There’s no denying that the current trends in life science recruitment mean that there are fewer candidates than ever before, making it hard for companies to recruit the best people. Rather than trying to attract the top talent with the biggest pay check, why not think outside of the box and wow them with stronger motivators. We’re here to tell you exactly what your potential employees are really looking for!
Why Money is No Longer the Key Motivator
As more employees rate the alignment of their values and goals as the most important aspect of choosing a company to work for, the value of money proves to be less important than ever. In fact, as long a person can meet their needs with the salary offer, they are far more likely to take a lower paid job in a company that resonates with them rather than seeking out the top paid opportunities.
What does this mean for life science? Well it’s an exciting opportunity on many levels as you can enjoy building a workforce of people with a shared ethos and similar values, making your company more likely to succeed. The only issue is making sure that the values and mission you set for your company is embodied in everything that you do.
Money Doesn’t Make Your Managers Better
Employing excellent managers has long been considered to be a key part in ensuring that a company works well, but paying them lots doesn’t always mean that they will produce what you are looking for. Most successful managers state that a company that offers a good work life balance, fair working hours and great succession routes is far more attractive than one that puts its emphasis on paying as much as possible.
When you are hiring life science executives, making sure that you are offering the whole package will help you get the best applicants and ensure the longevity of your business doesn’t suffer. Take the time to work out what you want and then develop a strategy to find the right people, using recruitment support from the team at Genecoda® to help.
Money Doesn’t Replace Honesty
There is no way to hide the fact that the life science industry is facing many different challenges right now. The great resignation and retirement issues, ongoing reduction in money and a financial crisis that is sweeping through the ranks all make for difficult times and reduced motivation.
Rather than putting on a ‘business as usual’ façade and continuing to offer highly paid roles to get the candidates you want, opting for a more honest approach is far more likely to reap the best rewards. Share the realities you are facing with candidates and find out how they can help your company to power though until the tough times end. By offering this type of honesty, you are not just being realistic with candidates and saving money but you are also offering them the opportunity to help solve the problem – giving them pride in their work and the outcomes they produce.
Find the Best Solutions with Our Help
If you are ready to change the way you approach your hiring practices then the team at Genecoda® are here to help. We have extensive experience in helping executive candidates to find roles they want and can share their insight in order to help your company attract the right people. Get in touch with us today – we can’t wait to help!