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Pfizer announced earlier today that it was going to cut R&D jobs and abandon its research efforts in the areas of cardiovascular diseases, cholesterol management, osteoporosis, anemia and liver and muscle diseases. The company plans to refocus it drug development in five therapeutic areas including Alzheimer’s; diabetes; immune disorders and inflammation; cancer; pain; and mental illness, including schizophrenia. Also, the company will continue its work on anti-thrombotic agents to prevent blood clots.

The job cuts and refocusing are part of a previously announced plan to cut about $2 billion dollars from Pfizer’s operating budget. Over the past 15 years, Pfizer has gone on an unprecedented buying spree in an attempt to acquire blockbuster drugs and bolster its flagging internal drug development pipeline. Unfortunately, the gamble has not paid off and Pfizer must now attempt to reinvent itself to restore shareholder value and instill investor confidence. 

Unlike many of its competitors, Pfizer failed to invest in and capitalize on early opportunities in the biotechnology industry. The company has been trying to play catch up ever since. To that end, over the past year or so, Pfizer invested in or purchased several small biopharmaceutical companies to demonstrate its commitment to biotechnology.  It may be “too little too late!” Unfortunately, because of a lack of vision and foresight by company executives, many Pfizer employees will have to pay the ultimate price of losing their jobs as the US falls deeper into recession.

Hat tip to Pharmalot and the WSJ Health Blog.

Until next time…

Good Luck and Good Job Hunting!!!!!!!!!

 

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Online career sites like Monster.com, CareerBuilder.com and Yahoo Hot Jobs have gotten so big and over subscribed that they are no longer useful to most jobseekers. Many career development experts have discovered that the large career sites tend to overwhelm jobseekers because of the enormity of job possibilities that appear on them.  Unfortunately, this seemingly endless supply of job opportunities frequently induces jobseekers to spend too much time applying for online jobs and not enough time exploring non-internet based job possibilities. While applying for online jobs is facile and may be emotionally-gratifying, it usually doesn’t culminate in many face-to-face interviews or job offers for that matter. This is because most online job applications are screened by software programs looking for key words or phrases and, if your resume doesn’t contain them it will not be reviewed by a human. Further, many of the openings posted on job boards are actually placed there by recruiters and contract employment agencies—not actual companies seeking to fill positions. Often times, recruiters post expired or fictitious job descriptions on the boards to “pad” their candidate databases with qualified applicants who can be used for future job orders. Finally, sometimes unscrupulous people/companies place false or misleading ads on the big job boards. Unfortunately, these people have no qualms about taking financial advantage of job seekers who may be desperate or “down on their luck

The declining usefulness of the big online job boards has given rise to smaller career sites like Indeed.com and Simply Hired.com which are driven by powerful search engines and permit jobseekers to customize job searches based on industry, geography, salary and job availability. Other companies like BioInsights.com and OneScience.com have built niche job boards that specialize in industry-specific job listings (in this case pharma and biotech). While these new careers site are more focused, easier to navigate and frequently yield better results than the large job boards, they too can be exploited by recruiters and unscrupulous would-be employers. 

The growing popularity of social networking sites represents an important paradigm shift for jobseekers and employers. Belonging to popular social networks like LinkedIn, Facebook or Plaxo allows job seekers to cast a wider net by taking advantage of the contacts or connections that their “friends” may have at various companies and organizations. Further, it is not uncommon for people within a network to pass on resumes or put in a good word to hiring managers on behalf of friends or contacts from their network who are seeking employment.  However, it is important to also point out that recruiters and contract employment agencies have also recognized the potential and power of social networks. Recruiters and HR specialists now routinely troll social networks (particularly Linked In and Facebook) for qualified candidates and don’t hesitate to contact “qualified candidates” whether or not they are actively looking for a job. Finally, and perhaps most importantly, hiring managers and recruiters are becoming increasingly reliant on social networks to screen and gather personal information about job candidates to assess their suitability for certain jobs. According to a 2006 study conducted by the Society for Human Resource Management, recruiters use social networking sites 23 per cent more than they did in 2006 to verify resumes, screen applicants and fill vacancies. Also, the study found that possible negative information posted on social network profiles—personal views, alcohol or drug use, sexually-oriented pictures or social commentaries— have a greater impact on hiring decisions than any positive information that may also appear on job seeker profiles.

The growing use of social networks by job seekers to find employment and employers and recruiters to screen job applicants has profound implications for people who belong to these networks. With this in mind, if you currently have profiles associated with your legal name on social networks like Face Book, MySpace or Linked In, I strongly recommend that are completely devoid of the following: 1) sexually suggestive or explicit photographs, 2) posts or photos depicting excessive alcohol or drug use, 3) any rants that you may have posted about your boss or a current place of employment and 4) personal information about your age, marital status, children or sexual orientation. Also, if you are actively involved in a job search, it is a good idea to upload a short bio or resume to your profile and to post any bonafide recommendations or career award and honors that you may have received. However, if you find the prospect of having to sanitize your MySpace and Facebook profiles unpalatable, then I suggest that you remove your name from your current profile(s) and replace it with an alias (your friends will still  know who you are) and build another profile with your real name for professional use only.   

