Global Recruiting Trends In 2019

Posted on January 8, 2019March 8, 2019 by Pact & Partners

08 Jan

Global Recruiting Trends In 2019

LinkedIn’s annual global recruiting report for 2018 looked at staffing trends across a wide range of recruiters. The survey solicited responses from almost 9000 recruiters and hiring managers across 39 countries worldwide and looked at issues such as diversity, interview processes, and artificial intelligence (AI).

Here is a summary of the Global Recruiting Trends report findings.

Diversity

Diversity and inclusion were found to be one of the top trends. 82 percent of respondents stated that diversity was a driving force behind their hiring strategy. Key drivers in this area were that companies see workforce diversity as an arbiter of culture and optimized performance. However, 40 percent of companies were still finding it a challenge to locate appropriate candidates and 27 percent found it difficult to retain such candidates once they had hired them.

Interviewing Trends: New Ways to Assess Candidates

Interviewing trends are shifting to accommodate new processes and modern workplace needs. these methods include a focus on soft skills assessment, understanding a candidate’s shortcomings, and mitigating interviewer bias.

Going forward, new tools that will help to streamline the process might include assessments conducted in virtual reality (VR), on-the-job auditions, and meeting outside of the office in more casual locations. The thinking behind these strategies is that it will be more difficult for candidates to overstate their skillsets and that it will be easier for the hiring manager to assess whether they are a good fit for the position.

Data-driven Decision Making

Data is already a key driver throughout the recruiting industry, but going forward, it will become even more important. The study found that almost 40 percent of respondents see data as one of the most important components of the recruiting process.

Currently, only about 65 percent are leveraging data towards reducing attrition, skills assessment, and crafting more attractive offers, but in 2018 and beyond, almost 80 percent say that they will be implementing a data strategy in the hiring process, indicating a significant movement in that direction.

Artificial Intelligence (AI) Will Become Commonplace

AI is penetrating many sectors of industry. From customer service to retail, it is seen as a potential threat to the job market, but in the recruiting sector, it may just be a game-changer. Some hiring managers receive upwards of a hundred resume’s every single day. AI can help them more accurately shortlist for required skill sets and experience, giving recruiters an accurate screening tool that will greatly reduce the time-to-hire and any recruiter bias that may exist.

That said, only 14 percent of hiring managers seem to think that AI threatens their own livelihood. Some of the things that AI simply cannot do include seeing a candidate’s potential and establishing a cultural fit within the organization.

Conclusion

While the LinkedIn report highlights that the recruiting process has become largely transactional, there are trends emerging that elevate the job to a more strategic level, emphasizing the human connection and critical thinking about how to land the right candidates. Going forward, the recruiters who will find the greatest success will be the ones who can leverage new trends and technology through these market changes.

How Employer Branding Can Help Your Recruiting

Posted on November 5, 2018March 8, 2019 by Pact & Partners

05 Nov

How Employer Branding Can Help Your Recruiting

The face you present to the world – your brand image – is an important component of your marketing. In business, it provides a stepping-off point for differentiation, giving your customers and your broader audience something to identify with. No matter how strong your services or products may be, if you are unable to build positive association with your brand, you may never be able to gain traction in your niche.

Your brand, in a sense, is what people say about you behind your back – or at least this is how you should think about it. Taken in context, you need to control that conversation by crafting a clear message and making sure people know who you are and what you stand for.

Branding Takes Your Image to The Next Level

While most people associate branding with landing new business, your public face is important to a lot of other initiatives as well. In the area of recruiting, your brand says a great deal about what kind of employer you are and if you want to ensure you are attracting the right candidates, you need to make sure you are sending the right message.

This is what we call Employer Branding. Employer branding might be described as the action of helping your ideal recruits see you as an employer of choice in your industry.

In order to tailor your message to the right individuals—much like marketing in any industry—you need to understand your target market. Not to be confused with consumer marketing, this involves understanding what people are looking for in a job and developing a strategy as to how you can deliver it.

Conduct Internal and External Analyses

In a broad sense, you need to establish a brand image that is attractive to your target audience. If you come across as an organization that people want to do business with, then it follows that you will be a desirable company to work for as well. Top talent seeks out the best possible placements for their talents. Your task is to become that aspiration.

