Pharma, life sciences, and medical devices companies are facing significant challenges at a time when talent shortages are greater than ever. At the same time, the arrival of countless new remote opportunities for work is prompting several talented professionals to leave their existing roles and look for opportunities elsewhere.
To survive, business leaders and hiring managers need to ensure they have a strategy in place to continue delivering talent into their team when they need it most. A talent pipeline created with the assistance of a specialist recruiter in your industry could be the key to staying ahead of the competition.
What is a Talent Pipeline?
A talent pipeline is a carefully curated pool of qualified candidates for your company. Your pipeline could include sales specialists, human resources experts, medical representatives, and application specialists.
Whenever someone leaves your team or you discover a need for new talent, you can turn to your talent pipeline to find people ready and waiting to fill that gap.
With a well-constructed talent pipeline, companies in the pharma and medical industries can significantly reduce their time to hire. This is crucial when you consider around 70% of companies take anywhere up to 4 months to process a new hire.
Talent pipelines also help you to:
- Hire better candidates by choosing the exact talent you need.
- Improve candidate experience with a fast and efficient approach to hiring.
- Reduce productivity drops and motivation issues in your team during turnover.
3 Drivers to Consider When Building Your Talent Pipeline
To build a successful talent pipeline, companies need to ensure they’re taking the right factors into consideration. The best talent pipelines aren’t just filled with people who have a random assortment of skills. Instead, these assets should have the perfect selection of talented professionals you need to address challenges both now and in the future.
1. Your Current Capabilities and Future Requirements
First, you’ll need a clear view of the current employees you’re trying to retain and the skills they have to offer. Who are your most important staff members, and what kind of skills do they have? Do you need to keep people in your talent pipeline with similar skills, so you can fill the gap if your existing talent decides to leave?
Look at the gaps in your current talent pool too. Are there any areas where you need to consider looking into new hires? Perhaps you need more tech-savvy professionals to come into your team to help with the adoption of new technology in your industry?
- The talent you have now and the skills you can’t afford to lose.
- The gaps in your talent pool and how you can fill them with new hires.
- Your future requirements and how your business might change in the future.
2. Attracting the Best Candidates
Once you have an idea of your current talent pool and how you hope to evolve your company now and in the years ahead, you can begin to invest in attracting the right candidates. Crucially, a good talent pipeline shouldn’t just include passive employees in the current market.
Working with a specialist recruiter will be crucial here, as your recruitment team will help you to find ways of improving your appeal to both active and passive candidates. For instance, a recruitment team can give you tips on how to develop your employer brand, so you’re more appealing to talent. This might include posting blogs online or using your team members as advocates for your brand.
Your recruiter will also search for potential talent in a host of different environments, from professional groups to students who recently received their qualifications.
3. Maintaining your Talent Pool
Finally, a talent pipeline isn’t a set-it-and-forget-it strategy for recruitment success. Talent pipelines don’t fill themselves. As the marketplace continues to evolve and time passes, you might lose certain people in your pipeline who move on to new opportunities.
Actively maintaining your talent pool by regularly engaging with your potential candidates and keeping them aware of new opportunities is crucial. Your recruitment team will be able to help with this, ensuring your talent pipeline remains topped up with fresh talent as often as possible.
Recruitment professionals can also show you how to engage with your talent pool with things like regular newsletters or other forms of communication. Maintaining your talent pool ensures you can continue strengthening your relationships with the people who may form important parts of your team in the years to come.
A professional recruitment team with experience in the Pharma, Medical Devices, and Life Sciences environments is crucial to building a successful talent pipeline. Your professional recruitment agency will help with everything from sourcing crucial talent to helping you build a compelling employer brand.
Kinetic has been working with Pharma and medical devices companies for over 10 years, focusing on the UAE landscape. Contact us today at (+971 (0)4 442 0921) or over email!
How Kinetic Can Help
Kinetic sources professionals locally and internationally for leading multinational, regional and local Pharmaceutical and Medical Devices companies, including Consumer Healthcare organisations.
If you need help sourcing the best candidates for your pharmaceutical or medical device organisation who will help drive your business forward this year, contact us today.