Don’t Panic: It’s Not All That Bad! Employee Confidence Survey
Catherine Gutsell
Keywords
Employment, Jobseeker confidence, Personnel recruitment, Resourcing, Survey
Following a recent comparison survey conducted by CK Clinical, which researched the attitudes of jobseekers in the pharmaceutical industry in January1
compared to that of July 2009, it seems respondents generally feel the wider economy is on the mend. However, at grassroots level, employees in the pharmaceutical industry are starting to feel the bite of the recession.
CK Clinical surveyed 5000 people on its internal database that had been job-seeking some time within the past 5 years. The respondents to the survey were from the fields of clinical research, pharmacovigilance, data management, medicine, medical affairs and medical information.
The survey was carried out electronically via survey software provided by Survey Monkey (
www.surveymonkey.com), with just fewer than 5% of respondents logging in to complete the short survey.
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Fig. 1 Given the latest reports in the media regarding the credit crunch, what stage do you feel the UK is at?
The wider economy
Six months on
from CK Clinical’s previous survey, it seems that respondents are now
more positive about the wider economy, with results indicating that in
July more people perceived that the economy was further along the road
to recovery than they did in January. However, this contrasts to
reports by The Guardian newspaper, which predicts that we will not see
the economy return to previous levels until 2014.
The pharmaceutical industry economy
Many
people believe that the pharmaceutical industry is somewhat immune to
the effects of the economic crisis. After all, people need healthcare
regardless of what is happening in the economy. In fact, back in
January 2008 the CEO of Eli Lilly, Sidney Taurel, stated, “The
pharmaceutical industry is not that affected by business cycles, and so
I believe this financial and possible economic crisis isn’t going to
affect significantly our company or the industry.” This is backed up by
findings from a survey conducted by the International Business Council
in July 2009, who found that the economy of the pharmaceutical industry
is considered to be the strongest in the world.
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Fig. 2 In your opinion, are there enough jobs in the UK pharmaceutical, biotechnology or medical devices marketplace?
CK Clinical’s survey findings provide support for
this at grassroots level. When asked about the state of the jobs market
in the pharmaceutical, biotechnology and medical devices industries, it
seems the consensus is that the status quo has been maintained, with a
slight increase of 1.1% between January and July of respondents who
believe the job market is steady. Therefore, it seems that in the past
6 months nothing has changed. There has been a steady level of hiring
set against a backdrop of earlier layoffs and restructurings; a
reassuring insight.
CK Clinical has found further evidence to support
this finding. When conducting an analysis of job opportunities in the
first and third quarters of 2009, it appears that there has been little
change in the number of opportunities available through CK Clinical.
Therefore, it seems that whilst the mood of jobseekers is less
optimistic, the reality of the situation is that the jobs market within
the clinical marketplace has remained consistent.
Change plans
In terms of plans to
change jobs, there was a marked increase of 13.9% in the amount of
people who planned to remain at their current jobs from January to July
2009.
However,
the number of people planning to change jobs in 2009 is still high, at
36.10% in July. This could have been caused by the knock-on effects of
the economic downturn, which have lead to a decrease in employee morale
and job security.
However, due to the resilient
nature of the pharmaceutical industry, job security is generally
regarded to be high. Yet, CK Clinical’s survey results do indicate that
over the past 6 months, the mood of respondents has dampened, leading
people to feel less secure in their current roles.
With employees feeling stressed and disheartened by the recession, are
these negative feelings being extended to respondents’ perceptions of
their employers? CK Clinical’s survey found that respondents’
perception of their current employer’s performance decreased by 18%
between January and July 2009, with 42.5% of respondents in July
reporting that their current employer’s performance to be worse now
than it was at the same time in 2008.
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Fig. 4 Compared to this time last year, how secure do you feel in your job?
The
reality of the situation is that the big pharmaceutical companies are
robust and cash-rich. This means companies within the industry are
generally in the best position to ride out the economic meltdown,
through aggressive growth and promising job creation.
