More than a third of people working in Life Sciences say that having a greater social impact in their work is the most compelling reason for them to change professions. Even when a higher salary is offered as an incentive. QTC Recruitment has come to this conclusion after a brief survey among the Life Science specialists within its international community. The question “What is more important to you (for your next career move), a job with a higher salary or a job with greater social impact?” was answered by 37.6% of the 529 participants with ‘greater social impact.’
According to earlier studies, almost half of all professionals cited salary as their main motivation. The study shows that Life Science professionals closely reflect this view. A higher salary was key for 62.4% of all respondents when considering the next step in their career. Salary is one of the most important factors when making a career switch in the Life Sciences field, yet it is certainly not the only one.
Making the world a better place
“We have long recognised that Life Science specialists tend to have different intrinsic incentives than is common in other market segments,” says Jord Teeuwen, Managing Partner of QTC Recruitment. They often have a strong urge to ‘make a difference’ through their work. Often this stems from a personal issue, such as when they have had first-hand experience of illness.
This assumption was validated in the study, which is critical for Life Science companies that are just starting out, are on the lookout for new professionals, or need to expand to accommodate specific research. At the same time, the study also suggests that salary should not be discounted as an important aspect in these situations, especially in the present-day candidate-driven market. Smaller companies often lose out in terms of the remuneration they can offer. They need to rely, in particular, much more on their ‘sense of purpose’, otherwise they will lose out to the larger companies by default. When it comes to finding competent Life Science specialists, it is vitally important for all companies to strike a healthy balance between salary and social impact.
Given that balance within every organisation is different, personalisation is all the more crucial. When organisations are looking for a professional, they usually only disclose the budget that is available for a salary. That may sound logical, but this study reveals that there is more to it than meets the eye. That is why, in our initial discussions with organisations, we focus on the added value that an organisation can contribute with the research that they conduct. This is then factored in when finding the right match with Life Science specialists who value this as well.”
January 18th, 2022
Are you an employer and do you need Life Science professionals to obtain your objectives, then check out here how we can help you.
Are you a Life Science professional who wants to make more social impact with your job or wants to combine this with a better salary, then check out here how we can help you.