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Australasian Biotechnology, Vol. 12, No. 5, Oct-Nov, 2002, pp. 18-19 RECRUITMENT TRENDS IN BIOTECH Employment remains firm in the Biotechnology Sector Jeremy Wurm Brooker Consulting Code Number: au02029 In the absence of hard empirical data about employment trends in the Australian biotechnology field, the anecdotal evidence gathered from discussions with leading recruitment firms working in the sector paints a picture of a still buoyant employment market. According to a number of well-placed commentators, the stockmarket downturn appears to have had relatively little impact on employment of the stockmarket downturn compared with the decimation of jobs that has occurred within the more high profile information technology and communications sector. Not that the biohealth/biotechnology sector has escaped completely unscathed - there have been several casualties most notably GroPep in recent times. A cautious confidence perhaps best sums up the prevailing mood amongst recruiters and human resources managers within the larger biotechnology companies, although this confidence is coupled with a wariness that Australia cannot stay immune indefinitely from the destruction of shareholder value being seen in North America, Japan and Europe. Keeping a weather eye on the financial markets is doubly significant for the Australian biotechnology sector because of its youthfulness and the umbilical cord between it and the need to raise continuing capital. In turn this feeds directly into employment prospects and trends within the biohealth/biotechnology field. Jeremy Wurm, Managing Director of biotechnology recruitment firm, Brooker Consulting, commented that "There is continuing demand in the field - I would describe it as buoyant but at the same time it has unquestionably been affected by the uncertainties in the marketplace which has led to a decline in funding and in the formation of new IPOs." "The reality is that the climate is a tougher one, and it has underlined the truth that when the US sneezes, we all catch the cold!" "There is still a demand of course - good science needs to be commercialised; that hasn't changed, just that the commercial funding vehicles are not so robust." Mr Wurm, a veteran in an industry which has barely 15 years of history in Australia, describes the biotechnology area as "still the happening area, certainly by comparison with the information technology and communications field; biotech is being seen as a hope of the future". He said there was still confidence within senior management and Boards to continue to invest and to continue to employ. Suzy Baxter, head of the science and technology division at Brisbane-based Davidson Recruitment, commented that there were "a lot of vacancies, a lot of movement in the market", although adding that the last two years had seen overall growth. Davidson Recruitment specialises in the south-eastern Queensland region where it has developed a strong reputation for dealing with the spectrum of employment positions within the biotechnology sector. Ms Baxter, who has a BSc Hons, said that the firm casts its net widely to attract the best potential candidates including the expatriate community. She says that the firm is having "good success with expats with three or four (people) in the pipeline, although the high level of tax in Australia is definitely a problem." She commented that the rate of growth of the biotechnology sector "is linked to the availability and quality of the talent pool of individuals with proven track record". Her observation was echoed by Trevor Neville of Nizza Recruitment service who said that "employers are closely looking at the non-technical skills of candidates (including) skills of adaptability, problem solving, project management, time management, presentation skills, people skills and the ability to network". One noticeable trend, according to Jeremy Wurm, is the impact of pharmaceutical mergers on the supply of people to the biotechnology field. "We are seeing people from the pharmaceutical industry targeting the biotech field and the commercial expertise that they often bring with them is highly prized. People are also seeking to get into biotech area from the ICT field." "There is no question that there is a lot more international interest; we are getting more resumes landing on the desk from people keen to get into the Australian market which is seen as have remained strong. Expats are also looking to come back in greater numbers." He added: "With the successful AusBiotech event, what was very interesting was that there were so many people from overseas, such as the US and UK attending; Australia seen as being strong. People are keen to look at how we are performing." Mr Wurm who has participated in the appointment of 40 CEOs in the past 15 years, said there was still strong demand for senior appointments "who can combine commercial and scientific know-how, and IP strengths; people who can walk the talk" Skills priorities As the sector matures, the demand for skilled laboratory and R&D staffers is being increasingly complemented by the fast-growing need for seasoned executives in particular disciplines. Suzy Baxter said that occupational and skill priorities needed by biotechnology firms included regulatory affairs and clinical development managers, computational and combinatorial chemists, protein biochemists, synthetic chemists, business development managers and investment analysts. She said there was a shortage of available talent "in the regulatory, quality and clinical development areas, particularly as companies move through the commercialisation pipeline." Facing a persistent shortage in operational talent with expertise in the particular requirements of biotechnology, the sector is turning towards better methods of training and upgrading middle ranking people in the industry. Ms Baxter is on the PMSEIC (Prime Minister's Science, Engineering and Innovation Council) Management Skills Working Group which is examining ways of improving the breadth and depth of management skills in individuals in high-growth companies, including those in the biotech sector. She commented that companies were "often looking internally to upskill". Rates of pay for talented people are holding up well in the current climate, with companies being prepared to pay what is needed to attract top managers and in particular seasoned CEOs, although the ability to do so is being constrained by the tougher financial environment. Interestingly, one emerging trend is for recruitment consultants to be involved in helping to select directors as well as senior managers. Copyright 2002 - AusBiotech |
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