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The 5 Things Every Biotech Company Must Do To Win the Battle for Talent

17 December 2020

By Jay Freeman

The 5 Things Every Biotech Company Must Do To Win the Battle for Talent

Biotech organisations aren’t just in a battle of innovation, they’re also in a battle for talent. In fact, because you need the latter driving the former, recruitment is arguably the most important investment that a biotech organisation can make.

But what exactly does this investment look like? Here are five things that a biotech company can do to not just win the battle, but the entire talent war.

1. Define your vision and mission

With nine out of ten people willing to earn less money to do more meaningful work, the need for a biotech organisation to clearly outline their values, vision and mission has never been greater.

But simply painting inspiring words in the hallway is far from enough; you need to live and breathe the values you extol.

2. Build an awesome employer brand

After defining your organisational philosophy, you’ll be tasked with putting words into action. Doing so will allow you to build and develop your employer brand, showing top talent the difference you’re making to the world in the process.

Your company blog, Careers page and Glassdoor profile are all incredibly useful tools in this effort. Glassdoor in particular is vital for your employer brand, with a recent study finding one in three candidates rejected jobs due to a company’s negative reviews.

3. Make employee wellbeing a priority

‘Treat your employees well’ shouldn’t need to be a bullet point on this list, but the truth is that the expectations of top talent are constantly changing. Today employee wellbeing is about feeling heard, being invested in, having opportunities to move up, and enjoying unwavering support.

The positive effects of taking employee wellbeing seriously are two-fold: you’ll increase retention, while also creating employee advocates who will help you attract even more top talent.

4. Build recruitment partnerships

Hiring top talent in biotech isn’t like hiring for industry or hospitality – it’s less about casting a wide net than it is about spearfishing.

Because it is a more targeted effort, a biotech organisation should partner with a single, dedicated, specialist agency that can understand its talent needs and find candidates that will fill them. By choosing a general recruiter, or working with multiple talent suppliers, an organisation risks wasting time and money attracting and hiring less than ideal candidates

5. Find and train leaders who inspire

The role of leaders in attracting and retaining top talent cannot be understated. They will advise recruiters on the skills and experience their team needs, have a significant say in choosing the successful applicant, and be tasked with retaining the best employees.

With this in mind, an organisation should find and train leaders who won’t just do their job well, but will inspire employees while they’re at it.

While the war for biotech talent is never-ending, investing in the right areas can see you gaining the higher ground, attracting and retaining the best talent available.

And the five steps outlined above are a great place to start that journey.

How Panda International can help

At Panda International, we have a successful track record of sourcing and placing in-demand professionals in ambitious and fast-growing Biotech companies. Our experience and way of working will give you a competitive edge in the war for top Biotech talent.

What are you waiting for? Get in touch and find out more.

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