Should I stay or should I go?

pharmafile | May 16, 2008 | Feature | Business Services |  career, planning, recruitment 

You have been bored lately. You don't believe you can progress in your career any further at your present company. You are finding it difficult to motivate yourself. Quite honestly, you're ready for a new challenge.

But what should you think about before making the decision to brush up your CV and put yourself on the job market? Is this a good time to take the plunge? The answer is a combination of 'push' factors, prompting you to want to move, and 'pull' factors, which attract you to new opportunities. It is only by thinking through the balance of these two that you can decide how to respond the next time you furtively take a call from a discreet researcher.

Ask yourself some questions

First of all try to analyse why you are feeling vaguely dissatisfied. What is it that you are not getting at your current company that has made you dissatisfied? Is it the work itself? Is it the people? Is it the salary level? You might find your manager's style difficult to work with. Or are there other factors, such as lack of promotional opportunities?

Once you have arrived at some answers to these issues, try turning the situation from a negative into a positive. What could your current company do or offer you to solve these problems? Are there any internal opportunities? If the problem largely centres around remuneration, consider when your next appraisal is due and start building the case to justify an increase.

Personal reasons

There are usually several interrelated factors, none of which is individually decisive but cumulatively they can make the case compelling. Martin, a medical director with a UK pharma company, changed his job a year ago because of the strain it was putting on his personal life. He says: "I had a long commute to work each day – around an hour and a half each way if the motorways were behaving – and when I wasn't going to the office, I was travelling abroad which meant more time away from home. With a young family this was taking its toll. I suddenly woke up one morning and thought there must be more to life than this. If I am honest, there were a couple of personality issues at work which tipped the balance as well. I started to look around and although it took a few months, I found a job nearer home which meant a shorter commute, less overseas travelling and a really positive company culture. So far, it's going well and I'm glad I made the move."

For some people it is the job and career progression – or lack of it – that spurs the move. Perhaps your career is blocked by a lack of opportunity to progress, or you have been in the same role for too long and need a change?

Maybe the company you are currently working for is not delivering in the way you want. Although people are often initially attracted by a specific job, it is worthwhile taking an equally careful look at the company itself. The jobs on offer can only be as secure as the organisation's prospects. There will be fewer opportunities as a result of poor financial performance or failure of a major product registration; these occurrences can also lead to actual redundancies or ever-present fear of job losses, which is demotivating.

Uncertainty

In the pharma industry in recent years, there has been a great deal of uncertainty surrounding re-organisation or takeovers that lead to higher turnover. Surveys show that M&A activity, whilst it may not always result in skill flight, certainly results in skill fright. Employee reactions to such changes can include less corporate loyalty, indecision on which horse to back (which company will be more successful) and unfashionable share options which prove a poor incentive. People are concerned, understandably, about any potential impact on their role or possible consolidation of office locations. As a result, internal morale suffers. Nothing breeds speculation like uncertainty, as employees share rumours and endlessly speculate about possible futures.

For people working in a start-up biotech, the future of the company can hang on the success of one or a small number of drugs in development. There's also the uncertainty surrounding the next tranche of venture capital funding, which hinges on the achievement of milestones.

Or you might find yourself working in a negative culture which is also demotivating. This can include working long hours as the norm or complicated office politics which detract from the task in hand.

These are all personal reasons, specific to the individual, for making the move but what about the state of the industry?

State of the sector

Harten Group's recent annual industry survey revealed that the sector as a whole has been going through a hard time for several years. Pharma is experiencing a sustained period of consolidation with constant pressure on the price of medicines, an evermore onerous regulatory regime with major restructuring and associated redundancies in some of the biggest players. All of this creates uncertainty and limits career advancement opportunities.

Everyone wants to feel that their job is socially useful and, in principle, working for companies which develop medicines should fall into that category. But recent events give the impression that profits come before patient welfare. The controversy over the withholding of negative clinical trial data for Seroxat has only reinforced this view, further reducing the industry's low standing in the eyes of the public.

Opportunities in the industry are also at risk from certain roles being outsourced to lower cost economies, specifically roles that are principally concerned with the manipulation of data. Already major CROs and strong local companies exist on the Indian sub-continent which have the capability to process clinical trial data remotely.

So, having considered all the reasons for wanting to leave, what are the potential positive outcomes of moving jobs?

Fresh challenge

Firstly, there is the attraction of a blank sheet of paper and a fresh challenge. This may include the opportunity to develop new skills, take on a broader range of new responsibilities, in terms of staff, travel, budget and seniority. You may make new friends. And of course an improved benefits package may be on offer too.

You may find a company that appears to be more attractive, because of its a higher profile in the industry, greater financial security, broader product portfolio or appealing culture. Perhaps it has a track record of successfully developing, registering and launching an exciting portfolio of new products.

If you are considering a move from pharma to biotech, there's an opportunity to be a bigger fish in a smaller pond, which in turn can offer a greater breadth of experience. Additionally, experience gained in big companies is greatly valued by smaller companies trying to broaden their skills base. An example of this could be a smaller company filing its first multi-country licensing application or setting up an international office.

