. ZRG Partners conducts extensive direct market research in developing the data that drives the Index.
SOURCE: ZRG Partners