Putting together a top-performing team in the pharmaceutical industry is more complex than ever. Not only must pharmaceutical leaders develop innovative business models to meet the needs of a broader, more fragmented market, but they also need to recruit talent with a wider range of skills. These skills range from data analytics, customer segmentation, and even social media.
It isn’t just pharmaceuticals that are having to work hard to attract top talent. A recent PwC study found that over 80% of CEOs are trying to find talent with wider skill sets. Careful preparation is essential, whether you enlist the help of a pharmaceutical recruiter or not. Here are some guidelines for developing a recruiting checklist if you’re a pharmaceuticals hiring manager.
Create the Job Description Based on Performance
Most job descriptions list the skills, certifications, and qualifications a candidate needs to have. Yet, when you define a job based on what you want the person to do, you may attract top talent you wouldn’t have reached otherwise. A person who has all the credentials you list may or may not be able to do what you need. Another candidate with a track record of accomplishments is more likely, even if they lack one or more of the specific skills you would ask for in a traditional job listing.
Articulate Why a Passive Job Seeker Should Be Interested
Most hiring managers recruiting for high level pharmaceutical positions want to reach passive job candidates. They want people who are successfully employed elsewhere, but who may be open to a new opportunity. To attract serious attention from these people, you have to create an employee value proposition. This is a compelling reason why candidates should explore your opportunity. If you can’t come up with a reason, you’re going to have to be willing to make the compensation package more attractive in order to get passive job candidates to pay attention.
Define Your “Opportunity Gap” for Passive Candidates
A simple rule of thumb when you’re trying to grab the interest of passive job seekers is that you have to make your opportunity 30% “better” than their current position. This can be a combination of job stretch (challenging them to do something new), job growth (a position higher on the corporate ladder) and compensation. This is where the expertise of a pharmaceutical recruiter with a strong network can make a real difference. He or she will know what combination of stretch, growth, and compensation is most likely to get noticed.
Attracting the best candidates requires offering opportunities for growth, whether in responsibility or compensation.
If You Don’t Have an Employee Referral Program, Start One
It’s possible that your current employees know someone who would be great for the position, whether it be someone they used to work with, someone they see at technical conferences, or someone they met at an industry convention. An employee referral program that rewards employees for referring someone is likely to generate results. Employee referral programs don’t have to be expensive or complex and they can pay for themselves quickly if top talent is hired.
Measure Candidate Experience to Improve Recruiting Performance
If you want to get better at competing for top talent in the pharmaceutical sector, you need to measure and track what gets results and what doesn’t. Create opportunities for new hires to offer feedback about their recruiting experience. If you put in place an employee referral program, track the number of referrals and the number of hires that result from it. Continue to measure results year after year, because recruiting technology, the talent pool, and your hiring needs will continue to evolve.
Attracting top talent can be a challenging feat in the pharmaceutical industry. Many hiring managers work with specialist recruiters to assist with this goal. If you go this route, choose your recruiter based on their track record, network strength, and fee structure options so you can get the most from your recruiting investment. HirePerfect is ready to discuss your needs as soon as you’re ready to start your candidate search.