Getting the Best Without Giving the Most – How to Recruit Well During a Financial Crisis

Recruitment is an ongoing issue for the majority of life science companies across the world, with a declining amount of qualified people for the glut of jobs that are available. In the US, the financial crisis that has hit the life science industry also threatens to make recruitment even harder than it is! Rather than succumbing to the problems, take a look at our advice and learn how to recruit well even when finances are not as available as they once were!  

1 – Put Your Trust in a Selected Recruiter 

One way that many companies have avoided the staffing crisis is by signing up with multiple recruitment firms, trying to access the biggest talent pool possible. However, to reduce your expenditure during this time it makes sense to stick to just one trusted recruiter.  

When you focus on your relationship with just one recruiter, you are more likely to gain access to their best candidates who will be well prepared and ready to work for you. Plus, when you are trusting one recruitment company, they are more likely to work harder for you, reducing the time you need to spend focusing on jobs. 

2 – Advertise Better for Less 

Another key area of expense that can be lowered when it comes to recruiting is the cost of advertising positions. Rather than sticking to advertising in the same way you always have, now is a great time to look for other ways to attract the people you need. 

One of the best ways to attract people is through targeted advertising on social media, all you need to do is upload your advert, define your demographic and set your budget before letting the platform’s algorithm target the right people with ease. You should then see greater levels of candidate applications for the posts you have available. 

3 – Use Technology 

Time spent shortlisting and sifting applications costs a company a lot in terms of man hours that could be spent on other projects. Rather than organising everything, why not make use of one of the multiple technology packages to help you find the right candidate and reduce the cost of recruiting? 

 For getting candidates to complete screening tests and applications that can complete the initial resume check, there are plenty of options to choose from. To get the best value for money, ask tech companies to provide you with trial access to their tech and work out which one saves you cash and which ones are best left on the shelf.  

4 – Make Your Company Competitive 

Financial crisis often leaves companies feeling vulnerable and unable to perform to their best. Instead of following the crowd, take the opportunity to position yourself as a company with a competitive edge and enjoy the impact it has on your recruitment issues. 

Being able to pitch yourself as a leader in times of crisis makes you more attractive to potential employees, giving them confidence that their jobs will be secure and trusting that your company is one that will weather the storm successfully. Now is the time to show off what’s great about your business, rather than shying away from the limelight. 

Put Your Trust in Genecoda® 

If you are ready to recruit the best candidates without spending more than your budget allows then let Genecoda® help. We work hard to find the best recruits for your life science company so that you can focus your time and energy on getting the outcomes you are paid to achieve. Connect with us today and find out more about how we can help. 

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