OTTAWA, September 14, 2015 – BioTalent Canada published a Compensation Guide today outlining the annual salaries and benefits for 32 of the most popular job functions within the Canadian bio-economy. This report is the organization’s first launch of a national review of job descriptions and experience, skills and education required to effectively function in the role.
The ability to attract and retain top talent to drive innovation remains one of the greatest challenges the biotech industry faces. Labour market research indicates bio-economy companies need access to market information to provide competitive compensation packages.
According to Sequencing the Data, BioTalent Canada’s 2013 labour market study, a majority of biotech companies surveyed across Canada stated their greatest business challenges as “access to capital,” followed closely by “access to talent.” Offering competitive compensation improves a company’s access to talent and has direct benefits for the bottom line.
“Companies need to attract and retain top talent in order to move forward,” says Rob Henderson, President and CEO of BioTalent Canada. “When you look at the cost and impact of employee turnover, understanding the market keeps you a step ahead.”
BioTalent Canada, in consultation with its industry association partners set out to generate an effective, accurate compensation report for the biotechnology industry in Canada that is also affordable. With approximately 80% of the biotech sector consisting of small and medium-sized companies, access to affordable compensation data affects the majority of the industry.
The report was sponsored by:
- PEI BioAlliance
- Life Sciences Ontario
- Life Science Association of Manitoba
- LifeSciences BC
For more information on the Compensation Guide, please visit biotalent.ca/CompensationGuide
About BioTalent Canada's Compensation Guide
BioTalent Canada’s Compensation Guide is a national review of the most popular job functions within the Canadian bio-economy. The Compensation Guide consists of job descriptions and experience, the skills and education required to effectively function in the role, and an overview of the salaries and benefits. Data like this is crucial to enterprises in the industry to benchmark their compensation and remain competitive. The Compensation Guide is currently available in English only. For more information please visit biotalent.ca/CompensationGuide.
About BioTalent Canada
BioTalent Canada is the HR partner of Canada’s bio-economy. As an HR expert and national non-profit organization, BioTalent Canada focuses on building partnerships and skills for Canada’s bio-economy to ensure the industry has access to job-ready people. Through projects, research and product development BioTalent Canada connects employers with job seekers, delivers human resource information and skills development tools so the industry can focus on strengthening Canada’s biotech business. For more information please visit biotalent.ca.
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