Attracting top talent and recruiting for biotech jobs in the current candidate-led market is a challenge. Many organisations are struggling to even find candidates for the opportunities they have available.
There are a variety of reasons for this skills shortage, including;
- The uncertainty of current social and economic environment due to the global Covid-19 pandemic has made existing employment stability more crucial than everto the labour market.
- Salaries in the corporate world have not reacted to the market's candidate shortage.
- Candidates are looking for remote, work-from-home alternatives.
- Because of virtual technologies, companies are hiring and onboarding employees faster than ever before.
Lab tech jobs are particularly hard to find candidates for, due to unique and niche roles for the market. According to a PWC report, over half of biotech CEOs said the most difficult part of their job was recruiting, attracting, and maintaining candidates.
Another obstacle for clients attracting candidates for biotech jobs, is that the pharmaceutical industry in the US, has one of the longest interviewing processes, averaging around 28 days. Many biotech companies miss out on qualified applicants due to slow and lengthy hiring processes.
Candidates have such a wide range of options that they may demand higher salaries, more flexible work schedules, better study help, and a professional development plan. It's not just about the money; it is about the entire package.
The biotech industry and current market may prove challenging to recruit for, but with the right market knowledge and extensive networks, experienced specialist recruitment companies like Oscar can get the cream of the crop to say ‘yes’.
Here are four ways organisations can attract top-talent in a candidate-driven market:
- First impressions count: Most candidates need to have a good impression of a company before submitting their resume. The trick is to make sure you organization is able to interact with them by utilizing a range of marketing techniques. Vamp up your employer branding, use creative ways to attract candidates and clients, and stay on trend with relevant topics in biotech.
- Maintain communication: It's important to keep continuous contact throughout the hiring process. Keeping all parties informed is critical, whether it's to keep the candidate up-to-date on the progress of the process or to provide honest feedback.
- Think about the whole package: As already mentioned, candidates don't just care about the salary being offered. Many factors are considered. It is important for employees to believe they have a future in which they may see themselves as contributing to a successful company. Make sure to sell the organisation, the culture, the benefits etc. as well as the opportunity.
- Act quickly: If you see a fantastic candidate who might be a good fit, schedule the interview as soon as you get the resume. Make your offer as soon as possible, and make sure you have a robust onboarding strategy in place.
Looking for biotech jobs? Contact our amazing recruiter Curtis Bull who will find the best job for you within the industry.