Best Tips to Find the Hidden Talent in the Pharmaceutical Industry
Pharmaceutical Industry is undergoing a phase of turbulence and challenging environment. They are under pressure to find and locate hidden talent as skilled employees are the lifeblood of an organization. Talented and skilled employees are valuable assets to any organization. They are the driving forces of an organization which helps them to scale great profits. Pharma industries are often seen shedding their personnel to maintain profitability. This is so because drug discovery and development take many dedicated years which often plunge the companies into huge staff costs.
But recently there is ever increasing demand for talented labor in the Pharma companies. Companies now look for hidden talents who can develop their products and even come up with innovative ones. This surge in the demand is making it harder for Pharmaceutical Recruitment Agencies and online platforms to find high-quality staff.
In this tight labor market, BrightOwl provides you with the following tips to be kept in mind while finding quality employees.
Build a brand value
For hiring skilled staff, you should build a good brand image as well. Apart from the external impressions, the internal atmosphere of the company should also be your priority. Employees should be given proper financial perks, good internal training, and healthy working environment.
For attracting quality staff Pharmaceutical recruitment agencies recommends that employees should be given opportunities for career growth within an organization. As per studies conducted by LinkedIn, Companies that have a strong brand image are able to hire skilled employees at two times lower cost as compared to companies that have a weak brand image.
Offer good compensation packages
Generally, Pharmaceutical Industries are the ones that offer the most attractive compensation and benefits packages. For attracting skilled workers, good pay and perks are very crucial. Hidden talents or passive candidates which are not actively looking for jobs but would leave their company on an enticing offer by a competing organization need to be retained as well.
Develop Employee Value Propositions
Pharmaceutical companies must develop compelling Employee Value Propositions or EVP’s. They portray how potential employees perceive the value or benefits they will gain by working in an organization through 5 attributes which are opportunities, people, organization, work, and rewards.
Authentic and strong EVP’s attract significant talent and boost employee engagement. As per Pharmaceutical recruitment agencies, companies that effectively deliver on their EVP’s can decrease annual employee turnover by just 70% and increase new hire commitment by nearly 30%.
Flexible working schedule
Pharmaceutical Industry should adapt to flexible working hours. Employees no longer want to be confined to their working spaces from 9 to 6. Potential employees look for remote working arrangements when they approach Pharmaceutical recruitment agencies. Company Executives who allow their workers to work remotely are able to retain their talented personnel.
Develop a strategic workforce planning process
SWP is an alignment of the employees across an organization to its long-term commercial strategy. Basically, a strategic workforce planning process ensures that the right people are in the right place at the right time. An effective SWP helps companies to chalk out the skill set they require and when they will need them. This also helps companies to redeploy staff instead of firing them, thus saving huge labor turnover costs.
Make use of online mediums
It is observed that passive candidates do not actively take part in the recruitment process. They basically post their resumes on social and online mediums like LinkedIn, and Twitter. Their contact details can be found at various online associations (such as BrightOwl), social media platforms, and career centers which cater to life sciences field. BrightOwl is a Pharmaceutical recruitment platform which is the first in life science and biotechnology jobs. It helps the companies to find talented professionals and matches experts with required jobs.
Use an external recruitment partner
By hiring an external recruitment partner like the Pharmaceutical recruitment agencies, you can effectively locate hidden talents which save up your high selection cost. These agencies have a wider network as compared to in-house recruitment staff and can find suitable candidates for the vacant positions. Pharmaceutical recruitment platforms like BrightOwl even tap talent working for the competitors.
Get proactive about the recruitment process
In today’s dynamic environment, conventional recruitment process does not deliver the best talent to your company. The process is far too linear and reactive in nature. Hence Pharmaceutical companies now are becoming proactive in their recruitment approach. The executives often attend seminars, meet with industry experts, university graduates, and potential employees on a regular basis.
This helps them to have a pool of talent to engage with when a vacancy arises in their companies. Internships and short-term placements for life-science students are a great way to develop insights about the future talent of the industry and unlock hidden gems. You can also monitor the trends and moves of your competitors to stay ahead of him.
The need to find talented personnel is an ongoing process, especially in the Pharmaceutical Industry. They rely on research, product development and continual innovation which push them to look for talented employees on regular basis.
Last modified: October 30, 2018