Modest Job Growth Projected for State’s Pharmaceutical and Medical Technology Industry
Bridgewater, NJ, May 18, 2007 — New Jersey’s pharmaceutical and medical technology companies are citing a striking disparity between 6 high demand occupations and the number of qualified workers to fill them, according to a new report issued today by the HealthCare Institute of New Jersey (HINJ). The report also projects modest job growth in the sector, across all functional areas, during the next four years.
“The Workforce Needs of New Jersey’s Pharmaceutical and Medical Technology Industry,” identifies current and future workforce needs of the sector. The report, prepared by The John J. Heldrich Center for Workforce Development at Rutgers, the State University of New Jersey, was based on an online survey of HINJ members. The survey was conducted in the spring of 2006.
“The good news is that the industry is continuing to produce high-skilled, high-wage jobs. The bad news is that we may not have enough people to fill them. Our challenge – as an industry and as a state – will be to pursue strategies that attract young people to the math and sciences,” said Hon. Bob Franks, President of the HealthCare Institute of New Jersey.
The report findings include:
- High demand for 6 occupations in the industry: Product and Marketing Managers, Clinical Scientists, Regulatory Affairs Managers, Medical Doctors, Biostatisticians and Engineers;
- Modest growth across all functional areas in the pharmaceutical and medical technology industry during the next four years;
- Relatively low numbers of college students with specific degrees in demand by the industry. These degrees include bachelor’s degrees in biochemistry, chemistry, animal science, and marketing, as well as master’s degrees and doctoral degrees in a variety of scientific and business areas;
- High-levels of projected growth through 2010 for some occupations including clinical scientists, public relations managers and lawyers; and
- Half of all jobs in the sector in New Jersey are in corporate administration, marketing and sales. A quarter of the jobs are in basic research and clinical development.
- As a result, the report urges that a concerted effort be made to encourage students toward math and science disciplines, so that there will be enough individuals to fill these new jobs.
“The Heldrich Center report is a call to action for New Jersey’s institutions of higher learning. Our state’s pharmaceutical and medical technology companies are struggling to find qualified workers in six key occupations,” said Dr. Carl Van Horn, Professor and Director, John J. Heldrich Center for Workforce Development, Rutgers University.
“New Jersey’s colleges and universities must play a stronger, more focused role in preparing students for these career opportunities. The Center’s report provides a detailed roadmap for future industry-education partnerships that will benefit both students and HINJ member companies,” he said.
The pharmaceutical and medical technology industry is and will continue to be an important part of New Jersey’s economy. HINJ members currently employ 60,000 people in the state and have an estimated economic impact of $27 billion. A world-class, highly-skilled workforce is necessary to ensure the continued success of the life sciences sector.
“New Jersey boasts one of the most talented and skilled workforces in the world. We have more scientists per square mile and more high-tech workers than any other state in the nation. Still, the importance of science and math in K-12 and higher education cannot be overstated. Working with our partners in state government, higher education and the life sciences community, we hope to bridge the gap between available jobs and available workers to fill them,” said Rich Bagger, Chairman of HINJ and Senior Vice President, Worldwide Public Affairs and Policy, Pfizer Inc.
To address the hiring challenges presented by the findings in the study, the report is being widely promoted to the public sector and government and educational institutions to begin to address the long-term workforce needs of the industry. HINJ and its members aim to develop and enact a far-reaching workforce development strategy working in collaboration with other partners in the state.
Several representatives from state government, higher education and the business community reacted to the report:
“Governor Corzine has long recognized the importance of New Jersey’s pharmaceutical and medical technology industry. The Governor’s long-term economic strategy is focused on this critical high technology sector, and the competition is fierce and global. Bringing state government and higher education resources together was a priority outlined in the economic growth strategy and will be a focus going forward; and the Heldrich report validates that effort and will inform our future decision making,” commented Gary Rose, Chief, New Jersey Office of Economic Growth.
“By bringing together education and training providers, the business community and our workforce development system, we are developing a world-class workforce—one with cutting-edge skills that meet the emerging needs of employers,” said Commissioner David J. Socolow of the New Jersey Department of Labor and Workforce Development.
“This report gives us insight into this industry’s employment needs. It reflects the areas that are being addressed through our $2.8 million investment in High-Growth Workforce Investment Grants over the past year, funding training partnerships with employers in the pharmaceutical and biotechnology sectors. We are also working to meet the Life Sciences industry’s workforce needs through a Workforce Innovations in Regional Economic Development (WIRED) initiative that recently received a $6.6 million federal grant for the Delaware Valley Innovation Network in southwestern New Jersey, southeastern Pennsylvania and Delaware,” Socolow continued.
“In an increasingly global marketplace, it is critical that we prepare students to compete, contribute and succeed in areas of high growth such as pharmaceutical and medical technology. The New Jersey Commission on Higher Education is working with the state’s institutions of higher learning to strengthen the pipeline to degrees in these in-demand areas. The Commission is particularly focused on increasing the number of students from under-represented groups in the science and engineering fields,” Laurence M. Downes, Chairman, New Jersey Commission on Higher Education and Chairman and CEO of New Jersey Resources.
In 2002, HINJ commissioned and released a report, “Looking Ahead: A Workforce Supply and Demand Analysis for New Jersey’s Pharmaceutical and Medical Technology Industry.” That report highlighted the emerging and long-term needs of the industry and concluded that workforce projections estimate that New Jersey’s pharmaceutical and medical technology industry will continue to expand.
This report is based on an online survey of two-thirds of HINJ member companies. These companies represent 38,000 of the 60,000 jobs at HINJ member companies.
The survey requested information by functional area, occupational title, educational level, and degree. Data were collected on number of employees, job openings, recent hires, and employment projections. In addition, HINJ member companies were also asked to assess the difficulty of hiring specific occupations and degrees using a low-medium-high scale. Finally, structured interviews were conducted with human resources managers at HINJ member companies to profile the skill and educational requirements of high-demand occupations.
About HINJ The HealthCare Institute of New Jersey is a trade association for the research-based pharmaceutical and medical technology industry in New Jersey. Founded in 1997, the Institute serves as a unified voice for the industry and seeks to build awareness of the industry’s impact on New Jersey’s quality of life and economic well-being. There are currently 30 members of the HealthCare Institute of New Jersey.