On an internal level, you should take a close look at your company culture, your staff, and what can be done to make your workplace more desirable. This could involve career development, or it could extend to work-life balance, diversity, or a progressive physical workspace. Employee training also provides a particular allure for some, as many top achievers are always looking to learn, expand their skills, and grow as a professional. If you offer these opportunities, you will likely attract a higher caliber of individual.

How Your Employer Branding Can Help or Harm

If your company had no employer branding whatsoever, it could easily alienate some applicants. As a newcomer who has only surface knowledge of your company, it would be easy to pick up on the more negative aspects. A company that would have you onboard without any potential for development, for instance, is a red flag for many. Nobody wants to feel like they will be stuck in a rut with no discernable future. You want to give the impression that you care about your employees and that you are a good company to work for.

Your employer branding will be a monumental help when it comes time to recruit new talent. Landing high-performers is not a simple task, especially in today’s competitive job market. Your ideal candidates need to have the right mix of skills, experience, and cultural fit if they are going to go the distance. Being their number one choice will give you an edge when it comes time to make that decision.

In closing, spending some time to develop your employer branding will take care of many of the pain points of recruiting. If you are effective in delivering a positive impression, your biggest problem will be shortlisting the hordes of candidates that will be coming your way.

If you would like to learn more about employer branding and how it can help your organization attract top Life Sciences talent, schedule a consultation with Pact and Partners today. With more than 30 years of experience in trans-Atlantic life sciences executive recruiting, we are your rock in a changing world.

Common Hiring Mistakes And How To Avoid Them

Posted on March 1, 2018May 21, 2018 by Pact & Partners

01 Mar

Common Hiring Mistakes And How To Avoid Them

We’re all human. Therefore, we’re bound to make mistakes. When you’re a new manager, these mistakes can easily come back to bite you. You’re taking on a lot: you’re managing your team, you are recruiting, hiring, and training. With a workload like that, you’ve got an uphill battle.

In any HR environment, there is always a lot of pressure to get it right the first time. Any missteps cost the company in more ways than you can count. Managers can be particularly susceptible to hiring mistakes because they are often the sole contact throughout the process.

It’s always a good idea to take a broad look at what you’re doing. Consider how your actions will affect all stakeholders and don’t just think about yourself. Granted, getting the job done quickly is the ultimate goal, but the best hiring managers take their time and involve others at every point in the process.

Here are some hiring tips from the pros for new managers:

1. Don’t believe everything you read on paper

Your first point of contact is going to be a candidate’s cover letter, resume or CV. While these items are an important part of the introduction, they can be deceiving. You simply can’t make an accurate judgment about somebody based on their CV. In fact, more than 46 percent of candidates pad out their CVs or even outright lie. Even if you see some big names and big claims on the resume, don’t just take them at face value. Let the candidate prove their worth through your discussions.

2. Shortlist your applicants

Having a larger pool to choose from might be tempting, but if you’re interviewing a lot of people who you know probably won’t work out, cut your losses. After all, your time is valuable too. Some dangers to the “more is more” philosophy include that you might simply forget who’s who after 30 interviews and start relying on resumes to remind you and it won’t help you find the right person any faster. Shoot to interview no more than eight or nine candidates at a time. That will make it easier for you to refine the process if indeed you didn’t find your ideal hire in the first round.

3. Be aware of the eye-glaze factor

Any good hiring manager should be able to articulate a company’s mission and vision, its values, its goals and where it’s headed in the future. You need to be able to get this point across to the candidate, but keep in mind that when you’re talking, the candidate isn’t. The interview should be a chance for you to get to know a potential new hire. While you are engaged with them, take the opportunity to walk them around the office. Introduce them to people and let them get a better understanding of what they might experience when working there. Not only will you become more aware of how they interact with other people, they will get a good feel for the culture and their place in it. Letting your interviewee do the talking will always reveal more.