We live in a highly competitive, constantly-changing world where even slightly negative perceptions about a person may mean the different between employment or not. Ironically, while the Internet allows greater freedom of expression, it also permits people with decision-making powers to more easily scrutinize our daily activities and gain greater insights into our personal lives. Consequently, the onus is on jobseekers to regulate or control what prospective employers may learn about them online. Put simply, the success or failure of your career may literally be in your own hands. That said, the next time that you update your Facebook or MySpace profiles take a moment (before you hit the “send button”) and ask yourself whether or not the new information “is going to help or hurt my career?”

Until next time…

 

Good Luck and Good Job Hunting!!!!!!!!

 

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The Pharmalot Blog reported today that Schering Plough will eliminate 1,000sales jobs or 20% of its sales force by October. This latest round of layoffs is part of a reorganization plan that was announced last year to cut 10% of it workforce by 2012 (although must of the downsizing will occur by 2010). The reorganization was announced shortly after Schering purchased Organon Biosciences and the “wheels came off” of its Zetia/Vytorin anti-cholesterol medication franchise.

In other news, BioJobBlog heard through the grapevine that Merck has been quietly laying off workers (since Labor Day) in an attempt to reduce its workforce by 20% over the next few years. Many very talented people who have been with Merck for years are looking for new jobs.

Finally, Montvale, NJ-based Memory Pharmaceuticals announced that it was laying off 55 workers or roughly 50% of its workforce. The company, which went public in a much heralded IPO in 2004, focuses on developing treatments for cognitive disorders. Although the company has never been profitable, the person who ran the company for the past three years (first as president, then CEO and finally CFO) earned $876,807 last year. Not surprisingly, he will be leaving the company as part of the downsizing initiative.

The ongoing pharma slowdown coupled with this week’s Wall Street meltdown (many people who work on Wall Street live in New Jersey) should make New Jersey a very challenging and interesting place to live in the coming months.

Hat tip to Ed at Pharmalot.

Until next time….

 

Good Luck and Good Job Hunting (I would avoid NJ)!!!!!!

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Astellas, a company formed in 2005 following the merger of Japanese-based pharmaceutical giants, Yamanouchi Pharmaceutical Co. Ltd. and Fujisawa Pharmaceutical Co. Ltd, announced that it is hoping that 200 pharmaceutical workers in its production facility in Norman, OK will take early retirement to cut labor costs. The downsizing is in response to impending patent expiry of the company’s blockbuster urology product Flomax.

A company spokesperson said “The early retirement program seeks to reduce the workforce by about 30 percent, which would leave about 140 people at the Norman plant.” The loss of these jobs is likely to have a substantial economic impact on the small Oklahoma town many of whose residents have worked at the plant for over 20 years.

Astellas employees around 17,000 workers worldwide. When pharmaceutical jobs are cut in OK, you know the industry is in bad shape.

Hat tip to Ed at Pharmalot

Until next time…

Good Luck and Good Job Hunting!!!!!!

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After returning from a job interview, the most frequently asked question by your colleagues and friends is likely to be “So how did it go.” Unfortunately, in most cases, the answers that you provide are purely speculative because the only people who really know whether your interview was successful or not is the hiring manager who interviewed you. That said, are there any telltale signs that your interview went well and that a job offer may be in your future? Peggy McKee over at the Medical Sales Recruiter blog came across an informative post  that may provide some answers. 

FYI, in my experience as a professional recruiter, the best indicator that a job candidate’s face-to-face was a winner, was a rapid response (usually a telephone call) from the hiring manager. Since many of you will likely not be working with a recruiter, read and learn!

Until next time…

Good Luck and Good Job Hunting!!!!!!!

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Ed Silverman at the Pharmalot blog reported that Abbott disclosed in a Securities and Exchange filing that it will cut about 1,000 jobs in medical diagnostics over the next four years to cut costs and save about $150 million per year.

According to an Abbot spokesperson “The streamlining includes the closing of a clinical chemistry plant in South Pasadena, California and transferring production of some diagnostic products to plants in Europe that are closer to a big part of the company’s customer base.”

I guess this is good news for Abbott employees—the company could have eliminated all 1,000 positions in one fell swoop. The four year timeline gives current Abbott employees some time to beef up their resumes.

 

Until next time…

 

Good Luck and Good Job Hunting!!!!!

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 As expected, Genentech summarily rejected Roche’s offer to purchase it for $43.7 billion. Genentech executives claim that Roche’s offer is too low and it undervalues the actual worth of the company. Roche offered Genentech about $88 per share for remaining 44% of the outstanding shares of stock that it doesn’t already own. Many Wall Street analysts think that the actual value of Genentech stock is roughly $100 per share. As any business person knows (with or without an MBA), the first offer is usually not the last offered that is tendered in any deal.

