Attraction and retention remain challenging for organizations worldwide
Organizations grapple with sourcing talent for major roles at every level
| Location | Average voluntary attrition rate |
|---|---|
| Brazil | 7% |
| Taiwan | 14% |
| United Arab Emirates | 4% |
| United Kingdom | 8% |
| United States | 10% |
Major roles employers plan to hire for in the next 12 months
| Information technology (IT) | Engineering | Sales | |
|---|---|---|---|
| Brazil | 29% | 36% | 63% |
| Taiwan | 25% | 32% | 64% |
| United Arab Emirates | 32% | 48% | 57% |
| United Kingdom | 29% | 37% | 58% |
| United States | 29% | 51% | 57% |
Salary budget increases continued in 2023
Because salary impacts an organization's ability to attract and retain talent, this pattern is expected to continue in 2024, but employers will be cautious about allocating their salary budget.
Employers (60% or more) in every industry worldwide have taken or are considering taking the following measures:
- Compensation review of specific employee populations
- Full compensation review for all employees
- Targeted increases for specific employee populations
- Hire people higher in relevant salary range
Top 3 functions at professional level (P3) with the highest pay across all industries*
| Rank | Brazil | China | United Kingdom | United States |
|---|---|---|---|---|
| 1 | Clinical research site startup | Medical writing | Market access generalist/Multidiscipline | Medical imaging |
| 2 | Clinical research | Platform/Program management | Machine learning | Technology strategy |
| 3 | Clinical quality assurance | Biostatistics | Artificial intelligence (AI) applications | Medical communications/Liaison |
A few skills will receive the highest pay premiums across regions
| Region | Skills | Pay premium (median in percent of base salary) |
|---|---|---|
| Asia Pacific | AI/machine learning frameworks | 15% |
| Europe, Middle East and Africa | AI/machine learning frameworks | 20% |
| Latin America | Cryptography, distributed ledger development, smart contract programing | 15% |
| North America | Cryptography, distributed ledger development, smart contract programing | 15% |
Two percent increase in the number of unique organizations participating in WTW’s 2023 biopharmaceutical and life sciences industry surveys as well as a 2% overall increase in data submissions.
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