With the pandemic, biopharma companies saw a shortage of staff as people were quitting in large numbers. Great companies attract great talent. To be a great company, there are certain steps you can take to ensure top talent stays at your company.
In this article, we will discuss steps biopharma companies can take to attract top talent in the evolving biopharma landscape.
Shorten The Recruitment Process
Tech companies are known for their long interview process which lasts an average of 24.4 days compared to biopharma which is averaging 28.1 days. This extended process can be tiring and time-consuming for the candidates who can end up going for a competitor who follows a faster process.
Be Diverse and Inclusive
Biopharma companies are known to hold fewer female leaders and managers at the top positions. Men fill more than 9 in 10 biopharma CEO positions, leading to the further marginalizing of female talent.
Research proves that diverse workplaces perform better financially and are likely to be more innovative.
Provide Competitive Salary
Apart from providing a healthy workplace environment, one of the best ways to attract and retain talent is through a competitive salary package. Top employees look for companies that value their time and skills. They want benefits and salaries that are at par with their talent. Paid time off, health insurance, retirement benefits, and stock options, are all important factors most top employees consider before joining a company.
Be Flexible About Remote Options
Not everyone in the biopharma space needs to work in a lab or a hospital. Many positions, such as project manager, documentation manager, writers, and proposal manager/analyst, can perform their jobs remotely.
Providing the potential hires and existing employees the flexibility to work remotely will not just attract more talent but also retain it.
Provide Growth Opportunities
Growth opportunities such as mentorship and training are known to improve employee morale and employee retention at workplaces. Biopharma is a growing industry where leaders and employees need to stay on top of trends. Encouraging employees to take training sessions and assigning mentors to them can go a long way in building a productive workplace.
There may be a shortage of staff in the biopharma sector, but with the right approach, you can attract and retain top talent for your company. Seek help from search consultants who specialize in finding the best candidates in the biopharma, pharmaceutical, CRO, and medical device industries.