4 Reasons Life Science Companies Hire Retained Executive Search Firm In China

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.