Hays has reported the emergence of aggressive sales strategies in Malaysia’s life sciences industry as companies try to capitalise on market share. The resulting demand for roles on both commercial and technical sides of the industry is marked by attractive packages and benefits for the right candidates, providing they match the increasingly selective requirements of employers.
A report from Hays acknowledges that Malaysia’s bio medical, pharmaceutical, and healthcare industries have been a cause of much pride, with the country being ranked first in the Best Healthcare in the World category of the 2019 International Living Annual Global Retirement Index.
This impressive achievement, alongside the country’s near-universal healthcare status and increasing governmental support, hasculminated into a rosy outlook for Malaysia’s life sciences industry – an opinion reflected by an equally healthy recruitment market that is seeing a balanced supply and demand of both jobs and candidates.
Owing to the spike in sales functions, mid-level commercial roles such as product specialists, medical representatives and medical science liaisons (MSL) have consistently been in demand for the last few years and are currently highly sought after in the market.This may be due to the high levels of specialisation required in these areas, especially in key therapeutic areas. The most important requirement, is a good network and the channels a candidate can service, such as private or government-owned hospitals and clinics.
On the technical side, popular roles include those related to regulatory affairs, quality assurance (QA) and quality control (QC). Regulatory roles are especially in demand as they require candidates who have existing pharmacist licenses and the ability to liaise with regulatory bodies.
For the candidates who do make it through, the benefits are many. Selected candidates can expect solid salary structures and competitive remuneration, as well as benefits like work life balance (hours), contractual bonuses, generous fixed allowances, and, for commercial roles, good pay-outs in terms of sales incentives and commissions.
Life sciences companies are also increasingly investing more into employee engagement and training programmes to motivate and upskill their employees.
Tom Osborne, Managing Director at Hays Malaysia commented: “Considering the employee focussed benefits and consistent support from the government, the health of Malaysia’s life sciences market is optimistic news for both experienced candidates and young hopefuls in Malaysia looking to develop a career in life sciences. While jobs may be difficult to land, they are not as difficult to find in the current climate, making them a rare spot of safety in an increasingly turbulent global labour market.”