16 September 2010:
Life science leaders believe the Coalition Government will improve the business environment in their sector, but remain downbeat about the UK’s ability to compete effectively for global investment, according to a survey published today by ST&I (Science, Technology & Innovation) Partners.
The UK Life Science Leaders’ Survey 2010, sponsored by leading executive search and interim management specialist RSA, reveals that eight out of ten (82%) general managers (GMs) felt the coalition would have either a positive or very positive impact on general business conditions.
Competition concerns
However, many GMs also report reduced access to funds and the effect of public spending cutbacks on medicine prices as key concerns. Redundancies and site closures were cited as contributing to staff attrition and a reduction in morale, with talent retention and availability of skilled workers also cited as a key issue facing GMs in the coming two years.
The survey, an executive summary of which is published on the RSA website today, was based on the responses of 390 key leaders from across the life science and healthcare industry in the UK.
Tarquin Bennett-Coles, Director of RSA Interims commented: “It is clear that the specific sectors are looking for the Government to back up their pro life sciences industry view with initiatives that promote collaboration and allow easier access to decision makers and funding streams.”
He added: “The UK is falling behind competitively so strategies that allow companies to utilise the talent and resources we have are needed more than ever. Collaboration between academia, NHS and industry needs to be fostered and incentives – and access to funding - put in place to encourage this.”
Despite current concerns, 64% of GMs expect the coalition to have a positive impact on access to skills.
Opportunities and threats for talent retention.
The survey also gave an insight into the expected impact of the coalition on key areas of the life sciences, from Pre-Clinical R&D and Medical Affairs to Supply Chain and Marketing.
Among the key issues, respondents cite the impact of budget reductions in academia as a current key issue, expressing concerns that the skill-set of graduates could suffer as a result. Concerns were also expressed over the migration of staff overseas if the UK loses its status as a centre of academic excellence.
Nevertheless, 62% of Pre-Clinical R&D leaders believe that academic industry collaboration will improve under the current Government. And there is a belief that the coalition could improve the situation, with 64% of general managers and 60% of pre-clinical research leaders expecting the new Government to have a positive impact on access to skills.
Worries over the reorganisation of the NHS permeated all sectors, with respondents uncertain on the impact this will have on NHS engagement and market access, and the potential for declining morale. However, opportunities were seen in collaboration and open innovation, increased reliance on health outcomes and greater scope for new technologies.
Nick Stephens, CEO of RSA commented: “Holding on to the best talent is going to be crucial whether this is at the lab bench or at senior leadership level. The Government needs to create incentives and plans to allow easy access to this talent in the UK and from abroad.
He adds: “The UK needs help in addressing the regulatory hurdles we have in place to ensure that the UK can compete on a level playing field.”
According to Mr Stephens, companies can help themselves by taking a long-term, strategic approach to talent management, enabling them to maximise strengths and ensure they are best placed to cope with uncertainties and changes in the life sciences environment.
If you would like to talk in depth about the UK Life Science Leaders’ Survey 2010 and its results with RSA please call RSA on +44 (0)1707 259333 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
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About this research
Research was conducted amongst 390 key leaders working in the global life sciences industry. Data was collected in July 2010. For more information, please email
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About RSA
RSA is a global leader in Executive Search and Interim Management to the Life Sciences sectors with offices in China, Germany, Singapore, Switzerland, UK and USA. RSA was ranked 38 in the 2010 UK Sunday Times' International Track 100. To find out more go to www.theRSAgroup.com.
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