Latest Salary and Job Satisfaction Report Shows How Life Sciences Employers Plan to Grow Their Teams Amid Inflation and Widespread Skills Shortages

SYDNEY, November 9, 2022 /PRNewswire/ — On Q Recruitment, a recruitment agency specializing in the life sciences, has released its annual job satisfaction and salary report for the life sciences industry in Australia with a number of interesting observations.

Catherine O’Mahony | Managing Director – On Q Recruitment

The 2022 report was collated with data from more than 1,800 life science professionals. Since 2006, more than 22,000 contributors from 15 industries and 150 job titles have taken part in the On Q survey, making it the longest running salary and job satisfaction report for the life sciences industry. in Australia.

Despite global inflation and market conditions, Australian life sciences employers plan to grow and retain their teams over the next 12 months. The recent survey conducted by On Q Recruitment revealed that 39% of employers plan to increase their permanent workforce, up from 36% in 2021. Catherine O’Mahony, managing director of On Q Recruitment, said “data this year suggests the life sciences job market is rebounding earlier than expected and companies are confident in their growth prospects.” The survey also revealed that, as in many other sectors, skills shortages are the main challenge facing employers in this sector, highlighting the importance of using innovative strategies and new approaches to attract and retain top talent.

53% of managers said it was harder to attract new talent than in previous years and 45% of managers said retaining talent had also become more difficult. This year’s report also shows that more and more job seekers are receiving multiple job offers, indicating the level of competition for top talent in today’s market.

Many employers have begun to adopt new or different strategies to address the continuing skills shortage. Some of the strategies adopted include recruiting more entry-level interns, recruiting and sponsoring more overseas employees, hiring more independent contractors and the reassignment of work outside Australia. Many employers also offer loyalty or retention bonuses to their employees and signing bonuses to the best candidates.

In addition to current salaries and cash benefits for life science jobs, 2022 On Q Job Satisfaction and Salary Report includes talent acquisition trends, non-cash benefits, manager and candidate insights, and more job satisfaction insights and data.

On Q’s Annual Salary and Job Satisfaction Report has been used by employees and hiring managers over the years to compare salary data and keep up to date with market trends. “With global inflation and skills shortages, we hope the data and insights from this year’s report will inspire solutions to some of the recruitment, retention and employee engagement challenges faced by companies. employers in this sector,” said Ms O’Mahony. . Reading this year’s report, she also encourages hiring managers and key decision makers in organizations to ask themselves whether they have kept their employees – their top brand and talent agents informed of all employee incentives and perks; ensured that their diversity and inclusion recruitment process facilitated the application of candidates from diverse backgrounds or persons with disabilities; explored all avenues to retain or rehire the highly experienced and skilled older workforce; have ensured that their recruitment strategy attracts key carers who could soon afford to return to the workforce, and finally, whether the roles and key skills required can be redesigned, where necessary, to focus more on transferable skills.

Click here to download the full report or copy and paste this link into your browser – https://blog.onqrecruitment.com.au/salary-survey-report/

For more information on the topics covered in this article and the 2022 On Q Report on Salaries and Job Satisfaction or to discuss how they can help or partner with your organization in your recruitment endeavours, please contact On Q Recruitment at [email protected] or visit their website at www.onqrecruitment.com.au.

About Q Recruitment

On Q Recruitment is a leading Australian-owned specialist recruitment agency that has been matching scientific, medical and technical professionals with exceptional opportunities since 1999. Their specialist areas include clinical research, regulatory affairs, sales and business development, marketing, quality assurance, medical affairs, health technology, supply and logistics, R&D/laboratory, operations and engineering in the corporate, public (federal and state) and not-for-profit sectors.

SOURCE on Q Recruitment

Amanda J. Marsh