Roll Up Your Sleeves... and Hold Onto That Job!

By: Katie Lapins, CIS Senior Compliance Consultant
katielapins@cis-partners.com

These are dark days in pharma/biotech... The economy has continued to sputter, regardless of the actions of politicians and CEOs, despite the prayers of workers at risk. I’ve tried so hard to not “go negative,” but the time has come for me to admit the reality of our times. If you’re reading this blog, you’ve most likely noticed it, too. The numbers are staggering to me – I didn’t expect them to be so high. According to Fierce Biotech, layoffs in the pharma/biotech world are unprecedented, and they are affecting large and small companies alike.

If you’re like me, all of these layoffs (and the overall economic environment) create just a bit of uncertainty and nervousness. Many people have little control over the financial situation of their employer, so the only area in which most have some semblance of control is in what I call their own “professional strategies.” This concept is discussed in the latest issue of Money magazine, which provided the following recommendations:

1. Stand out and step up. Complete assignments on time, volunteer to take on additional work and make sure your boss (and your boss’s boss) know your contributions.

2. Be a money-maker. Find ways to save money or to bring in more revenues. Even if you’re not a sales rep, identifying a cheaper vendor or more efficient way of doing something is a valuable contribution.

3. Don’t be a downer. Try to keep a positive attitude and make an effort to be a team player. Another good recommendation is to avoid those who seem to constantly complain. Bad attitudes can be contagious.

4. Increase your value. If you’re the only person who knows how to do something, it’s a bit harder for your company to eliminate you and/or your position (but not impossible!). Learn more; broaden your area of expertise, even if it is on your own time.

5. Go beyond your job description. Most people are expected to work harder these days, so you can either complain about it, resist it (see #3 above), or you can look at it as an opportunity (see #1 above).

6. Make a sacrifice. If you’re paid more than others or have superb benefits, offer to forgo a bonus or salary increase if the company is facing difficult times. (This is described as the riskiest of the options and I definitely agree. I thought about leaving it out in case my boss reads this but decided I didn’t meet the requirements!)

I realize that these strategies won’t always save a job. However, none of them will make you more likely to lose your job. And if you do find yourself back in the job market, they will help make you more competitive.

Despite the bad reputation currently held by the pharma/biotech industry, it is one I am proud to be a part of, because of its dedication to eradicating illnesses, treating diseases, and saving lives. So, for all the unfortunate individuals who have lost their jobs during this downturn, and for the rest of us worried about what tomorrow may bring, I sincerely hope that recovery for our industry, and for our country, comes soon.


Sources:
(http://www.fiercebiotech.com/tags/layoffs?utm_medium=nl&utm_source=internal&cmp-id=EMC-NL-FB&dest=FB)

Rosato, D (2009, February). Fireproof Your Job. Money, 38(2), 81 – 84.