6 Talent Acquisition Strategies in Biopharma to Retain Top Talent

Talent acquisition sign in the note

People come and go in the professional field. They move on from one organization to another in search of the best opportunities for them. It is the same in the biopharmaceutical field, where keeping a top employee and hiring new ones can equate to an effective talent acquisition strategy.

What do you need to know to have the best strategies in finding the best talent in the pool of applicants in the pharmaceutical field? Here are some of the best pieces of advice and strategy for talent acquisition:

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Talent Acquisition Strategies Your Company Must Consider

1. Characterize Your Ideal Candidate

Set a goal and characterize who your ideal candidate is. Set the requirements needed for a position. 

Do they need to have a master’s degree, a Ph.D., or an undergraduate will suffice? For the skills, what do you require from the candidate? Do they have strong organizational and research skills?

Write them all down and open opportunities for growth and where your company can benefit from that particular candidate. 

You can also ask advice from other departments on how a candidate can benefit as they grow and how the company can grow and learn from them, which leads to the second strategy.

2. Align Goals Across Departments

In relation to asking advice from other departments in acquiring talent, it is essential to collaborate with other divisions of a company.

In particular, the human resources department will be responsible for communicating with the candidates during the whole process. 

Communication is one of the key ingredients that makes an organization successful. Proper communication with HR regarding the candidates you’ll need is essential to know who they’re looking for.

This is where the difference between talent acquisition and hiring comes in. Hiring is defined as filling out a spot in the company, while talent acquisition is hand-picking a person in a group with a specific skill set needed to reach a company goal.

As for the other departments, collaboration to find the perfect talent is vital to benefit the company even more.

3. Improve Hiring Process

Improving the hiring process can be a great strategy when acquiring new talents for your division. One example of this is the use of different tools to widen the reach of your acquisition campaign.

Talent acquisition and hiring had a new approach, especially this time of COVID-19. With people avoiding physical interaction, some companies resorted to using social media, talent scouts, and other online modes to get the best person to work for them.

Most of them have been using LinkedIn to find the best talent and online job boards such as BioSpace.

RELATED: Expansions and Hirings Spark Surge of Growth in BioCapital Region

4. Workforce Planning

Workforce planning is the ability to carefully set goals for the organization to point out that the people working and the positions available are the right fit.

Having a plan allows for an efficient working system and improves the company to see which positions are needed and need to be improved.

This process includes a few steps:

Strategic Planning: This step involves laying out the plans and setting a goal based on the plans made.

Analyzing Current Workforce: After the strategic planning, the company will look at the current workforce and determine what needs to be done or what needs to be improved.

Develop an Action Plan: This step is still part of the planning phase. This step is where the company will decide on an action and develop a concrete plan to solve a problem.

Implementation: Whatever the plan may be, this step is where the project will be put into action.

Evaluation: This last step is evaluating the whole plan and seeing how it improved the entire process.

5. Employer Branding

Even for any field, branding of the company is essential. It is the face of the company, and it is how people see a company. A company needs to stand out and be unique but still true to the company’s goals and vision.

It can also be a deciding factor for highly sought candidates. For example, a person is torn of picking company A and company B. They have the same offer, but company B is branded as a better company over the other. The chances of getting in company B are higher because he/she knows more about the company than the other. 

Branding also includes the work environment, which can be a deciding factor for someone in the pharmaceutical field.

6. Nurture Candidates

Just like a world-class organization, nurturing the employees and the candidates is a fundamental trait to have. As a talent acquisition strategy, candidates will feel more at home when nurtured, even just in the onboarding process.

It helps candidates feel that they’re stepping in the right door and making the correct decision.

Finding the right person to fit a position can be done through the perfect talent acquisition strategies. Your company can land the best talent in the pool if all circumstances are met, and it becomes favorable to the company and the candidate.

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