 

Because Roche owns a majority controlling interest in Genentech, it is not clear whether Genentech can avoid actually being purchased by Roche. Genentech executives have publicly stated that earlier agreements between the two companies that guide the sale of Genentech may no longer be in effect and that they will not abide by them.  I suspect that only time (or perhaps the courts) will tell.

 

Roche has already indicated that if it acquires Genentech, there will likely be job cuts to its 10,700 member workforce (something that Genentech wants to prevent). I suspect that Genentech’s rejection of Roche’s offer is the first in a series designed to maximize shareholder value for Genentech (not to mention the large sums of money that company workers and executives who own stock options will make as a result of a sale).

 

I predict that Roche will ultimately buy Genentech. The only thing that remains to be determined is how much Roche will have to pay to acquire the biotech giant. Roche cannot afford to let this deal go south—a bright and successful future depends on it!

 

If I were a Genentech employee, I would be dusting off the old resume right about now.

 

Until next time….

 

Good Luck and Good Job Hunting!!!

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Pfizer announced today that is it closing a manufacturing facility in Cork Ireland.  Approximately 180 people will lose their jobs. Pfizer tried to sell the plant but was unable to find a buyer. The Cork plant will officially be closed sometime in 2009.  Another of Pfizer’s five Irish manufacturing facilities located in Ringaskiddy is also on the block. That facility employs about 300 people. Pfizer cites the 2006 failure of torcetrapib, an experimental cholesterol drug as the reason for the plant closings.

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As much as I hate to admit it, I have been fired at least three times (usually for insubordination or rabble rousing) from jobs in my long and illustrious career. My guess is that anybody who has worked in the private sector has been fired at least once! Of course, nobody ever admits (unless asked) that they have been fired from a job. The point is that many people get fired and if you’re one of the unlucky people who get does fired; you will need to know how to deal with a “termination” on your resume. After all, once you are fired, you will likely need to look for a new job!

I came across a well- crafted post that provides ideas and insights about dealing with being fired and employment gaps when constructing a resume. Check it out—someday you may need to use some of the proffered tips.

Until next time….

Good Luck and Good Job Hunting!!!!!!!

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Despite an increase in profits, BMS announced today that it will continue with its Productivity Transformation Initiative (PTI) that was instituted last fall. According to the PTI, BMS must save $1.0 billion over the next 2 years. Of course, the only way to accomplish this is by laying off employees whose jobs are not directly related to the process of transforming BMS into a “ next generation biopharma company” (Would somebody please write me and explain what that means)???? I suspect that BMS employees will be receiving “pink slips” after Labor Day.

This has been a devastating week for the NJ-based pharmaceutical industry. First, Teva announced last week that it will buy Montvale NJ-based Barr Pharmaceuticals and then earlier this week Roche issued a press release indicating that it will move its corporate headquarters from Nutley NJ to South San Francisco (Genentech’s headquarters) by 2010. The impending layoffs at BMS coupled with job freezes and downsizing at other NJ pharma companies like Schering Plough and Merck may signal the beginning of the end of New Jersey’s status as the “nation’s medicine chest.”

Until next time….

Good Luck and Good Job Hunting (forget New Jersey)!

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Who doesn’t like to gossip? The intrigue…the drama….the sheer joy of it! But, can gossiping hurt your career?  Based on my experiences and numerous job losses, the answer to that question is a resounding yes!!! 

That said, others may feel otherwise about workplace gossip.  After all, doesn’t everybody gossip? And, why would a little gossip hurt one’s career? I found an interesting article on the effects of workplace gossiping and how to safely indulge and manage the impulse when it strikes you at work

Until next time….

Good Luck and Good Job Hunting (a good friend of mine heard a rumor…..)!!!!!!!!

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On the heels of yesterday’s announcement that it wants to buy Genentech, Roche, in a surprise move, announced today that it will move its Nutley, NJ-based US corporate headquarters to California. According to a report, research and development activities in oncology and metabolism at the Nutley site will be expanded. However, the company will consolidate all Nutley-based finance and information-technology operations and close manufacturing facilities on the site by 2010. It is not clear how many of Roche’s 3,240 New Jersey employees will be affected by the proposed move to South San Francisco. Suffice it to say, more than a few Roche employees are likely to lose their jobs after the company’s headquarters heads west.

Once dubbed the”nation's medicine chest”, New Jersey has steadily been losing pharmaceutical jobs since 1990 when 20% of all US pharmaceutical jobs were in NJ—at present 13.7% of  American pharmaceutical jobs reside in NJ. It has been a long, slow burn for the pharmaceutical and biotechnology workforce in the Garden State.

The Roche announcement comes as several other New Jersey drug makers, including Schering-Plough and Johnson & Johnson's Ortho Biotech unit, have been laying off workers because of the economic downturn and tough times in the industry. It also comes several days after Barr Pharmaceuticals, headquartered in Montvale, announced that it is being acquired for $7.5 billion by Israeli generics giant Teva.  

The growing scarcity of pharmaceutical and biotechnology jobs coupled with the highest property taxes in the US may cause a mass migration from the state. Not that there is anything wrong with that!!!!!!

Until next time….

Good Luck and Good Job Hunting!!!!!

