Author: Claire Jarvis
The 2022 biotech job market is set to continue the previous years’ trends of great opportunity combined with great upheaval. Qualified job candidates are hard to find, and employment turnover remains high. This has led to an increased need in the biotech job market for contingency and short-term recruiting solutions.
Benefits of Short-Term Hiring
Short-term (also called temporary) recruiting is used to help companies cope with seasonal or temporary business demands such as the run-up to a product launch, or start of a clinical trial. As biotechs grow from start-ups to mid-sized organizations, temporary recruiting smoothes the transition period, allowing permanent hiring to continue at a slower pace in the background.
IT and large healthcare organizations have a particular need for temporary workers, and temporary hires are often used to fill admin roles. However, pharma companies use and benefit from temporary technical hires or 6 to 12 month contracts.
The other advantages of short-term hiring is it brings in fresh and diverse talent into the company quickly. Short-term workers with recent experience at multiple companies can provide useful insights that improve best practices and drive innovation.
Lastly, since temporary workers draw lower salaries with fewer benefits, there is a significant cost benefit to their hire.
Temporary or temp-to-hire?
Although the terms sound similar, “temporary” and “temp-to-hire” are two recruiting approaches to fulfill distinct strategic needs.
Temporary recruiting is solely concerned with meeting the company’s short-term business demands. Temp-to-hire or temp-to-permanent recruiting is a way to trial job candidates, who are hired with the expectation that their temporary position may be converted into permanent employment with satisfactory performance. The temp-to-hire approach is more cost effective and carries a lower risk of liability than a probationary period prefixed to permanent employment. It may also allow the company greater exposure to candidates under consideration.
Like short-term recruiting, biotech companies are seeing an increase in temp-to-hire roles as they deal with a fluctuating workforce and high turnover rates, and the demand can only continue to grow.
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