3 Ways the Biotech Industry Offers Work-Life Balance
What factors do you think affect burnout? Do you think some industries are more prone to burnout than others? Ranstad U.S. performed research on work-life balance and burnout in different industries. In their survey of 2,000 professionals, they isolated the key things that lead to burnout at work: the pressure to be “always on” and check work emails at night and/or on weekends, your boss not appreciating what you do, a lack of staff to do the work, the pressure to get more done than is possible in a day, inadequate pay and benefits, and a lack of work-life balance.
Ranstad dove deeper and applied those criteria to various industries and found out the top six areas where stressors most negatively impacted the workforce:
1. Social Work
2. Emergency Response
4. Business Development & Sales
Honorable mentions of high stress industries were law and public accounting. It was also noted that working as a senior manager or leader in one of those industries further increased the levels of stress. Noticeably absent was the biotech industry. Here are three ways biotech offers work-life balance!
More Established Companies
While there has been an influx of biotech startups over the last decade, many biotech organizations tend to be very established. It can take a lot of capital to maintain an operation with the goal of combining biology and technology to develop drugs and other products to treat medical conditions. Being employed by an established company has many benefits including higher pay (than industry average) and more comprehensive benefits. A lot of professionals have an easier time reconciling tight deadlines and increased stress when they feel as though they are adequately compensated. Notable organizations also tend to have a certain level of name recognition, which can be viewed as an enhancement to career path or resume.
Usually Appropriately Staffed
As an industry, being in biotech requires that companies have a high level of specialization based on the focus of their products and therapies. Generally, biotech organizations will employ the right people with different expertise out of necessity. Being appropriately staffed tends to lead to lower levels of stress because there are less instances of people being forced to do multiple jobs (which they may or may not be qualified for). Having the right people in the right positions also allows organizations to execute on programs and initiatives faster, which can help generate more revenue with lower costs. In many cases, this leads to decreased levels of stress for employees and management.
Offering Work from Home Opportunities
A lot of biotech organizations offer work from home opportunities, which can support improved work-life balance. Even if remote working capabilities are only allowed a few days per week or month, the flexibility can reduce stress because employees don’t have to worry about being negatively affected by medical emergencies, childcare issues, or urgent family needs. The ability to work from home is also a major benefit during uncertain times, such as the current pandemic. Unfortunately, many industries or essential job functions don’t have the option to work remotely which can cause increased stress.
Many companies in the biotech industry can promote more aspects of work-life balance as opposed to other, high stress industries as determined by Ranstad. The presence of more established organizations, being appropriately staffed, and offering work from home opportunities can help biotech employees avoid burnout. In addition, many biotech companies usually utilize technology well to reduce redundant or repetitive tasks employees have to complete. What is a benefit your biotech company offers that supports your personal work-life balance?
Porschia Parker is a Certified Coach, Professional Resume Writer, and Founder of Fly High Coaching. (https://www.fly-highcoaching.com) She empowers ambitious professionals and motivated executives to add $10K on average to their salaries.