It can be unexpectedly difficult to fill an open position. Naturally, you’re looking to hire someone with an excellent set of both hard and soft skills, experience, and the right mindset for the role – but how much time are you willing to devote to the process?
In an ideal world, you’d find the perfect hire immediately, and suffer next to no financial loss. In reality, the search process takes time – and money. Luckily, there are ways to quickly fill a vacancy without compromising on quality of talent.
Nuts and bolts: The cost of keeping a position open.
We all know that vacant positions rack up a hefty bill extremely fast. But what exactly is on the receipt? Here’s the breakdown:
The biggest factor, unsurprisingly, is lost productivity. When an important role is left unfilled, the corresponding work is completed more slowly and less expertly than it should – or in some cases, is not completed at all. Many companies with a vacant role will turn to a temp agency to bridge the gap – but naturally, an interim employee is unlikely to be as efficient as a fully trained team member. Other companies may opt to pay existing employees overtime to compensate, which hampers productivity for the same reason.
Depending on your strategy, job boards can rack up significant costs as well. Generally, the larger ones charge a few hundred per job posting – so with a few different sites on the go, you’re already out over $1000. If you post on specialized boards in addition, you’re looking at $2000 or more. Not a huge expense in the grand scheme of things – but to reap the full benefits of job sites, you’ll need a carefully crafted candidate selection process.
The indirect effects of a job vacancy can add yet another layer of expenses. Hard to measure and easy to overlook, these “soft costs” are still very real risks of leaving a job vacant for too long. These can include long-term harm to a company’s reputation and resulting growth, deflated morale of current employees, and negative impacts to customer experience. In the biotech world, where process-driven workflow is everything, the effect on overall productivity can be especially devastating.
The exact amount lost per day for a given open position is highly variable, of course – but it’s almost always in the hundreds. Given this financial toll, it’s natural to feel like you have to rush to fill an empty role. But get too hasty with the process, and you risk missing out on the right matches. In this situation, partnering with a recruiting service can streamline the process.
The best talent in the shortest time
To secure a hire you trust in a reasonable timeframe, you need to act quickly – and make sure you’re maximizing all the strategies at your disposal. To start, think LinkedIn, social media, and your own professional network. And never forget the power of word-of-mouth: existing employees have their own contacts that they can call upon to spread the word about the open position.
All of the above steps are made even smoother with the use of recruitment services. A recruiter can help you tap into hidden pockets of talent in your existing circle, while providing their own vast network of candidates. From there, they will come up with a custom-made, cream-of-the-crop shortlist for you to consider. When they help you fill a vital position quickly and effectively, the up-front costs of their services can pay off in spades.
Bottom line: it pays to act fast!
Keeping a position open is expensive – more so than many people realize. To cut back on costs, consider fast-tracking the process by bringing a recruiter on board your talent scouting ship. Whether you’re a small start-up trying to stay afloat or a larger company looking to maximize revenue, a recruiter can speed up the sourcing and hiring processes and land you with better-matched talent than you’d otherwise find.
If you’re looking to fill a role with a highly qualified candidate, Sci.bio’s recruitment services can help. We know that no two clients are the same, so we provide customized recruiting support that adapts to a given client’s structure and needs, and have placed successful candidates with a variety of companies. Please contact us to connect with a recruiter and discuss your needs, and follow us on LinkedIn to stay up to date.
Despite being in a candidate’s market currently, it remains difficult for many companies to attract top candidates and successfully fill advertised roles. If your biotech firm is struggling to hire new talent, there are a few probable causes worth addressing.
Why You Have Trouble Attracting Candidates
The salary isn’t listed in the job posting or website. With rapid rises in the cost of living, candidates are demanding higher salaries to account for the change, and often want to know that this is the case before applying. Consider increasing your transparency with salary ranges for posted positions. However, if you are listing a salary range, ensure that you aren’t offering below-market rates.
An unclear job posting. Perhaps the job description is too generic, it’s not clear what experience level you’re hiring for, or the job responsibilities aren’t clearly spelled out. Wherever the confusion may lie, you will likely end up attracting the wrong candidates unless your posting is straightforward.
Bad company reviews or interview experiences are posted on Glassdoor. Candidates check review sites like Glassdoor to learn about company culture and to check for red flags before applying to jobs. Keep an eye on these sites for bad reviews that need addressing.
You don’t offer remote or flexible working. Even when candidates are willing to come into the office, they don’t want to feel as though attendance is mandatory, or give up flexible working practices they may have enjoyed during recent years. Consider offering a hybrid model, where employees can strike a balance between in-person and remote work.
The job application process requires more than one click. Candidates are often used to applying for jobs via LinkedIn Easy Apply – which requires no more than a pre-uploaded resume and hitting the ‘apply’ button. They certainly don’t want to copy information from their resume into a job application form, or click through multi-page application portals at the start of the process. Consider whether you need this much information about all the candidates during the screening stage, and whether there may be a more modern application software you could implement.
Your company website is confusing to navigate or outdated. Candidates looking for a job will often apply to five or more positions in a single session – if they can’t immediately find Careers information on your website, they may well stop looking and move on to the next company. Make navigating your website and subsequent application process streamlined and straightforward for candidates.
