There’s an ongoing crisis in the biopharma field. Talented jobseekers have the upper hand, which means they can work virtually anywhere they choose. Though many biopharma companies try to negotiate using compensation packages, there’s more than compensation at play. In fact, solid biopharma recruiting strategies are one of the most important ways to attract and retain Biotech recruiters.
When biopharma companies search for new talent, they are often seeking candidates with extensive experience. Experience in the field can be important, but in these highly specific fields, most experienced professionals are already employed, and they are perfectly happy in their current roles. Today’s biopharma recruiting still focuses on experience to a degree, but with technology changing at lightning speed, more recruiters look for talent who possess a different set of skills. A fresh graduate with critical thinking and problem solving skills can often bring more to your company than someone who has 25 years of experience.
In biopharma, innovation is everything. Experienced employees can certainly bring innovation to the table, but more often than not, it’s the person who graduated with their master’s degree just a year ago who inevitably starts the ball rolling on the next big breakthrough. Experience is important, but it isn’t everything. Giving younger professionals a chance and supporting them early in their careers fosters retention in the future.
Salary and benefits are both important to biopharma professionals, but no amount of money can make up for a dreadful work environment. These days, employees want to feel like they are part of something bigger than themselves. They want to feel like their contributions matter and that they are truly changing the world with every hour they spend at work. Along those same lines, not every candidate is the right fit for every culture. Today’s biopharma recruiters do much more than just match education and experience with the role requirements; they match people to the company’s culture.
The happiest biopharma employees are surprisingly not those who earn above-average salaries or who have exceptional benefits. The happiest employees are those who feel they are recognized for their contributions. While biopharma recruiters can work hard to match people and positions, it is ultimately up to the company itself to develop and maintain a work culture conducive to employee retention and organizational success.
Incredible biotechnology advancements happen every day, and more often than not, those advancements start with employees who are excited for the future of their careers and happy with their work environments. Experience is important, and a structured work environment matters, but focusing too heavily on either of these can hinder performance and adversely impact retention.
