Finding the right candidates for executive-level positions is high on the list of problems that life science organizations are currently facing. It’s part of a wider shortage of qualified talent and is proving to be one of the biggest problems facing the industry today. A recent survey by Gartner has shown that failing to create the right talent acquisition strategy is one of the biggest reasons that companies are failing to fill vacant executive posts. Rather than being part of the problem, why not improve your executive talent search and buck the trend?
What Has Caused the Talent Conundrum?
The life science industry has experienced significant levels of change over the past three years. The Great Resignation & Retirement to the impact of COVID-19 has left many organizations without the staffing levels required to drive ahead. When you couple these issues with less new talent coming to the market, it’s easy to see why there is a conundrum that needs to be solved.
In addition, recruitment is a lengthy process to go through from job post creation to a new hire’s first day, with many companies needing to find ways to speed up hiring to keep hold of the best candidates. Rather than letting these issues stifle your organization’s success, it’s time to reinvent your hiring systems – starting with your executives!
Three Ways to Improve Your Executive Talent Search
Each of these strategies has been designed to help life science companies get access to the best candidates, ensuring that your organization stays afloat as you work through this period of uncertainty:
- Change Your Location Requirements – if the pandemic taught us anything, it is that the majority of life science roles can be far more flexible than we first thought! From hybrid working to fully remote opportunities, take the time to work out how you can help your new executives get the best work life balance as it will help attract more applicants than office-based roles.
- Offer Genuine Growth Opportunities – many organizations tell their teams that there are opportunities for development but end up only giving these opportunities to a select few. To get, and keep, the best executives, take the time to map out all the opportunities you are able to offer them, ensuring that their personal development is as much of a priority as filling the vacancy. This will ensure that you have executives that are loyal and fulfilled as well as being able to utilize their new skills for the good of your company.
- Share Your Vision – when it comes to hiring, many organizations focus on finding the best candidates but forget to market themselves as a great organization to choose. Taking the time to ensure that your company’s vision and ambitions are clearly defined in all your recruitment literature will help candidates to see if their ambitions align with yours. Executives will be keen to have an impact on the world and it is up to you to show them how working for you will make this happen!
If you need help organizing an effective range of talent search strategies and want help finding the best candidates then GeneCoda® is here for you! Our team is highly motivated and will work hard to find you the best executive candidates in the life science arena. Why don’t you arrange an informal chat with us to find out more about how we can help – call today to get started!