What happens when you can’t fill a job vacancy?
Most of the issues outlined above can be fixed, though some may take time and work to rectify. Other difficulties, such as company location or need for a technical expert with a specialized skill set, are harder to control. In both of these scenarios, consider short-term sourcing options to help your company meet its business needs.
If you’re looking to fill a role with a highly qualified candidate, Sci.bio’s recruitment services can help. We know that no two clients are the same, so we provide customized recruiting support that adapts to a given client’s structure and needs, and have placed successful candidates with a variety of companies. Please contact us to connect with a recruiter and discuss your needs, and follow us on LinkedIn to stay up to date.
Let’s discuss job hopping. As a recent grad or job-seeker, you may have been spending some time charting out potential career paths. If that’s the case, you may have wondered: how long should you plan to stay at each of your positions?
On the one hand, you probably want to upskill in your field, experiment with what you like, and ascend as quickly as possible in your career. On the other hand, you may crave a sense of stability at work, long-term office friendships with coworkers, and a track record of loyalty to flex to your next employer.
As with many such quandaries, there’s no one-size-fits-all answer. When it comes to semi-regularly switching employers, or declining to do so, everyone has their own style. A combo of personality, risk tolerance, and career goals will determine yours.
What is “job hopping” anyway?
Job hopping is the practice of moving from one job to another after a relatively short time – usually, less than two years. It wasn’t always the popular way to do things, but it’s increasingly normal in today’s fast-paced world. Whereas in the past, it wasn’t uncommon for employees to spend decades at the same position, today’s workforce is used to a far higher turnover rate.
If a chronic job hopper plays their cards right, employers will understand the value of their varied work history. In biotech specifically, job hopping is often seen as a net positive. It’s only natural that in such a multi-skilled industry, employees would want to hop around learning as much as they can. Smart employers understand that there are benefits to the practice, and will gladly consider hiring candidates who’ve jumped around a little more.
Shifting gears on the regular: what are the benefits?
Frequently changing up your employment situation may help to fast-track your career. For one thing, you’ll have the chance to learn new skills and to experience multiple different environments. As a frequent position-switcher, you’ll also have the chance to meet many more people – all of whom could help you out down the line.
You’ll also learn the rare skill of adaptability. Employees who have been in the same role for decades are likely to be more set in their ways – but the chronic job-hopper has learned how to quickly adjust to new settings. If you’ve made quick, smooth transitions in the past, employers will realize you’re likely to keep that pattern going.
And finally, a longer-than-average list of former employers can actually boost your profile as a potential hire. Naturally, employers love to know that the talent they hire is widely sought-after. Assuming you’ve been employed pretty consistently over the years, job hopping can highlight just how in demand you really are.
What are the risks?
Though they may have some doubts, many employers will still give job hoppers a shot at an interview. At that point they may ask for some details on previous stints, so some extra preparation may be in order on your end.
Then there’s the risk of giving up a good thing. If you regularly switch up your work situation, you may come to expect something better and better every time – but sometimes, a bird in the hand is a bird worth holding onto. If you score a position that checks 9 out of 10 boxes, consider staying there for longer, instead of defaulting to job-hunt mode at the first sign of imperfection.
If you’re considering job hopping as a career strategy, also consider the kinds of connections you’d like to make. If you’re frequently changing jobs, the size of your network will naturally increase – but on the other hand, its quality may suffer. So if you want to leave a lasting impression on your coworkers, you may have to make a little extra effort.
The takeaway on job hopping
So, should you plan to do some job hopping at some point in your career? If you’ve got stamina for the search, a knack for learning new skills on the regular, and/or an affinity for new environments, it just might be for you. Remember, you can always stop hopping when you feel like settling down a bit more.
Here at Sci.bio, we aim to help facilitate the best matches possible between talent and talent-seekers. We can help you find a position that will help to kickstart your career, and lead to exciting opportunities down the line. Check out our recruiting services for more information.
Corporate culture hasn’t always been at the forefront of hiring processes. Nowadays, though, it can play a huge role. That’s right: corporate culture is all the rage in today’s recruiting world – and for good reason.
Employees are more than their skillset, and companies are more than a list of random requirements. Individuals and groups all have their own unique personalities, and a good match on that level can work wonders for employee satisfaction and productivity.
Exploring and defining your company culture will let you screen for a good cultural fit among job-seekers. Here we’ll outline what corporate culture really is – and how to hire candidates who fit into yours.
The Dimensions of Corporate Culture
What do we mean by “corporate culture”? It’s one part belief, and one part behavior. It’s both what a company stands for, and the decisions made about how it operates. Regardless of the specifics, one thing is consistent across all companies: corporate culture promotes employee happiness, which is great for business.
The culture you foster will depend on both the needs and the limitations of your business. For example, start-ups are known for corporate cultures that stack up as more informal, but less laid-back, than what you’d find at your average corporation. This is a natural by-product of being both small in size and extra-determined in mindset.
