Optimising Your Hiring Process in the Health Economics and Market Access Talent Market

Hiring can be a daunting task, especially in a challenging talent market. Despite the current climate, there are still low unemployment rates and fierce competition for top talent in Market Access and HEOR, and employers need to be strategic and creative in their hiring efforts. In this blog post, I'll share some tips on how to navigate the hiring process in a challenging job market.

1. Be Proactive

In a competitive job market, it's essential to be proactive in your hiring efforts. Don't wait for candidates to come to you; keep an open channel for talent and build relationships with potential hires. The average lifespan of someone in a role at each level is around 16 months, so you are likely to lose someone, and you'll be able to predict roughly when but as always, these things usually come as a nasty surprise. Having talent coming in to fill the gaps before they arise means no downtime for your Clients Projects or Launches. Consider partnering with a strong Head Hunter to expand your search.

2. Be Flexible

In a tight job market, it's essential to be flexible in your hiring process. Consider offering flexible work arrangements or alternative work schedules to appeal to candidates' needs. Additionally, be open to considering candidates with transferable skills or potential for growth within your organization.

3. Streamline the Hiring Process

A long and complicated hiring process can turn off top talent. Streamline your hiring process by setting clear expectations, communicating regularly with candidates, and making decisions quickly. Avoid multiple rounds of interviews or excessive background checks, as these can be time-consuming and cause candidates to lose interest. Ask yourself this - if my Competitors are doing 2 stage interview processes and can turn them round within 2 weeks from seeing the CV to offer made, how would a Candidate feel if they were left in the dark for a week or 2 with no feedback, or asked to attend 4 stages of interview with presentations?

4. Focus on Your Employer Brand

Your employer brand is a crucial factor in attracting top talent. Highlight your company culture, values, and employee benefits to differentiate yourself from other employers. Consider offering unique perks or benefits, such as wellness programs, mentorship opportunities, or professional development opportunities, to appeal to candidates.

5. Offer Competitive Compensation and Benefits

In a competitive job market, it's essential to offer competitive compensation and benefits to attract top talent. Research industry standards and market rates to ensure your salary and benefits packages are competitive. Additionally, consider offering non-traditional benefits, such as student loan repayment assistance or childcare subsidies, to stand out from other employers.

In conclusion, hiring in a challenging job market can be a difficult and time-consuming task. However, by being proactive, flexible, streamlining the hiring process, focusing on your employer brand, and offering competitive compensation and benefits, you can attract and retain top talent in even the most challenging job markets.

Evidencia Life Sciences supports Consulting and Pharma companies in the Market Access and Health Economics space to secure hard to find Candidates and to build their value story and help design their recruitment process to ensure best success. I have a network of 20 years from which key, highly passive talent is drawn to generate results for Clients such as 30% year on year growth (revenues and company size). I'm happy to talk and offer insights and guidance if nothing else - please email [email protected] to schedule a teams call.