Should You Move to a New Medtech Company This Year?

In today's medtech industry, committing to spending your entire career with one specific company doesn't necessarily guarantee success. Even if your current employer has no plans to downsize or eliminate your role soon, staying put could be the wrong decision. 

With skill shortages on the rise, candidates in the medtech industry have more freedom to choose where they want to work than ever before. The decision to switch to a new company could help you find a workplace with a better culture, more flexibility, and more development opportunities than you can access today.

You could improve your earning potential by moving to a new employer. According to one report, while staying with the same employer in a high-growth industry could earn you a 5.9% annual raise, jumping to another company could earn you raises of 9% or more.

Of course, that doesn't mean that switching companies is always the right decision. In this article, we'll guide you through the steps you can take to decide whether now is the right time for you to take a chance and explore new career avenues. 

Market Analysis: The Job Market in 2025

If you're considering moving to a new role in 2025, the good news is that you're likely making this decision at a good time. The medtech job market is heavily candidate-driven right now. Not only are employers actively investing in candidates with new skills to help them navigate technological changes and increasing competition – but they're willing to pay more for talent, too.

According to the Financial Times, in the UK companies invest more in talent acquisition, learning and development, and overall recruitment despite economic downturns. Plus, the rise of remote and hybrid working opportunities means that you could find that you can apply for a more diverse range of roles than ever before – exploring opportunities with companies all over the world.

However, there are still challenges for medtech candidates to navigate. Rising opportunities for remote workers mean more jobs are available, but more people compete for them. Plus, while demand for skilled candidates is high, the skills companies are prioritising are changing. You may, therefore, need to invest more heavily in learning and development to prepare for evolving roles. 

Is it Time for a Career Move? Making the Right Choice 

Deciding whether to stay with your current medtech employer or move to a new company is a significant step. You shouldn't just be considering a move because you believe you can access a higher salary or a more impressive job title. You should decide based on your overall career goals, market understanding, and priorities. 

Here are three key steps to prepare yourself to make the right choice.

Step 1: Assessing Your Current Situation

Start by reflecting on your current medtech company and the relationship you have with your workplace. How connected do you feel with the values and missions of your current employer? Do you have a true sense of purpose in your role, and are you fulfilled by what you do?

How much progress are you making towards your specific goals with this company? If you want to move into a leadership position five years from now, will your current employer deliver the development plans and learning experiences to help you get there? Does the organisation have a succession planning strategy in place?

Ask yourself what you like and dislike about the current company you're working with. Do you love the company culture but don't have enough flexibility in your role or schedule? Are you being adequately compensated for your work and skills? If unsure, use salary benchmarking to compare your current remuneration with what's available in the medtech market. 

Lasting, look at your current skills. Are you using them effectively in your role? Do you have skills that could be easily transferred to other positions? 

Step 2: Identifying Your Priorities

Knowing what you want from your medtech career is crucial to determining whether a move to a new company is the right decision. A good place to start is with salary expectations. 

Although you likely want more from your next role than a good salary, a career move could be a good choice if you're currently being paid less than what you're worth and your employer isn't willing to negotiate a raise. According to Forbes, employees who stay in companies for longer than two years can sometimes be paid 50% less. 

Beyond the desire for a better salary, ask yourself what will motivate you to move to another company. Are you seeking new opportunities to learn, be challenged, and expand your skills with mentorship programs and training strategies? Do you want to experiment with the latest technologies and processes unavailable in your current workplace?

Are you looking for a better work-life balance – more opportunities for remote and flexible work or a more significant focus from your company on wellbeing? Is a good cultural fit important to you? Maybe you want to work for a company emphasising cross-functional collaboration, diversity and inclusion, or sustainability. 

Step 3: Examining the Potential for Change

Next, consider whether it's the right time for a move. Start by evaluating the job market in your sector. Is it expanding or contracting? Industries experiencing growth often offer more opportunities and stability under their employ. If your industry is in a downturn or many companies are "downsizing", this might indicate it's not a good time to search for a role. 

Ask yourself how stable your current job is, too. Suppose your organisation is shifting its focus, and you're worried about the longevity of your role. In that case, it might be time to start considering alternatives, even if you're mostly happy with where you currently work.

If you know your current job is stable but unsure whether there are many opportunities for someone with your skills, ask yourself if you're financially resilient enough to manage a transition. Finding another company you want to move to can take time, so it's worth ensuring you have a financial buffer to handle any gaps. 

Finally, consider whether you have the skills you need to move into the type of role you want. Conduct a skills gap analysis and ask yourself whether you need to invest in learning and development before considering switching career paths. 

Moving to a New Company: Preparing Your Action Plan

After examining all the factors above, if you decide that moving to a new medtech company is the right choice, developing a structured action plan will improve your chances of success. Here's how to ensure you're ready to make the transition.

Conduct a Skills Gap Analysis

Start by evaluating the skills required for the medtech roles you're targeting. Review job descriptions, industry standards, and feedback from your network to identify gaps in your expertise. Use online resources, in-person classes, workshops, and mentorship programs to fill these gaps. Upskilling demonstrates initiative and can give you more opportunities to choose from.

Activate your Network

Your professional network is one of your most valuable assets. Inform trusted medtech contacts about your career goals and ask for advice or referrals. Attend industry events, webinars, and workshops to connect with new professionals in your field. Engage actively on LinkedIn by sharing insights, commenting on posts, and participating in relevant groups. Even consider connecting with a medtech recruitment company. 

Update your CV

Before applying to new roles, ensure your CV is up to date. They should highlight the most relevant skills and credentials for your desired roles. Remember to consider your online presence and profiles, too. Updating your LinkedIn profile, for instance, can make attracting the attention of medtech recruiters and employers easier. 

Develop an Application and Interview Strategy

Define a clear application plan to avoid wasting time on irrelevant opportunities. Research companies that align with your values, interests, and career goals. Tailor each application to the specific role and company, ensuring your cover letter meets their needs. Make sure you're prepared for success by working on your interviewing skills. Practice responses to common medtech questions and consider conducting mock interviews with a friend. 

Prepare to Negotiate

When you receive an offer, approach negotiation with confidence. Research typical salaries for the role using tools like Glassdoor or industry reports to establish your value. When considering the total package, factor in benefits like flexible working, bonuses, and professional development opportunities. Make sure you're ready to get the offer you deserve. 

Is It Time for a Fresh Start in your Medtech Career?

Deciding to move to a new medtech company can be daunting, but it can also be the best way to take the next step towards your long-term career goals. Carefully assessing your current situation, the job market, and priorities will help you decide if now is the right time for a change.

If you're ready to make the switch, use the tips above to prepare for the transition, and remember to leverage the resources available to you. For instance, working with a recruitment company can help streamline your migration to a new company and help you access the opportunities you seek. 

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At Advance Recruitment, we have been helping firms with their talent acquisition, and medical sales job seekers find their ideal roles for over 25 years. We work with many of the top companies in medical device and medical sales including Ambu, Arthrex, Integra and Laborie amongst many others. We have long standing relationships with these companies, and know what qualities they are looking for when recruiting a medical sales rep.

if you want to find out how we can help, call us on 0161 969 9700 or contact us here.