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Pfizer is at it again. The company announced today that it will cut 275 jobs from its manufacturing operations in Kalamazoo County before the end of the year. The cut will reduce the company’s total employee roster to about 2,500 at the Portage, MI site.

Pfizer has been steadily streamlining and downsizing operations in Michigan ever since it inherited several Michigan-based sites after it acquired Pharmacia in 2002.

Not surprisingly, a company spokesman said “We operate in a highly competitive and constantly changing environment, and we have to adapt to that.'' Easy for him to say—he still has a job. 

The announcement comes on the heels of a rumor circulating last week that some Pfizer employees at its Croton R&D facility may lose their jobs next fall.

Until next time….

Good Luck and Good Job Hunting (avoid Michigan)!!!!!!!!!!

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According to apost at Pharmalot, rumor has it that Pfizer will lay off a number of chemists at its main R&D facility in Groton, Connecticut as early as next Fall The rumor supposedly began at an R&D blog run by a former Pfizer employee (always a reliable source for inside information). 

M y colleague Ed Silverman who runs Pharmalot contacted Pfizer about the rumor and received this response “A leading R&D organization must evolve, continue to build on its strengths, capture competitive advantage wherever possible and be realistic about what it will take to return Pfizer to growth. What I can assure you is that if and when there are organizational changes, those decisions are never taken lightly. Our guiding principle is that colleagues hear about important Pfizer news from company leadership first and are treated with the utmost respect.” In other words, Pfizer will likely be laying off more employees in the very near future.

Hat tip to Ed!

Until next time…

Good Luck, Good Job Hunting and Happy 4^th of July!!!!!

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With the price of gas and travel skyrocketing, many companies are cutting back on the number of face-to-face job interviews that they conduct. Instead, companies are resorting to alternate interviewing strategies that include multiple phone interviews, videoconferencing interviews and yes, even virtual interviews (check out Second Life) —how cool is that!!!! 

This means that job candidates must adapt to these new format in order to remain competitive. I came across an article that discusses how to approach and successfully manage these new interviewing formats.

Just remember to keep those wings and halos to a minimum during your next virtual interview!!!!

Until next time…

Good Luck and Good Job Hunting!!!!!!!!!

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Peggy McKee, the medical sales recruiter, offers some words of wisdom and advice on finding a job in today’s challenging job market. Read and learn….Hat tip to Peggy for the insights!

We’re in some tough economic times right now, and that can make it that much harder to find a job.  To help you out, Fortune magazine has 7 tips for job hunting in a tougher market.  They include:

1.  Request more face-to-face meetings.  Get your face in front of recruiters and your network instead of relying on e-mails and phone calls.  It will make more of an impression. 

2.  Step up your job-search activity.  This makes sense.  In many ways, a job search (like sales calls) is a numbers game.  Increase your odds by increasing your activity.

3.  Try to be as flexible as you can.  Consider contract work, part-time work, or starting at a lesser salary than you were hoping for.  It gets your foot in the door for other opportunities later.  Besides, less money is better than no money, right?

4.  Consider relocating.  Top jobs aren’t always where you are.  I love the idea of relocating and expanding your horizons…trying something new. 

5.  Scour the hidden job market.  Many jobs aren’t advertised.  Be proactive.  Use your network.  Or contact employers directly.  They might appreciate your initiative.

6.  Spend very little of your time on Internet job boards and help-wanted ads.  Look, but don’t focus.  Everyone’s looking here. 

7.  Take advantage of social networking sites.  Personally, I love LinkedIn.  But also, use MySpace or Facebook as part of your networking tactics.  Just be careful to keep it professional. 

Here are some more great tips to heat up your job search.  One last great idea (from the Sales Hub):   

You never know when or where you may meet a prospective employer. Memory sticks, flash-drives, or email versions of your resume on your Blackberry, Treo or iPhone are must-haves in today’s volatile employment market.

Until next time,

Good Luck and Good Job Hunting!!!!!!!!!!

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The Avandia debacle is still ravaging the employee ranks at GlaxoSmithKline especially at its Research Triangle Park, North Carolina and in Philadelphia locations. According to a post at Pharmalot, the UK-based drug manufacturer is cutting as many as 350 jobs (2.0% of its workforce) at both locations. This represents an almost 40% reduction in drug discovery and development activities that take place at both sites.

These cuts come after GSK closed a factory and drastically cut its sales force late last year. To make matters worse (particularly for those folks who lost their jobs) GSK purchased an early-stage drug discovery company called Sirtris Pharmaceuticals for about $720 million earlier this year. Clearly, company executives have more faith in external rather than internal drug discovery at GSK.

The saga continues……

Until next time

Good Luck and Good Job Hunting (forget North Carolina)!!!!!

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Peggy McKee wrote an interesting piece on her Medical Sales Recruiter blog about personal branding and developing an online presence to find a job. For those of you who haven’t heard about personal branding, it is de rigueur and the hottest thing on the net these days. Put simply, you, the jobseeker, are the brand and to be successful (get a job), the brand must be vigorously promoted! Personal branding can be easily achieved by creating profiles on social networks like MySpace, Facebook or Linked In or creating your own promotional website using your name as the domain name.  However, there are a few things that you ought to consider before you embark on your personal branding campaign. Peggy offers a few pointers and recommendations when it comes to both personal branding and your online persona.

