Irrespective of the industry you are in, recruiting executives is always a delicate task that requires a substantial investment of energy, time, and money. While every sector has its own challenges, several factors make the hiring process more challenging for biotech companies.
Most biotech companies’ operations are highly specialized as are the specific work functions within it. Accordingly, it is not advisable to simply poach executives from other industries. Good executives for the biotech industry should possess an in-depth knowledge of the specific sector or field in the biotech industry. Remember that as the biotech industry continues to expand, so does the need for highly-qualified executives, putting more pressure on an already limited pool of candidates.
To recruit the best candidates for top-level positions in the biotech industry, here are a few tips that a biotech executive search firm can apply.
The most important step in biotech executive recruiting is doing research. It is critical to prepare well to find and hire the best executive for any biotech company. Start by crafting a detailed job description that captures the right skills that you are looking for. Instead of using past job description templates, customize them to fit the current needs. Establish the type of candidate who would not only be a perfect match for the position but also for the company, its culture, and the industry in general.
When it comes to recruiting biotech executives, networking can go a long way. Utilize current connections and networks of the existing executives and leaders in the industry. Try to find a few leaders who can suggest fellow leaders or executives who might be more suitable for the position. Leverage social media connections, employee referrals, and personal contacts. In addition, think outside the box and contact other alumnus, board members, an alumnus of the company, relevant stakeholders, and even other executive search firms.
Ensure that you demonstrate the highest level of professionalism during the hiring process. Most executive candidates prefer being contacted via private email addresses, phone numbers, and other private online networks. Most importantly, when contacting any C-level candidate, ensure that you maintain confidentially and try to be as discrete as possible throughout the process.
Go the extra mile
Going the extra mile can make or break your chances of finding the right biotech executive. Considering that the candidates are in high demand and are being approached by a wide range of companies, they have probably been given a lot of offers and heard it all. To stand out from the crowd, your approach should be different.
- Demonstrate how the company is committed to hiring them.
- Ensure that they understand the goals of the biotech company that’s looking for them.
- Find time to meet the prospective executives face to face.
- Show the potential candidates that you truly value getting to know them.
There you have it, some of the critical tips that any biotech executive search firm management looking for the best candidate to fill an executive position in the industry should keep in mind. Actively pursuing the highlighted tips will develop your firm into the ultimate recruiting influencer and that’s what’s expected of a good biotech executive search firm.