When looking to hire senior executives in the biotechnology, pharmaceuticals, and life sciences fields, it’s important to remember that most of the great candidates aren’t hanging out in a database or waiting to be contacted on LinkedIn.
While using your organization’s in-house resources (HR department, hiring managers) may work for less specialized job placements, neither likely have the combination of research skills and the extensive network of professional resources needed to identify and hire top executive talent on time.
Instead of spending a lot of in-house time on an executive hiring search and hoping for the best, many science-based companies are reaching out to executive search firms to optimize the process. Here are some reasons why you may want to consider this strategy for your next high-level hire:
1. A Search is Incredibly Important at the Executive Level
Searches for senior management positions that report to the C-suite are too important not to go out to a retained search firm. Executives at that level can make or break a company. A retained search firm can help mitigate the risk.
2. The Position Requires an Executive with Unique Skills
If you’re seeking someone with very specific knowledge and skills, a search firm can help. The best executive search firms will deliver candidates with the right mix of knowledge, skills, and abilities, along with the requisite cultural fit you need.
3. Your Senior Leadership Team Lacks Diversity
Because women, Black, and Latinx candidates are not well-represented at the senior executive levels – especially at science-based organizations – search firms can help level the playing field by conducting searches that ensure equal opportunity for all candidates.
4. You’ve Just Created the Position
When an organization has a new executive-level role to fill, there can often be a lack of knowledge re: the kind of candidate you need. Search firms that specialize in the functions and sectors that are new to the organization can help fill that knowledge gap and identify the right talent.
5. You Have to Replace an Underperforming Executive While Still in the Role
Lining up a replacement while a senior executive is still on board, can be highly complicated. The last thing you want is for the individual to find out. Search firms offer a much-needed cloak of confidentiality. They can manage a confidential search and recruit candidates without even mentioning the name of the client company.
6. You’ve Exhausted your Personal and Company Networks
If you’ve burned through your network of connections for possible referrals, it’s time to access another network. Executive search consultants are among the most well-networked people in the business and can find the right candidates while you’re working on running your department or business.
Summing it Up
Executive recruiters who understand the biotechnology, pharmaceuticals, and life sciences fields can identify, contact, and engage executive talent beyond the reach of employers who go it alone. Before contracting with a hiring firm, be sure they understand your business, have access to the right talent, and provide communication throughout the process to ensure you’re meeting the best candidates.
Sci.Bio is a leading recruitment and search firm based in Boston. We specialize in finding and hiring the best talent to fill temporary openings, long-term positions, and executive roles in the Biotechnology, Pharmaceuticals, and the Life Sciences industries. We can also help you understand and improve your cost per hire numbers – so visit our website today!