Employers and recruiters research prospective candidates online to get more information about them before an interview is scheduled or an offer is extended.  This can work against you if your MySpace page is filled with “party” pics (or worse), but it can work for you if you have an effective online persona. 

Web Worker Daily rounds up several tips for developing an effective online presence:

• Check your Google profile.  What comes up when your name gets typed in?  Know what’s out there so you don’t get suprised.

• Own your domain name.  Even if you don’t want to do something with it now, you might later.

• Develop your personal brand.  Set up a LinkedIn profile.  Write a blog.  Be a guest writer on blogs specific to your industry (maybe you could write a post for me - describing your job, etc).   If you’re not sure what personal branding is or how to do it, there’s a lot available out there.  Here’s 3 articles to get you started:

The 6 P’s of Personal Branding (Persona, Positioning, Packaging, Presentation, Promotion, and Passion)

Three Keys to Building a Strong Personal Brand.  “A good brand has 3 main features:  clarity, consistency, and constancy.”

Dan Schwabel’s podcast, Top Social Media Tools for Turning Your E-Brand into a Powerhouse.  Let Dan show you how to choose what to use.

 Until next time…

Good Luck and Good Job Hunting (personal branding can’t hurt)!!!!!!!

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As a self-anointed career development professional, I frequently read blogs and online articles dealing with jobs and career development advice. That said,  I happened upon a piece in Yahoo Education entitled “Risky Business: Finding Job Security in Tough Times”. The article featured careers that may provide greater than average job security to employees. Everything was going great until I read the no. 4 career on the list–Medical Scientist– I kid you not. This is what the author had to say about medical/life scientists:

 “With increases in funding for treating cancer, AIDS, mental illness, and other diseases, corporate pharmaceutical, biotech, and university research labs need more people to develop vaccines and treatment drugs. Depending on your medical specialty, you'll typically need a master's degree or PhD. Often M.D.-holders choose research work over medical practice. You can begin traveling this path by earning a bachelor's degree in a biological science, and focusing on chemistry, biology, statistics, and research methods. Salaries in private sector biotech firms are typically higher than those offered at the college research level. There are also jobs with government medical-research agencies. Median salary range: $44,830 to $88,130.”

I ‘m not sure where the author has been or what she has been smoking but it seems to me that she is not in sync with industry trends. Maybe I ought to write to her and ask her to send me a list of companies that are currently hiring. I guess you really can’t believe everything that you read!

Until next time….

Good Luck and Good Job Hunting!!!!!!!!!!!!!

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When the job market gets tough, it is the “little things” that can make the difference between a job offer and a rejection letter. As you all know by now, face-to-face interviews are the “make or break” event in any job search. To that end, any edge that you can get may make the difference between being employed or receiving unemployment benefits in today’s job market. Although I am not a big fan of quizzes or surveys, it may be worth the time to take an ‘interview preparedness’ quiz that I found on Monster.com. I want to state upfront that I didn’t take the quiz nor can I vouch for its accuracy. That said, remember; it is the little things that frequently determine your fate at job interviews. 

Let me know how you fared!

Until next time…

Good Luck and Good Job Hunting!!!!!!!!

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Roche Diagnostics plans to transfer about 300 jobs from its Indianapolis facility to Germany over the next three years as part of a consolidation plan.

A Roche spokesperson announced yesterday that transfers will start in October and most will be completed by 2011. A limited number of employees will be offered transfers to Germany, but most will be laid off.

Most of the positions are in research and development of reagents, which are chemicals used in test kits for HIV, West Nile virus and other diseases. The company says about 85 percent of production for the unit affected by the transfers is already in Germany. Roche has about 2,800 employees in Indianapolis.

Like other sectors of the US economy, the pharmaceutical sector is getting whacked.

Until next time…

Good Luck and Good Job Hunting??????

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The key to successful negotiations of any kind is realizing that you ARE NOT going to get everything that you want or expect. Likewise, this means that the person(s) sitting on the other side of the proverbial table is not going to get everything that he/she wants either. Simply put, you have to “give-to-get” during negotiations to reach an agreement that is mutually acceptable to all parties.  Please note that I used the word “acceptable” rather than “satisfied” when referring to a negotiated agreement. In my experience, neither party is ever COMPLETELY satisfied with a negotiated agreement. Rather, the respective parties each received enough of what they initially wanted/expected to consider the deal ‘acceptable.”

When working as a professional recruiter, I determined, early on, that job offers are generally extended to “right-fit” candidates within several days after an interview. That said, if you haven’t heard back from a company within a week or so after your interview, it is likely that you are not their first choice for the position.  Nevertheless, when you receive a job offer, the most important thing to remember is that  ALL offers are negotiable. Based on my own personal and professional experiences, a company’s first offer is usually neither their best nor final offer.

