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Discover six key points on how to control the average cost associated with hiring talent without overloading your fixed cost structure.
At some point, we've all likely felt that our HR department isn’t as proactive as it should be when it comes to attracting and hiring the talent we need. Maybe we think they take too long and ask for too many confirmations. Why don't they help us more instead of making things more complicated?
One of the answers surely lies in the minds of recruiters: the acronym AVC (Average Vacancy Cost). The term is self-explanatory, but to define it properly: it’s the indicator that measures the cost associated with filling a vacancy within an organization, including recruitment, selection, training, and more. If I were one of the HR leaders in my company, I would certainly be paying attention to it.
In the pharmaceutical sector, where innovation and efficiency are key to maintaining competitiveness, talent management is crucial. However, one challenge many companies face is this Average Vacancy Cost, particularly for hiring IT professionals.
If we add to this the approvals and processes required to increase fixed cost structures in any organization, attracting the talent we need when we need it becomes highly complicated, especially in the tech field.
How Does AVC Impact My Company?
Every time an IT position remains unfilled, not only are strategic projects delayed, but a series of indirect costs are also incurred:
- Recruitment costs: Job postings on platforms, selection agencies, and time spent by HR teams.
- Loss of productivity: While the vacancy remains unfilled, projects can be delayed or managed inefficiently.
- Training costs: Every new employee requires time for onboarding and training.
In a context where technology evolves rapidly and time is critical, quickly and efficiently filling a vacancy is essential.
What Benefits Do You Gain from Working with Specialized IT Partners?
- Reduction of AVC: By partnering with specialized IT staffing agencies, it’s possible to significantly reduce the Average Vacancy Cost. These partners take on the responsibility for recruitment, training, and onboarding, freeing you from those costs and delays. With a network of pre-screened professionals ready to step in, you can access quality talent without long selection processes.
- Hiring agility: In an environment where IT projects often require highly specialized skills, partners with expertise in the Pharma and IT sectors can provide exactly the talent you need, when you need it. This reduces the time spent filling vacancies and ensures that projects don’t stall due to lack of personnel.
- Variable costs vs. fixed costs: Outsourcing the recruitment of IT professionals allows you to convert a fixed cost (salaries, benefits, etc.) into a variable cost that only arises when a vacancy needs to be filled. This is particularly useful for temporary projects or times when demand for personnel fluctuates. This way, you avoid burdening the company’s structure with permanent costs, improving financial flexibility.
- Access to specialized talent: Specialized partners have access to a pool of IT professionals with experience in the pharmaceutical sector, ensuring that candidates not only master the required technologies but also understand the nuances of the industry, such as managing sensitive data, regulatory compliance, and Pharma-specific software.
- Scalability and flexibility: As your company or projects grow, the need for more specialized profiles may vary. By working with a partner, you have the flexibility to scale your teams as needed, avoiding the rigidity of maintaining an oversized in-house team during low-demand periods.
- Risk mitigation: By delegating AVC to a partner, you minimize the risk of hiring the wrong candidate. Partners often offer guarantees if the profile doesn’t fully meet the vacancy’s needs, reducing the likelihood of repeating costly selection processes.
Outsourcing IT roles to specialized partners is a smart strategy to reduce AVC, streamline processes, and avoid overburdening your structure with fixed costs. In such a dynamic industry like pharmaceuticals, where the swift adoption of technology and flexibility are critical, this approach allows you to focus on what truly matters: innovation and growing your business.
References
- Harvard Business Review – Many articles discuss the impact of outsourcing on organizational efficiency and the reduction of fixed costs.
- Society for Human Resource Management (SHRM) – This organization frequently publishes studies on cost management in Human Resources, including recruitment and outsourcing.
- Gartner – Reports from this consultancy often address cost optimization in IT and the benefits of working with external partners.
- McKinsey & Company – Publishes studies on digital transformation and how to optimize organizational structures in industries such as pharmaceuticals.
#Quodem #TaaS #Pharma #Innovation #Talent #FutureOfWork
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