The life science and healthcare industry are under pressure as the
emphasis is shifting from a manufacturing export model to domestic demand. The
medical and health sector is one of our most active sectors. The industry is
expected to witness tougher regulations and increased government involvement
and so hiring a life science executive search firm in China is very important.
The advent of bio pharmaceuticals is radically transforming the
standard manufacturing process. Failure to attract or retain top talent is
becoming a significant concern among life science companies. With such stiff
competition for talent search, having a retained executive search firm can help
you stay ahead in the industry. In other words, the ability to recruit and
engage the top talent can be the difference between success and failure for a
company.
Here are 4 reasons why life science organizations choose to retained executive search firms in china:
- Saving Time Equals Saving Money
The executive search process typically includes planning and
internal sign-off; listing of potential candidates; qualifying and
shortlisting; interviews and background checks; job offers and salary
negotiation. The entire process takes approximately 8 to 12 weeks with 11 weeks
being the industry average. Having a firm on your side can help you save
precious time by making your search more directive and targeted in nature. With
a large database of potential candidates, they can shortlist the most suitable candidates
with maximum efficiency in minimum time making the entire process smooth, quick
and cost-effective.
2.
Expertise
The quality of top talent search is dependent upon a deep
understanding of the role; it’s objectives and significance. With naturally
fewer senior or middle-management roles to fill, the in-house hiring staff
usually lacks adequate experience when it comes to filling these crucial
positions. Lack of experience may lead to long-list overload with hundreds of
potential candidates which can lead to poor-quality shortlist with the wrong
candidates called up for interviews.
Executive search firms have all the expertise in quick
shortlisting and identifying the right fit for the company thus saving you from
a mistake of hiring a misfit in the company.
3.
No Compromise In Terms Of
Resources
Leadership level searches demand exponential effort with more
stakeholders involved and an extended sign-off process. This extra
due-diligence would require the staff to overstretch their working hours. As a
result, the hiring process efficiency can be impacted. With business-critical
hires, you need expertise on tap and that’s where specialist executive search
firms can help deliver value with their industry expertise, extended networks,
and honed processes.
4.
Minimum Risk
The greater the roles’ remit, the higher the stakes involved in
case of a bad hire. Recovering from the blunders of poor leadership can cost an
organization dearly in terms of resources, capital, and reputation, a risk no
discerning life science organization can afford especially in this competitive
market. With such high stakes involved, having a search firm reduces the risk
and guarantees a smooth and hassle-free recruitment process.
“Hire right, because the penalties of hiring wrong are huge” and
so a board of advisory in China is a
must-have for life science industries.
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