Jan 18 2010
According to a random online survey of 2,150 medical device industry
professionals between January 4 and January 13, a full 55 percent are
looking at 2010 as the year to make a job change.
“What is the likelihood you will change jobs in
2010?”
Conducted by Legacy
MedSearch, a leading medical device retained search firm, the survey
posed the question: “What is the likelihood you will change jobs in
2010?” Twenty-eight percent of all respondents answered that they were
either “unemployed” or “actively looking,” with an additional 28 percent
indicating the “strong possibility” of a job change. A mere 11 percent
expected no change in their employment under any circumstances in 2010.
Paula Rutledge, President of Legacy MedSearch, says she 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 don’t believe this trend is sustainable. We anticipate a
slight increase in hiring in 2010, particularly in the customer-facing
functions like sales and marketing. With the FDA battening down the
hatches on the PMA and 510(k) approval processes, we are also seeing a
recent surge in positions associated with product approvals and
liability such as quality, regulatory, compliance and clinical affairs.”
VPs and C Suite Most Likely to Change Jobs
In a breakdown of the poll results by title, 41 percent of vice
president and “C” level executives indicated a “strong possibility” that
they will change jobs in 2010. This compares to eight percent who
categorized themselves as “owner,” 13 percent who categorized their
positions as non-executive management and 30 percent “all other” job
titles.
“With the capital markets and economic pressures constraining bonuses
and incentives – and many stock options essentially worthless – many VPs
and CEOs have shared confidentially that 2010 may be the year to start a
new job with a clean slate,“ noted Rutledge. “Once quarterly earnings
are posted, there could well be a significant shuffle in the executive
management ranks – both voluntarily and involuntarily. Many companies
are talking to us about making changes at the top as well, so we sense
our 2010 VP and C-level searches to out-pace 2009.”
Product Staffers Least Upbeat on Current Jobs; Business Development
and Marketing Most Bullish on 2010
Of all the job functions represented, respondents in product-focused
positions expressed the worst outlook for their current jobs in the new
year, with zero percent answering “excited about 2010.” Most upbeat
about their current positions in 2010 were business development
executives, 47 percent of whom were either “excited about 2010” or
“happy where I am;” and marketing professionals, 43 percent of whom were
either “excited about 2010” or “happy where I am.”
Small Company Employees Rank Happiest
When comparing respondents in regards to the size of their employers,
those at small companies were most likely to have a positive outlook on
their jobs in the new year, with 21 percent reporting that they are
“excited about 2010.” This compares to 10 percent at enterprise
organizations, eight percent at large companies and just five percent at
medium-sized companies.
Legacy MedSearch client Derrick Johns, president and chief executive
officer of DiFusion
Technologies, commented on this finding. “Having worked at several
larger device companies throughout my career, I think employees at
smaller companies like ours may be happier due to the sense of
‘ownership’ they feel in their respective projects. They also don’t need
to deal with the politics and bureaucracy often found at larger
companies, which means that they can be more nimble and effective.
Despite the current recession, DiFusion is looking to hire in 2010. I’m
not sure this is something our larger competitors can say."