Several years ago there was so much top-tier regulatory talent on the market that companies could take their time making hiring decisions. It truly was an employer’s market. Unfortunately, some companies are still taking too long, losing out on a much harder to recruit talent pool. In fact, recently several companies told us they have only received two or three resumes for a position that’s been open for several weeks or longer.
Coinciding with the changes in the marketplace, bio/pharma has seen a decline in early-stage activity with a substantial increase in Phase III work. This has led to fewer failed Phase III trials, but it has led to an increased regulatory workload. The amount of interaction between regulatory and other parties, such as healthcare providers, has increased as has the actual filing time of a NDA to an estimated 1,921 hours! The competitive aspects of obtaining a first-in-class drug or a priority review voucher are palpable in a regulatory department, even one that is fully staffed. But what about those that aren’t and can’t locate the permanent talent? What about those with budgetary or headcount limitations? Work is spread too thin among overworked people and companies begin to lose a bit of steam.
The easiest way to overcome any one these issues is to opt for regulatory consultants. In a day where people want more work/life balance and remote work is becoming increasingly popular, consulting solutions have never been so simple. Many people opt to enter the consulting arena once they have fulfilled their career goals. The knowledge and talent base is extraordinary and the people are excited and almost anxious to make relevant contributions to new innovative platforms.
At a time when everyone expects instantaneous results, hiring consultants is about as good as it gets. Quick turnaround on talent, no direct payroll costs, very little (if any) training involved, and most important, the ability to focus on the important job at hand.