An HR director at a small UK pharma company underlines the benefits to staff of working for a smaller player. He says: "There is no doubt that people are treated as individuals rather than just a number. One of the key benefits for senior staff is the sheer breadth of responsibility you are given. For people who thrive on a challenge, this can really make them come alive. Another plus is that because of our size and culture we are able to deal with people as individuals, taking into account their own career aspirations and being as flexible as possible to help them meet their personal aspirations."

Biotech appeal

In terms of industry appeal, there is considerable evidence that more biotechs are moving into profitability and the sector is gathering momentum and the confidence associated with it. As a result, larger biotechs look more attractive than pharma and are often perceived as being more dynamic than staid, hard-pressed pharma. As a result these companies are increasingly able to offer benefits packages rather than the 'jam tomorrow' option schemes which may have been applicable a few years ago.

There's also the appeal of working on an innovative therapy or new disease area which may provide the chance to do research that could lead to new medicine and publication opportunities.

New areas

Moving away from pharma and biotech, there are opportunities in expanding service company sectors, such as contract research organisations (CROs) which offer the possibility of working across multiple therapeutic areas for a variety of clients.

These provide the chance to work internationally in an increasingly globalised industry in either a professional capacity such as multi-national drug development or in a managerial capacity, for example managing international service contracts or collaborations.

Personal strategy

So what can you do to increase your own employability? A sound personal strategy is to build a portfolio of skills which are generally transferable across the industry. This will depend on career stage and the areas of specialism. It is recommended that candidates evaluate any opportunities in terms of what they could contribute to this portfolio rather than their immediate appeal. Breadth is good – both in terms of skills and types of organisations.

It's also important to do your own marketing. Keep an ongoing 'brag' file of achievements – a folder of material that relates to successes you have had at work and, where appropriate, outside work too. This could include certificates from courses, sales figures, press releases or materials highlighting your successes and some positive referrals from clients, customers, colleagues and managers, such as your most recent appraisal. This is a handy folder to take along to interviews.

Look at obtaining additional qualifications to increase your market value, such as the Diploma in Pharmaceutical Medicine (or Dip Pharm Med) from the Royal College of Physicians. This includes a list of relevant topics: medicine regulation, clinical pharmacology, statistics and data management, clinical development, healthcare market place and drug safety.

If you decide to move

Look carefully at your contract of employment to find your notice period. In some cases this will be adhered to; in others, particularly if you are moving to a competitor, your current company may be prepared to let you leave early or in some cases ask you to go on 'gardening leave'. If you have holiday owing, check if this can come off your notice period.

Think now about finding your new job. How many headhunters or recruitment consultancies should you register with? What will offer you the best service to find the jobs in your field? Spend time doing research on this, as it will produce better results in the long-term.

Consider your personal circumstances. If you have to relocate, who else will be affected? Will your partner need to move job too? What about the age of your children and their stage of education? If they are approaching major exams, will your relocation have to be delayed? Would you be prepared to live away from home, perhaps from Monday to Friday for a period?

How long realistically will it take to find a new job? Bear in mind, the level at which you are pitching and the current state of the sector. If your field is currently suffering from external economic factors, there may be fewer opportunities available and so the job hunt may be longer.

Start work on your CV. Make sure it is completely up to date and highlights your strengths and main career achievements but keep it to two or three pages at most. You can reasonably expect that reputable recruiters and headhunters would help you to present yourself in terms of content and format.

Last but not least, consider carefully the implications of resigning and working out your notice period. Prepare carefully for any exit interview you may be required to do and keep your comments general. It doesn't pay to be too critical – unless this can be done in a constructive way – as you will need a reference for your next post. Try to have personal and professional references available.

References are obligatory for most organisations, so give some thought to who you can ask for personal and professional references.

Is now a good time?

There's no easy answer. As pharma wrestles with the challenges it currently faces, it is no longer a 'safe' bet in terms of career security. Nor is there any reason to believe these pressures are going to reduce over the next few years.

Biotech is enjoying the prospect of a more promising future after several years of gradual sustained delivery, but the relative size of the individual players make them a more risky proposition. The failure of a major product launch could lead to restructuring or takeover. In other words, there are no obvious safe places in the sector.

Box: Looking for the Exit?

Why you might move on….

* Is your career blocked by lack of opportunity to progress?

* Are you bored and need a fresh challenge?

* Is your job negatively affecting your personal life?

* Are you enduring a long commute or too much business travel?

* Do you have a personality conflict with your boss or peers?

* Is there a real risk of re-organisation or takeover?

* Are you insecure about your company's prospects?

* Are you disillusioned by pharma's image and preoccupation with profit?

… and how you could benefit

* Better work/life balance, a shorter daily commute and less business travelling

* Improved salary and benefits package

* Fresh career challenge with new responsibilities

* More positive company culture and the stimulation of working with new people

* The opportunity to broaden your skill base and thereby grow your longer term career prospects

* Greater opportunities for working and living abroad

Tim Ewbank is interim chief operating officer of The Harten Group. For more information please telephone 01223 233777 or go online and visit www.hartengroup.co.uk