March 4, 2015

Cartus Industry Profile Reports: Pharma

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Mar

04

Cartus Industry Profile Reports: Pharma

Cartus Industry Profiles present snapshots of the different ways in which individual industries approach key issues related to the handling of their relocation programs, based on data compiled for the Cartus 2014 Global Mobility Policy & Practices survey.

This profile provides a summary of responses from individuals in the Pharma industry and compares them to overall survey responses.

Pharma’s Challenges

The Pharma industry is facing a number of challenges with changing market conditions, including costs, competition, and increasing regulations. For example, by many estimates, two-thirds of drug launches fall short of expectations. This is likely the reason why, while cost control topped the list of the sector’s challenges at 80%, the need to secure and foster a robust talent pool is also a key driver for increases in mobility. Sector respondents also indicated that they are likely to increase expenditures to  provide more benefits to assignees.

How Pharma is Different

The 2010 trend of “young and single” assignees seems to be changing. In 2013, the most common demographic of assignee was those aged 40-49, married or with a partner, and accompanied by the dependent family while on assignment. In fact, Pharma industry companies were far more likely than other industries to allow accompanying family members on long-term assignments. This indicates that the extra cost is worth the well-being of their employees. The most common reasons for turning down an assignment were family/personal circumstances and spousal employment, and perhaps allowing accompanying family members on assignments is intended to encourage the most talented candidates to relocate.

To request the Pharma sector profile, or a profile for another industry sector, contact your Cartus representative or email TrustedGuidance@Cartus.com.

Please also visit our Resource Hub on cartus.com for information on a wide variety of relocation-related topics.

In addition to Pharma, Cartus also offers reporting on the following industries:

•  Finance
•  Oil & Gas
•  Consumer Goods
•  Manufacturing/Construction
•  Raw Materials
•  Service/Media
•  Technology

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Posted By

Cindy Madden

About Cindy

Cindy Madden is Director of the Cartus Consulting Solutions practice, which supports clients and prospects in the areas of Global Policy and Program Design, Group Moves, Destination Location Research, and the development of customized mobility websites. Cindy has more than 27 years’ experience in the relocation industry in a variety of roles, including account management and sales.

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