Frequently, inexperienced job candidates are reluctant to negotiate an initial offer because they are afraid that the company might retract it if they appear “too greedy.” This is simply not the case. Because companies/organizations typically offer jobs to only those individuals who they want to work for them ,their primary objective is to do whatever is “reasonable” to induce the candidate to join their organization. Of course, companies sometimes have limited resources or flexibility regarding  what they can offer a candidate to accomplish this! That said, job candidates are obliged to test the limits of corporate flexibility to negotiate the best compensation package they can before they are required to make a decision of whether or not to join a company/organization. Simply put, most nonprofit organizations and corporate entities expect some back and forth negotiations before a candidate makes his/her decision to accept or reject a job offer.

In my experiences, there are certain things that can and can’t be negotiated after an offer has been extended. Things that  can be negotiated include:

• Starting salary
• Stock options
• Relocation costs
• Signing bonuses
• Start dates

In contrast, items that are rarely or cannot be negotiated are:

• Health benefits
• Rank/title
• Vacation time
• Performance bonuses

Although most employers expect candidates to negotiate job offers, the way in which the negotiations are handled and conducted are extremely important. Candidates must remember to be cordial and professional at all times and to never give a prospective employer an ultimatum–e.g., “If I don’t get this salary, I will not take the job”. Ultimatums are the “kiss of death” for any prospective employee because it signals that the individual is demanding, inflexible and likely to not be a team player. 

Another thing to remember is to not become emotionally invested in the negotiations taking place between the company and you. When a candidate becomes overly emotional or demanding during negotiations, exchanges between a company and candidate may become acrimonious and unpleasant. To increase the likelihood of success i.e. to get what you want, it is best to be as dispassionate and business-like when negotiating a job offer.  Nobody likes to negotiate with an overly emotional or unreasonable individual (take it from me–I know!).

When it comes to negotiating a job offer, the best case scenario is to allow a recruiter to negotiate the offer on your behalf.  Because a recruiter usually has a preexisting  relationship with the hiring manager, he/she can do all of the so called “heavy lifting” to help a candidate get what they can from a company. To that end, the recruiter generally knows before entering into negotiations with a prospective employer exactly what his/her candidate’s “needs” are and how far he/she can push the client to help a candidate secure the best offer. Needless to say, this option is only available to those candidates who used a recruiter to interview at the company/organization in the first place.

Negotiations become unnecessarily “nasty” or belligerent may come back to haunt you if you accept an offer and work at a particular company. To that end, you may find yourself working for or with the person(s) who you negotiated with!  And, if bad feelings were generated during the negotiation process, it may take some work to overcome the negative impression you created for yourself. For those of you who may not know, organizational/corporate memory has a long shelf life!

In my next post, I will discuss some strategic approaches and tactics that candidates can use to optimize a job offer from a prospective employer.

Until next time….

Good Luck and Good Job Hunting!!!!!!!!

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Eli Lilly & Co. announced today that it will eliminate 500 jobs at its manufacturing facility in Indianapolis, IN. The cuts will affect sites that manufacture active pharmaceutical ingredients for Lilly’s insulin products Humalog® and Humulin® and its osteoporosis medicine Forteo®.

Lilly is offering incentive packages for those employees who voluntarily leave the company. The company has already reduced its global headcount by twelve percent or about 5,500 people since 2004.

Times are tough and getting tougher each day in pharma land. Buckle up–its going to be a rough ride for jobseekers in the pharmaceutical and biotechnology industries.

Until next time….

Good Luck and Good Job Hunting (avoid Indianapolis, who wants to be a Hoosier anyway?)

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According to a post on the Wall Street Journal Health blog, Wyeth announced today that it is laying off about 1,200 marketing and sales representatives who helped support Protonix, its blockbuster heartburn and acid reflux medication. The job cuts are part of a previously announced “asset reallocation plan” that is designed to reduce the size of the company’s workforce by about 5% this year, and by 10% over the next three years.

The company employees about 50,000 people worldwide with roughly half of them in the U.S.  Like some of its competitors, Wyeth is facing stiff generic competition for several products that are slated to lose patent protection over the next couple of years and recently has had trouble getting many of its new drugs approved by the US Food and Drug Administration.

Until next time….

Good Luck and Good Job Hunting!!!!!!!!!!!

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I happened upon a Sunday morning talk show yesterday where one of the guests was discussing strategies that employees ought to adopt to keep their jobs in a recessionary economy. For those of you who haven’t been paying attention, the US economy lost 63,000 jobs last month; another bit of evidence that we are sliding into an unavoidable recession. 

The talk show guest posited that only those employees who were able to quickly adapt to rapidly changing corporate/business environments would keep their jobs; the other less adaptable employees would find themselves jobless. Call me crazy, but his analysis sounded eerily similar to Darwin’s principle of natural selection or “survival of the fittest”–only those members of a population who were able to adapt (through mutations in Darwin’s case)  to changing environmental conditions will survive; the other less adaptable members will perish. Imagine that, using a recessionary economy to illustrate one of the fundamental principles of Darwin’s theory of evolution–how cool is that?