4. Ask the right questions

You’re going to ask a lot of questions, so make them count. Broad questions lead to broad answers, so if you really want to learn more about a person, think about what you want to ask in advance. Think about the experience and skills they need to have. Think about soft skills that every applicant in every position will need to possess. Instead of asking direct questions, ask them to describe scenarios that demonstrate skills you require. For instance, you might set up a scenario and ask them how they would handle it. Or, ask them to describe a technical situation where they were able to turn a negative into a positive.

5. Trust your gut

In retrospect, with regard to most of the bad decisions we make, we can say that we knew it wasn’t going to work out. This is true in about 99 percent of situations. Trust your first instinct, it’s almost always dead on. While it’s never a good idea to make snap judgments about anybody, if you have an instinct that somebody is not going to work out in a job it’s better to act on it sooner than after you’ve already committed time and resources to the hire. However, if you have made a mistake and you know it, don’t hesitate: try to make it right as quickly as possible. Everybody makes mistakes, we are all human, after all.

In conclusion, if you are in charge of hiring for your small company, you might feel a lot of pressure to get the job done quickly and rush through the process. Keep in mind that this is never the best course of action to take and it may cost you more in the end.

Have any questions or comments about the hiring process? Contact Pact and Partners today.

Common Pitfalls in International Biotech Recruiting

Posted on January 3, 2018May 21, 2018 by Pact & Partners

03 Jan

Common Pitfalls in International Biotech Recruiting

If you are searching for top leadership talent for your international biotech company, it always pays to work with a specialist. Whether you are a small company, a startup, or a global organization, it’s never easy. Pact & Partners, a leading Life Sciences recruiting firm, is here to support you with sound advice on common pitfalls in international biotech recruiting and tips on how to avoid making them.

Good leadership is hard to find. Landing the ideal candidate is often a lengthy and complex process that requires patience, preparation, and the ability to visualize what that talent looks like and what, ideally, they will bring to the table.

If you are expanding into new markets this process is especially difficult as there may be vastly different compliance and regulatory issues to consider. The culture is different, and the expectations of the clientele are different, but one thing that never changes is the talent itself. Being able to identify the right talent is where the challenge lies, but there are ways to mitigate the risk and give yourself a better chance of success.

Let’s look at a few actionable tips that can help you avoid common pitfalls in international biotech recruiting:

International biotech recruiting tip #1: Keep your eye on the prize

Your company’s mission and vision should figure prominently in any major recruiting decision you make. Placing the right person in the right position is key to your long-term success. Even if you feel that you are behind the eight-ball and need to make a decision sooner than later, try to focus on the future.

Your gut reaction might be to hire somebody who will provide a “quick fix” in the short-term, but if you have doubts about their long-term potential, perhaps it’s more prudent to keep your options open. If your goal is to find somebody who will be able to take your organization into the future, be absolutely sure about your decision. Having to revisit this process again in the near future is neither cost-effective or good for your culture. If you absolutely need somebody right away, consider placing somebody on a temporary basis until you find the right fit.

International biotech recruiting tip #2: Consider the local culture

Culture is important to any high-performing organization, but it’s also important to note that just because a culture works for you in one country doesn’t mean it will be exactly the same in another. Business practices, regulations, and customs are likely to be completely different, so it’s important that you don’t put yourself in a situation where you are forcing a square peg into a round hole. If you do, you are putting your new recruit at risk and possibly your company if you lose them entirely. Keep an open mind, think outside the box, and don’t be afraid to step outside your comfort zone. Consider the qualities that are most valued in the target country rather than clinging to what you know.

International biotech recruiting tip #3: Familiarize yourself with local markets and specialties

Knowing what the standards are in each country you are going into is key to a successful recruitment process. Find out what typical salary ranges are in the target country as well as what the long-term expectations are of candidates in your niche. Some of these variables can range drastically from city to city as well, not to mention the talent pool may be larger in some places than others. In a more competitive market, you may have to be more persuasive to secure the talent you need.

International biotech recruiting tip #4: Know about local privacy and hiring legalities

As some countries have restrictions on what you can and cannot ask a potential candidate, it is important to familiarize yourself with these policies before you begin the process. Asking the wrong question might land you in much deeper water than if it were simply a faux-pas — it may actually get you in trouble with the law! Some are issues of privacy and some are meant to discourage discrimination. Become well-versed in employee rights and the expectations that are upon you, as an employer.