Therefore,
employee’s perception that the market is depressed is just that, a
perception.
Nevertheless, the dented morale of employees
indicated in the survey should trigger warning bells to employers.
However, it seems that some employers tend to see through rose-tinted
glasses. A recent survey conducted by Monster.com and the Human Capital
Institute found that employers are vastly overrating the morale of
their employees: 84% of those surveyed suggested that they believed
their workforce was content simply with having a job during the
recession, while in reality, only 58% of workers felt this way. In
support of this, HCI Research Fellow, Katherine Jones stated, “Today’s
employers feel that employees are loyal due to the recession, but the
reality is, they’re not.
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Fig. 5 How do you feel about the performance of your current employer compared to this time last year?
Because of this, there is a strong likelihood
that when the economy turns for the better, employers could find
themselves with valued employees jumping ship. This places pressure on
them to put retention measures in place now.”
This highlights the need for employers to listen to
and understand the current attitudes of their employees. Employers must
appreciate the importance of communicating the positives of the company
to employees. In turbulent times such as these, it has never been more
important to ensure the high morale of staff through clear and
supportive leadership.
Motivation
Interestingly, whilst
the prospect of career progression and promotion remain the primary
motivator for respondents to change jobs, the importance of pursuing a
good work-life balance has increased by 8.4% between the January and
July surveys.
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Fig. 6 If you are currently seeking a new role, what has been the primary motivator for your search?
The
recession has lead to jobs being lost on a daily basis, placing more
pressure on remaining employees in the pharmaceutical industry to work
harder than ever before. As a result, there are more demands on
employees’ time, and their work-life balance has taken a knock. In
fact,
a CIPD survey2
found that 1 in 5
workers take work home every night, , “
…one in five people, including
many managerial and professional workers, take work home almost
every day”. However, some employers may be surprised to hear that those
companies that foster a good work-life balance for employees could
enjoy a 23% boost to earnings, according to
a study3
conducted by Morgan and Redwood, “
...companies that prioritise work/
life balance enjoyed net earnings per employee of £32,769 – 23% more
than the average for those who don’t.” Therefore, enabling employees to
achieve a better balance between their work and personal lives could
act as a buffer for companies to protect themselves against the effects
of the economic recession.
Summary
CK Clinical’s comparative
survey has highlighted some interesting results. Six months on from the
initial survey, it seems the effects of the recession are starting to
bite. Whilst the perception of the state of the wider economy has
improved, morale of the workforce has been undeniably dampened.
These findings present practical implications for
employers and employees alike. In these turbulent times, employers need
to ensure they are harnessing the talent within their companies, by
improving morale and thus increasing the productivity of their
workforce. Remember to embrace change; after all, recession can
sometimes be the best time to innovate.
Employees who are unhappy at work should bear in
mind that staying put in a job simply for fear of being made redundant
could do more harm to your career than good. Seeking new opportunities
could, in fact, bring you unexpected economic success and contentment.
However, do make sure you have a concrete game plan before you ditch
that job!
- Hart-Smith J (2009): “Maintaining a Positive Outlook: Survey of Jobseekers in the Pharmaceutical Industry”, CRfocus 20(4), p11-13. Available via www.icr-global.org/crfocus/2009/20-04/jobseeker-confidence/ [Accessed November 25th 2009]
- CIPD report, Work Life Balance, http://www.cipd.co.uk/subjects/health/worklifebalance/worklifeba [Accessed November 27th 2009].
- Morgan & Redwood report, Work Life Balance Good for the Bank Balance, http://www.managementtoday.co.uk/channel/GovernanceCSR/news/945347/work-life-balance-good-bank-balance/ [Accesses November 27th 2009].
Catherine Gutsell works with CK Clinical (http://ckclinical.co.uk), a
specialist recruitment company serving the pharmaceutical,
biotechnology and medical devices sector.
