Since COVID, the balance of power in biotech recruitment has shifted toward employees. What do companies need to know now about candidate motivation, and how can they adapt their proposition to win more talent?
It’s psychological …
It’s just got tougher for biotech companies – especially those at an early-stage where risk is greater – to access the talent essential to develop a successful business. Two factors, trends accelerated by COVID, are complicating the recruitment challenge. The first is straightforward and structural: there are more roles than people to fill them, making it a candidate-driven market.
Secondly is the issue of candidate attitudes. This is more subtle, about motivation—aside from the role itself, what do candidates want abstractly from their careers? Research shows that scientists’ motivations are complex and have particular relevance in the current context of changing attitudes to work, and in light of the pandemic.
Biotech Talent Partner, Tom Froggatt at Singular Talent says
' A re-evaluation of how you make a case for your business might mean reviewing what you offer recruits in the round. I’m not talking about the package, but the whole business. What is its mission? Is it driven by values or a definite purpose? Is it well funded and going places? What is its culture, aspiration, personality? Who sets the agenda? How much influence do its people have? Where could it take them? '
The above is an excerpt from a thought leadership article published in thepharmaletter - you can read the full article here: https://www.singulartalent.io/content/exploring-the-science-of-talent-at...