International biotech recruiting tip #5: Be realistic

Recruiting for biotech takes time — especially if you are in search of effective leadership. You might be able to shortlist a few candidates within the first few months, but there are other tasks that need to be completed before you can begin negotiations. These include vetting their claims, checking their references, assessing their skills, and determining whether they are a good cultural fit — and none of these will happen overnight.

Some of the issues that might affect your timeline include the unemployment rate in your target country; if there are more people than there are jobs, the process may go a little more quickly. If the reverse is true, prepare for a lengthy and nuanced process, as even if you do locate an ideal candidate, it may take careful negotiation in order to lure them away from their current position or another offer.

International biotech recruiting tip #6: Include all decision makers in the hiring process

This is a common trap that many companies fall into — not inviting the opinions of all of the stakeholders in the group. You want to make sure that everybody is on board with your decision to avoid push-back down the line. If there are concerns, hear them out. If you feel you need to be quick to move on a particular candidate, call a meeting so that everybody’s voice can be heard.

International biotech recruiting tip #7: Consider soft skills

Soft skills are essential for any leadership position and nowhere is this more evident than in the high-stakes biotech industry. However, certain character traits can be viewed differently from country to country, so it’s important to understand how your candidate’s soft skills fit into the bigger picture.

For example, North Americans and British people tend to have a sarcastic sense of humor. Europeans, on the other hand, don’t understand sarcasm and would likely think that the person either didn’t like them or was being intentionally insulting. While this is not likely the case, it’s important to protect your staff from little earthquakes like this that could potentially disrupt the status quo.

Humility, familiarity, arrogance, brevity, and candor can also be misinterpreted if the cultural norm is skewed otherwise. Understanding the local culture is the key to assessing soft skills on an international level, and the right balance of soft skills is the key to keeping morale high among the rest of your team.

International biotech recruiting tip #8: Understand what equivalent titles are in each country

A title or a set of letters after a name may mean something completely different from one country to the next. While being a “Director” in one country may place your candidate at a high level, if they are coming from another country, it may mean little more than a glorified assistant. Be sure you understand what each candidate’s responsibilities were for each of their previous positions in order to properly assess their relevance for your situation; however, knowing what specific titles mean specifically will help shorten this process considerably.

International biotech recruiting tip #9: Learn to be an effective remote manager

Managing your team from afar requires a different approach than if you were hands-on and present every day. Your team needs to know that they are a part of something bigger and that the company cares enough to include them in their long-range planning. Even the best recruits can lose their way if they are poorly managed. Distance should not be a catalyst for dissention.

Consider implementing an integration program for your new recruits to familiarize them with your brand and its values. Holding weekly video conferences is a great way to connect names to faces. Getting to know other stakeholders in the company, even if they are in different countries, will go a long way to helping your people feel like they are part of something bigger than themselves. If an employee feels valued, they are more likely to stay in their position. Be sure they have everything they need to move forward with confidence.

International biotech recruiting tip #10: Provide mentorship

Life Sciences is a field like no other. Most of the people involved in the industry are highly trained and specialized in their field, so it’s not unusual for them to be thrown into the fire, so to speak, without so much as a training period. The need for talent combined with an urgency to fill open positions sometimes forces your hand. Keep in mind, however, that your new recruits may need a little more from you in order to become the high-functioning team member you need them to be. Dedicate some time and effort to mentoring your new hires and you will not only be assured of a smooth transition but will stand a much better chance of keeping them for the long haul. Your recruiting partner should be by your side through the entire process to ensure a seamless on-boarding.

While these are just a few of the pitfalls you might encounter in your international biotech recruiting process, they are the most significant.

Ultimately, choosing the right candidate boils down to one thing: are they the right person for the job and do they have the talents your company needs to take it into its future?

Be sure you are allocating enough time and resources to the process and don’t get discouraged if you don’t get results right away. Remember — good things don’t always come easily.

If you are a biotech or life sciences company looking to expand into international markets, you need a recruiting partner with insight and experience in your target countries. Pact & Partners has been a leader in international biotech recruiting since 1987 and can help you build a high-performing team from the ground up. Call to speak to one of our consultants today and discover what’s possible.