Here are some insights into how to keep your job during a recession when many companies are unstable and in flux. First, employees who work at financially-troubled companies must embrace the changes frequently instituted by management whether or not they agree with them. Invariably, there will be a cadre of employees who openly and publicly criticize the “new corporate policies”–these will likely be the employees who are demoted or “right-sized” out of the company.  In Darwinian terms, these employees are unable to adapt to change and they will either be eliminated or their standing in the population (company) will be diminished.  On the other hand, the employees who are able to embrace change will not lose their jobs and will likely be able to maintain or improve their standing in the population (company).  In other words, adaptable employees have a selective, competitive advantage over unadaptable ones which will allow them to survive and flourish in their new environment. Second, it is probably not wise during periods of corporate upheaval, for mid-level managers or employees to tout their past accomplishments or remind management about their worth to the company. In times of change, management embraces individuals with forward-looking ideas (to facilitate change) not those who are rooted in the past and are invested in antiquated corporate policies and practices. Again, only those employees who adapt will be able to survive and compete in their new corporate environment.  Finally, as a science educator, it is always exhilarating and exciting to find new ways to teach Darwin’s Theory (sic) of Evolution so that it makes sense to lay audiences. Maybe watching Sunday morning talk shows isn’t a waste of time after all!!!!

Until next time… 

Good Luck and Good Job Hunting (adapt)!!!!!!!!!

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As some of you may know, I worked as a professional recruiter for about 3 years in the late 1990s. What surprised me the most during my recruiting sojourn was the undeserved disdain that people have for recruiters (or “headhunters” as they are known in the vernacular) and how little they understood about the inner workings of the recruiting industry. Like it or not, professional recruiting is an accepted part of corporate life!

Contrary to popular belief, recruiters don’t work for the people who are looking for jobs–they work for and are paid by the companies that engage them! Generally speaking, there are three types of recruiters. Retained recruiters are usually hired by corporate clients to fill senior level corporate positions and are paid a predetermined and agreed upon placement fee whether or not they fill a position. In other words, these recruiters are “on retainer” and work for companies on an “as needed basis.” Contingency recruiters, as the name implies, only get paid when a client company hires a job candidate that was brought to them by a recruiter. As you might imagine, contingency recruiting is a very fast paced, highly competitive and often stressful job–I was a contingency recruiter. Finally, the third type of recruiter, an exclusive contingency recruiter, is an amalgamation of executive and contingency recruiting. In this case, a recruiter receives a portion of his/her placement fee in advance and only receives the remainder when the position is filled with a candidate recommended by the recruiter.

Recruiters are expensive and they cost the companies that use them substantial sums of money. Placement fees usually range from 20% to as high as 45% of a new hires’s first year total compensation package. With this in mind, hiring managers use recruiters only when they need to find candidates for critical or difficult-to-fill positions. In general, companies rarely use recruiters to find entry level employees. However, most bioscience companies use recruiters and they typically have a stable of contingency recruiters that work with on a regular basis.

How Recruiters Work

Recruiters use a variety of tactics ranging from referrals to cold calling to get job orders from their corporate clients. Once a recruiter receives a job order, he/she develops a profile for right-fit candidates largely based on the job description, the salary range for the job, the company’s benefits, bonus and relocation packages and its corporate culture. Recruiters find prospective candidates by searching job candidate databases (compiled by the recruiter or the company the recruiter is working for), getting referrals from colleagues, industry professionals and other recruiters and by placing ads in specialty and trade magazines, or listing ads on web-based job boards (e.g. like Monster.com, Careerbuilder.com, Linked-In,  etc).  

Once a qualified candidate(s) has been identified, a recruiter will contact the candidate(s) to review and discuss the job opportunity with them. During the conversation, the recruiter will likely ask you about your background, years of experience, skill sets that you have mastered salary requirements and whether or not you are willing to relocate for the opportunity. When a recruiter determines that you may be a “right-fit candidate”i.e., you meet many, if not all, of the job specifications outlined in the job description, he/she will ask for a copy of your most recent resume/CV. Sometimes, after reviewing a resume/CV, a recruiter might ask a candidate to modify or rearrange it before he/she submits it to a client for consideration. Some recruiters will even do it for you–I can’t count the number of resumes that I modified or rewrote before I submitted them to my clients for review. For those of you who are interested in learning how to write a proper resume click here.

Typically, you will hear back from a recruiter within two or three days if a company is interested in moving forward with your candidacy. However, if you don’t hear back from a recruiter within a week, it is unlikely that you are being considered for the position. That said, it is not unreasonable to call or e-mail the recruiter if you don’t hear from him/her after several days.

Working with Recruiters

Because recruiters are expensive, most companies don’t use them to hire entry-level employees. Consequently, if you are a first-time or entry level job seeker, I wouldn’t spend a lot of time fielding calls from recruiters–it is unlikely that they will be able to help you in your job search. People who benefit the most from working with recruiters are individuals who have several years of work experience and are seeking new career opportunities.  

