Downturn In Demand For EU Medtech Regulatory Talent Starting To Turn Around
Executive Summary
Against a globally tough environment, recruitment for EU medtech regulatory roles slowed down. Elemed’s Elena Kyria explains what is shaping talent hiring now there are signs of an uptick and how job seekers and recruiters can best position themselves
The EU market for medtech regulatory talent has been reacting to global financial challenges as well as to changing deadlines for compliance with the EU’s Medical Device and IVD Regulations, Elena Kyria, founder and CEO of Elemed recruitment consultancy, told Medtech Insight.
During a recent podcast with us, she spoke with optimism: “If we talk about 2023 in particular, so far we've seen a real slowdown in hiring. We saw a 60% drop in job flow in Q2 compared to Q1.” But already things are changing. “It is July now,” she said, “and we have already seen a turnaround.”
The downward trend reflects a trend across many industries and job roles in response to global financial uncertainties amid political instabilities, but it is certainly not a trend that Kyria expects to see for the rest of the year in the medtech space.
In addition to talking about the current recruitment turnaround, Kyria addresses several critical topics in our podcast. These include: the impact on recruitment of the amending regulations to the EU’s Medical Device and IVD Regulations and the extended deadlines for legacy products that they bring; and the impact of AI on recruitment and on how people are applying for job and being selected.
Quick Guide To Podcast Topics
Below is a list of topics covered along with markers where listeners will find them in our podcast:
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How the overall performance of the big US players is impacting finance and therefore recruitment. 3.00
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The career risks for senior level executives who got huge salary increases when demand was especially high, in the context of the general financial squeeze now. 5.40
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How companies are getting around having to pay huge salaries by training more juniors. 7.51
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Why employees at firms that are deprioritizing medtech regulation for now considering the MDR and IVDR amending regulations may want to move companies. 10.05
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Why the talent shortages that occurred in the 2020s could arise again. 12.28
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US vs EU: Cultural differences that impact hiring. 13.44.
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The role of AI in job trends and in recruitment. 16.08
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How those seeking to change jobs should be getting ahead of the curve when thinking about what they can best offer now that AI can replace certain functions within a job. 17.44
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How the quality of job applications is improving with AI CV writing so that interviewing and psychometric testing are becoming the most critical new measures. 20.58
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Those medtech stakeholders that are recruiting most at present, and what type of job seekers recruitment consultancies like Elemed particularly want to hear from. 22.34