According to Investopedia, there are four different styles of corporate culture. Naturally, most work environments will incorporate elements of all four, and outside influences as well – but if you’d like a starting point, figure out which of these styles appeals to you the most:
Adhocracy culture: this cultural style values innovation and risk-taking above all else, and puts less emphasis on perfect organization or adherence to a rulebook.
Clan culture: within this framework, collaboration is paramount. Employees are encouraged to see themselves as part of a team, and actively value the work of every member.
Hierarchy culture: though it’s less up-and-coming, there is a time and place for this more traditional style of company organization. A large company with a complex structure will likely have to adopt at least some aspects of a hierarchical culture to function smoothly.
Market culture: to some extent all corporate cultures revolve around the marketplace. That said, the “market culture” we’re referring to is one that openly and aggressively pursues market targets, rather than focusing on more indirectly profitable projects.
Lay Out your Culture Cards Early
When screening for cultural fit, honesty really is the best policy. You can still frame your company in a positive light, but be open about the aspects of your corporate style that might rub some people the wrong way. Are you an ultra-collaborative, open-concept-style workplace? Maybe you encourage casual dress and even more casual deadlines. Whatever it is, let your interviewees know! This will encourage them, in turn, to open up about some of their own quirks. It’s not about finding the objective “best”, but rather the “best fit” for your company.
Screen for Flexibility
When assessing cultural fit, factor in the possibility that a candidate might naturally thrive in a certain kind of workplace – but not know it yet. How to investigate? Make sure your corporate culture is on display at every stage of the interview process. If they seem game for it, if a little shy at first, chances are they’d quickly feel at home at your company. But if they seem resistant or indifferent, it may be time to consider someone else.
A Critical Success Factor
It’s one of the “softer” qualities employers screen for, and can be overlooked for that reason. But cultural fit is essential – an employee whose personality, values and/or habits don’t align with those of their workplace will feel less satisfied in their job, and may struggle to perform as a result. On the other hand, a good cultural fit will feel inspired to contribute their best work.
Sci.bio recruiters understand how important cultural fit is to the success of a new employee. Check out our recruitment services if you’d like to learn more about what we offer.
Have you ever considered working for a start-up? It’s almost a buzzword nowadays – that’s how much the term “start-up” is tossed around. But what really is a start-up, and why is there so much chatter about working for one? In truth, working for a start-up comes with many exciting opportunities – but like anything else in the working world, it can be a trade-off. As always, the most important thing is discerning if it’s the right fit for you, your career, and where you are in your life.
What is a Start-Up, Anyway?
A start-up is any company that is still getting off the ground – indeed, “starting up”. Around 90% of start-ups are unable to expand past the start-up level, with 10% of these failures occurring within the first year.
Working for a start-up often entails irregular hours, a wide variety of job duties, and a sense of closeness with your team members. You’re expected to show up with a can-do mindset, and to prioritize growing the company above most else. You’re also likely to get interesting development opportunities that may never come your way at a larger company.
Biotech start-ups can be unique in that they allow you to develop a wide range of skills, and build connections to many different pharmaceutical companies. Even if you end up working at a start-up for a shorter stint, you may be able to leverage these skills in an unexpected context later down the line.
Growth Potential When Working for a Start-Up
When you work for a small company, the potential for growth is huge. Should the company succeed, you could profit in a big way. And truthfully, there’s not much that looks better on your resume than having helped catapult a little-known name to success.
But there’s a significant chance your company won’t become the next Facebook – or worse, will have to shut down. So if you do opt to work for a start-up, make sure it’s one that offers great connections, learning opportunities, and chances to prove your skills.
If the business does have to close up shop, you may feel like you’re back at square one. To mitigate this, come up with an action plan for if and when this happens. That way, if it (unfortunately) comes to pass, you won’t feel panicked trying to figure out your next steps.
Company Culture
Joining a start-up may in some ways feel like being vacuum-sucked into the most chaotic, most ambitious group of friends imaginable. Employees tend to be close, and leaders tend to be open to ideas from everyone – as long as it helps the business, it really doesn’t matter what your title is. You may also be asked to do things that don’t fall strictly within your job description – or feel inspired to, because you know exactly what the company needs.
We’re all familiar with the stereotype of the ambitious twenty-something busting their guts in the start-up world. That trope exists for a reason – clearly, said world can be demanding and unpredictable. Of course, you can join a start-up at any age, but if work-life balance is your top priority, the lifestyle may not be the best fit for you.
All that being said, start-up workers often experience higher-than-average job satisfaction. This isn’t surprising – working for a smaller business, you’re far more than just a number. Everyone knows your name and probably at least some of your story. And because the stakes are so high, your contributions are deeply valued.
Is the Start-Up Life for You?
The stress and uncertainty of working for a start-up can be worth it – if you’re willing to shoulder some risk.
Some people feel most comfortable working for a large corporation, where security is high and the path forward is clear. Others may prefer a more unpredictable, chaotic environment with a small but real chance of paying big dividends. Maybe you want something in between – a mid-size company still trying hard to grow, but with an established presence in its field. Different strokes for different folks, as they say!