Based on my experiences as both a recruiter and jobseeker, I offer a few suggestions on how to work with professional recruiters.  First, you MUST tell the recruiter that he/she is NOT ALLOWED to send your resume/CV to a client without first discussing the opportunity with you and getting your permission to submit it. If left to their own devices, many contingency recruiters will submit your resume/CV to any jobs that vaguely resemble your background and skill sets. Because the life sciences industry is rather small, recruiters who blast your resume to multiple employers can jeopardize a candidate job at his/her current place of employment. Nobody wants their boss to know that they are looking for a new job! 

Second, it is a good idea to limit the number of recruiters who you worth with. There are a limited number of job orders in the bioscience recruiting universe and it is not uncommon for different recruiters to submit the same resume to multiple clients. While this does not hurt the recruiter’s reputation or business, it may signal to a prospective employer that a candidate is desperate to find a new job–something that may hinder your negotiating power if a job offer is proffered.

Third, work only with recruiters who you think are competent and have a proven track record of placing candidates into jobs. There are a lot of bonehead recruiters out there. Fourth, it is important to remember that you are probably not the only candidate whose resume he/she has submitted to a client company. Most recruiters try to submit at least three candidates per job order–it increases the likelihood and probability that he/she will make a placement (and actually get paid for their hard work). Finally, it is a good idea to stay in touch with recruiters who contact you to discuss possible job opportunities. I almost always return phones from recruiters who call me whether or not I am looking for a job. It never hurts to hear about the types of jobs that are out there especially with the current economy. Also, you may need a recruiter some day to find a new job!

Conclusions

Recruiters are a fact of life in the corporate world. That said, the next time you receive a call from a headhunter, I highly recommend that you be polite, carefully listen to the job opportunities that they are pitching, get their contact information into your e-mail/cell phone address book and don’t hesitate to contact them if you find yourself out of work!

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Germany’s GPC Biotech announced another round of job cuts as it tries to regroup after its failure to win US approval of its experimental prostate cancer drug satraplatin.

The company said that this latest restructuring will sharpen its focus on oncology clinical development efforts and further reduce costs to extend its cash reserves to cover three years of operating expenses. The restructuring is mainly focused on GPC’s early-stage research activities in Munich and will result in 38 job losses. The remaining work force will be 14 in Munich and 49 in Princeton, New Jersey. These latest cuts come after an announcement in November that the firm was slashing its workforce by over 100.

A GPC Biotech spokesperson also announced that the company is discontinuing internal development of the 1D09C3 monoclonal antibody, which is in Phase I clinical trials for relapsed/refractory B-cell lymphomas. However, RGB-286638, a broad-spectrum cell cycle kinase inhibitor, is expected to enter the clinic within the next six months. 

Things are looking pretty dicey at GPC Biotech.

Until next time….

Good Luck and Good Job Hunting!!!!!!!!!

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Astra Zeneca and Sanofi-Aventis announced job cuts today that will take place in the UK and Germany.

AstraZeneca says it plans to cut more than 300 jobs at its research and development hub at Alderley Park near Wilmslow England, 60 more than unions had feared.

The company, one of the biggest employers in Cheshire, said last week that it was examining its global R&D structure, prompting trade unions to claim that 244 jobs were likely to go at Alderley Park - its largest site for research - which employs more than 3,500. The majority of those affected at Alderley Park work on R&D into respiratory conditions, while there will be a smaller number of job losses from the cardio-vascular team.

Sanofi Aventis plans to eliminate 380 sales and marketing jobs in Germany, one-fifth of the total, because of difficult market conditions, a company spokesperson said. Sanofi Aventis currently employs 1,900 sales and marketing personnel in Germany. The company has 10,000 employees in the country.

The cuts will be made through a voluntary departure plan and retirements, the spokesperson said, citing difficulties in obtaining reimbursements, competition from generic drugs, and falling prices as reasons for the cuts.

The spokesman declined to comment on German press reports which said Sanofi Aventis's sales in Germany fell 8 per cent last year.

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I wanted to follow up my post last week–Part 2: Ask the Recruiter--Job Searching –with a short post about writing cover letters.  As I mentioned in my post last week, the purpose of a cover letter is to summarize your background and skill sets so that a hiring manager (who reads the letter) can quickly determine whether you are qualified for the job for which you applied. In addition to mentioning your background and skill sets, it is vital that cover letters be customized to include buzz words and job qualifications found in the ad that induced you to apply for the job. By showing the hiring manager that you meet all the job requirements and possess the requisite skills listed in the job ad, it makes its easier to determine whether you are qualified for the job. Writing a strong, customized cover letter rather then sending out a form cover letter can make the difference between getting a job interview or not.

Rather then try and describe how to craft a  strong cover letter, I  highly recommend that you take a look at the following cover letter example that came to me by way of the Monster Career Newsletter.  Although most of the articles in the newsletter are geared for Monster users, this is  that provided insight into crafting a winning cover letter.

Please let me know whether you found the article useful or helpful!

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Allergan Inc., the maker of Botox, will