Currently, economic signs for the Life Sciences are starting to look up. Just today, the Bureau of Labor Statistics (BLS) reported that the economy added 162,000 jobs in July. Furthermore, the National Venture Capitalists Association found that VC money flowing into the life sciences was up 41% in dollar terms in Q2 compared to Q1 at a figure of $1.3 Billion dollars. Regardless of the economic indicators that you observe, one common theme remains: those life science companies that are looking for qualified candidates continue to struggle to find the talent that they need. As this article states, it may be as much a product of client behavior as the market itself.
We continue to find that given feelings of marketplace uncertainty, hiring authorities have become more cautious and deliberative in their decision making processes. As hiring processes drag on, the talent that clients truly want, those that aren’t actively looking, become disinterested over time and are more apt to turn down offers if too much time elapses from the initial interview until the offer. Furthermore, lengthy processes can often result in other employers swooping in with other opportunities or counteroffers from their current employer. In any case, with the passage of time, no benefit to the client from a hiring perspective can come of it.
So, let us work with you to streamline your hiring processes so that they can be thorough yet expeditious, and allow you to capture those impact players before your competition does.
Shawn Barley
President, Life Sciences Division