ScienTec Consulting Reports Singapore Biomedical Industry Attractive to Foreign Talents
ScienTec Consulting reports sustained interest of top foreign talents to Singapore's young biomedical industry.
Singapore, Singapore, May 30, 2013 --(PR.com)-- Singapore is poised to become the region’s hub for the biomedical industry through improved biomedical research infrastructure and policies conducive to new investment. As a result, the country is playing a critical role in the expansion plans of the sector’s prominent global organisations and Asian enterprises.
According to EDB’s 2012 factsheet, the country is host to eight major pharmaceutical and biotechnology companies, 30 medical technology companies and more than 50 manufacturing facilities. With nearly 82 per cent of the industry’s more than 7,000 research scientists and engineers (RSEs) in the public sector and A*STAR, there is a real need for new talents in the growing private sector.
Filling the talent gap
While more of the country’s limited number of RSEs are exploring careers in the public sector and A*STAR, the growing private sector is seeking the help of specialist recruitment companies like ScienTec Consulting to find talents elsewhere in the region or from home markets to fill the critical talent gaps in their operations.
“These opportunities in the biomedical industry have especially attracted candidates from countries like Australia, Europe and the United States where there are more talents with the needed experience, academic qualifications and international exposure compared to Singapore,” shares managing director, Karen Tok, of executive search and professional recruitment firm, ScienTec Consulting.
Multinational talents
As Asia’s developing markets and vast resources continue to attract global pharmaceutical and biotech companies, Singapore has become a strategically important business destination for foreign investments and life science talents. Also dubbed “Best Place for Expats to Work” on numerous media, the country’s high quality of living, efficient public infrastructure, favourable tax regimes and open, albeit regulated, immigration policies for global technical talents are major motivating factors for foreign talents to explore careers within the city-state.
While R&D positions continue to be filled by qualified resident talents, a talent shortage would compel organisations to hire outside of the local talent pool. This propensity is intensified when the time needed to seek niche talents can lead to missed operation start dates and financial penalties.
Call for graduates
“It’s a skills market with very intensive standards,” says Ms. Tok. “Hiring outlook remains positive, but roles in biomedical and scientific areas for the R&D facilities require, among others, clinical exposure plus commercial experience and, at least, a PhD. Right now, there are not enough local candidates to meet end-to-end requirements.”
The Singapore Department of Statistics’ 2012 Yearbook of Statistics shows a year-on-year growth from Singapore’s polytechnics and universities of new enrollments for life science courses. However, the period from 2009 to 2011 saw a much slower 5 per cent average growth rate, versus 2006 to 2008 with 27 per cent.
“Today, we’re seeing an uptick in enrollments for courses where the career path is more straight-forward and returns can be easily seen, such as business administration and even engineering,” she adds. “Students who are serious about a career in R&D should expect to invest a lot of time gaining early clinical exposure alongside further studies. Your academic career does not end at a degree. Students who work their way to a PhD, while taking industrial studentship programs to gain relevant experience, have stronger postdoctoral careers within the biomedical industry from R&D roles to management.”
New life for science graduates
Graduates from life science courses who are not interested in an intensive R&D track in the future, have real opportunities in the present as well. The pharmaceutical, biotechnology and medical device industries, among others, have a range of career opportunities in commercial roles.
New manufacturing plants and regional headquarters in Singapore need ready-talents for corporate and plant jobs. And new players, needing to penetrate the market, will continue to grow their demand for sales and marketing positions that require a life science background and familiarity with local customers. Other positions that are in continuous demand, are in regulatory affairs and commercial management functions.
While Singapore’s biomedical industry continues to grow, we will continue to see more talents join the workforce year-on-year. However, keeping pace with the increasing demand for rigorous expertise will demand a sustained and concerted effort from the country’s education system to produce qualified PhD graduates, as well as sustaining the interest of incoming students.
About ScienTec Consulting
ScienTec Consulting offers a range of executive search, specialist search, professional recruitment and general staffing services under its key brands ScienTec Search and ScienTec Personnel. A recognised provider of flexible and scalable cross-border talent solutions for companies building their operational presence in Asia, ScienTec Consulting responds to the hiring needs of budding companies and Fortune 500 clients. For more information on ScienTec Consulting’s services, visit www.ScienTecConsulting.com.
According to EDB’s 2012 factsheet, the country is host to eight major pharmaceutical and biotechnology companies, 30 medical technology companies and more than 50 manufacturing facilities. With nearly 82 per cent of the industry’s more than 7,000 research scientists and engineers (RSEs) in the public sector and A*STAR, there is a real need for new talents in the growing private sector.
Filling the talent gap
While more of the country’s limited number of RSEs are exploring careers in the public sector and A*STAR, the growing private sector is seeking the help of specialist recruitment companies like ScienTec Consulting to find talents elsewhere in the region or from home markets to fill the critical talent gaps in their operations.
“These opportunities in the biomedical industry have especially attracted candidates from countries like Australia, Europe and the United States where there are more talents with the needed experience, academic qualifications and international exposure compared to Singapore,” shares managing director, Karen Tok, of executive search and professional recruitment firm, ScienTec Consulting.
Multinational talents
As Asia’s developing markets and vast resources continue to attract global pharmaceutical and biotech companies, Singapore has become a strategically important business destination for foreign investments and life science talents. Also dubbed “Best Place for Expats to Work” on numerous media, the country’s high quality of living, efficient public infrastructure, favourable tax regimes and open, albeit regulated, immigration policies for global technical talents are major motivating factors for foreign talents to explore careers within the city-state.
While R&D positions continue to be filled by qualified resident talents, a talent shortage would compel organisations to hire outside of the local talent pool. This propensity is intensified when the time needed to seek niche talents can lead to missed operation start dates and financial penalties.
Call for graduates
“It’s a skills market with very intensive standards,” says Ms. Tok. “Hiring outlook remains positive, but roles in biomedical and scientific areas for the R&D facilities require, among others, clinical exposure plus commercial experience and, at least, a PhD. Right now, there are not enough local candidates to meet end-to-end requirements.”
The Singapore Department of Statistics’ 2012 Yearbook of Statistics shows a year-on-year growth from Singapore’s polytechnics and universities of new enrollments for life science courses. However, the period from 2009 to 2011 saw a much slower 5 per cent average growth rate, versus 2006 to 2008 with 27 per cent.
“Today, we’re seeing an uptick in enrollments for courses where the career path is more straight-forward and returns can be easily seen, such as business administration and even engineering,” she adds. “Students who are serious about a career in R&D should expect to invest a lot of time gaining early clinical exposure alongside further studies. Your academic career does not end at a degree. Students who work their way to a PhD, while taking industrial studentship programs to gain relevant experience, have stronger postdoctoral careers within the biomedical industry from R&D roles to management.”
New life for science graduates
Graduates from life science courses who are not interested in an intensive R&D track in the future, have real opportunities in the present as well. The pharmaceutical, biotechnology and medical device industries, among others, have a range of career opportunities in commercial roles.
New manufacturing plants and regional headquarters in Singapore need ready-talents for corporate and plant jobs. And new players, needing to penetrate the market, will continue to grow their demand for sales and marketing positions that require a life science background and familiarity with local customers. Other positions that are in continuous demand, are in regulatory affairs and commercial management functions.
While Singapore’s biomedical industry continues to grow, we will continue to see more talents join the workforce year-on-year. However, keeping pace with the increasing demand for rigorous expertise will demand a sustained and concerted effort from the country’s education system to produce qualified PhD graduates, as well as sustaining the interest of incoming students.
About ScienTec Consulting
ScienTec Consulting offers a range of executive search, specialist search, professional recruitment and general staffing services under its key brands ScienTec Search and ScienTec Personnel. A recognised provider of flexible and scalable cross-border talent solutions for companies building their operational presence in Asia, ScienTec Consulting responds to the hiring needs of budding companies and Fortune 500 clients. For more information on ScienTec Consulting’s services, visit www.ScienTecConsulting.com.
Contact
ScienTec Consulting Pte. Ltd.
Francis Somera
+65 8354 4664
www.ScienTecConsulting.com
Francis Somera
+65 8354 4664
www.ScienTecConsulting.com
Contact
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