When hiring senior executives, many companies turn to executive recruiters. But what is the real value of working with a medical device recruiter? Is it worth the investment?
As a medtech executive with the responsibility for hiring, you may need an industry expert to recruit for senior positions within your company. When in that situation, you could benefit from working with medical device recruiters. We’re going to take a look at the advantages of working with medical device recruiters. As well as how they work differently than general recruiters.
We will also describe what you can expect when working with them, and how you expect to benefit from their services.
Keep reading if you’re interested in managing your resources and saving time by working with specialized recruiters.
What to Consider in the Beginning?
When you start working with top medical device recruiters, there are a few things that you should notice. Here are three things to consider.
The Focus of the Search
Medical device recruiters should have a comprehensive understanding of the industry. They can also help you find and vet candidates with the specific skills and experience you need.
To hone in on a search, recruiters often use tools along with industry knowledge that will allow thorough candidate, company, and needs research. This gives clients the confidence that candidates are being reviewed thoroughly. You can also ensure that the values of your company and the competencies of your open roles are being met.
What’s different about how a recruiter handles the process, is that they oftentimes can look farther than the initial job description. Whether you need to focus on candidates that specialize in a certain area or you need someone that’s more adaptable and versatile, recruiters can focus in their search based on what you need, and what you’d like to have in a candidate.
The Reach of the Search
A good executive search professional should have a broad network of contacts. This means they can provide you with access to a greater number of qualified candidates than you could find on your own. With the multiple means of contacting potential candidates, an executive recruiter can focus more on how they plan to extend that reach.
A medical device recruiter has at their disposal different techniques in addition to the knowledge of the current market requirements to create effective and engaging messaging that will engage targeted prospects. This is one of the prime values that a recruiting process can have.
That’s because, without suitable and effective communication, you won’t get far. At least not with candidates that are considered highly recruited in the market.
The Cost of the Search
While there may be an initial investment to work with a recruiter, in the long run, it can be cost-effective. They can help you save time and money by streamlining the recruitment method. This is where the process is being set apart from passive methods of recruiting.
Recruiters can now access large sets of market information and pools of potential candidates. This is a great start for you to see a return on your investment in the partnership.
The Benefits of Working With Medical Device Recruiters
By using medical device executive recruitment, you are allowing the hiring process to be focused more on industry experience and what they can bring to your role. When you partner with a recruiter or a recruitment firm, you are optimizing the process. This is beneficial for those areas within the company that need the most improvement.
Oftentimes hiring managers can have a false hiring thesis based on the requirements that were laid out by department heads. Executive recruiters can provide an independent view of the actual business needs. This is accomplished by digging deep on discovery to uncover your organization’s core requirements and backward map the skills and experience needed to
By focusing on these aspects, recruiters can create a profile for potential candidates that reflects what will match the needs and wants of the business. These needs and wants can then be compared to compensation structures that will be competitive in the market in order .
By honing in on what will shape the role, companies can tailor job descriptions. They can tailor them to what is the most appropriate for what’s available within the market. As well as what they need overall in a candidate.
More On Benefits
Being able to recruit top medical device talent can be a struggle in today’s market. Due to labor shortages, finding top talent, and retaining them has become the main issue for companies.
Executive recruiters focus on that as well to put forth the effort of helping companies to retain the filling of their roles for the long term. Additionally, there are multiple benefits that companies can expect when working with a recruiter.
- Advanced industry-specific knowledge
- The ability to identify passive candidates for open roles
- Development of recruitment strategies based on your company organizational structure and role requirements
- Specific domain knowledge of sub-areas of expertise
- Effective screening strategies with retention in mind
- Being able to identify core business needs for transferring that into the recruitment process
Additionally, you can expect to save on internal resources. By outsourcing your recruitment needs to experienced medical device recruitment firms, you are freeing up resources that you would have used if you were searching internally.
Here’s Why It Works
Working with medical device recruiters can save you time and resources. By having a point person that manages the candidate search, you can hand off these time intensive activities. An executive search should be about attracting qualified and experienced individuals that can implement their expertise into your organization with the goal of measurable, bottom-line results.
When searching for C-suite level officers, vice presidents, and department heads, it can be challenging to hire sought after talent. There is a different approach that has to be taken when recruiting for these levels. Medical device recruiters who have interviewed extensive numbers of exec level candidates, know what to look for in senior candidates.
When the hiring decision maker is a CEO or a member on a board, the dynamics of the executive search itself can differ from a general search.
This process works because recruiters can go beyond the traditional job description of title, duties and compensation.
They often know what executives in the industry are looking for in a position. They can use this information to create a recruitment message that resonates with the prospective candidate by focusing on professional growth, career advancement and other factors that enhance the attractiveness of an opportunity.
In hiring and retaining top talent, the matter of compensation can be a critical area to manage. When utilizing a medical device recruitment firm, they can provide assistance in the compensation negotiations. A skilled recruitment professional can act as an effective broker to mediate the needs of both sides of the negotiation. Bonuses, equity, long term incentives and other enhancements can be used to make an equitable bargain between the employer and employee.
Recognizing the Value
A medical device recruiter offers value in that they have assembled considerable medical market background data from past interviews with both clients and candidates. Because of this, recruiters are often equipped with the knowledge to identify industry experts and influencers. A recruitment expert experience in your market is a better investment for your recruiting process than reaching out to a generalist recruiter.
Compare how recruitment is performed today versus in the past. Prior to the expansion of the internet, social media and data mining tools some aspects of candidate sourcing had limitations that added time and effort in addition to limiting the overall scale of outreach. In the modern era, no one is out of reach and can be communicated with via multiple channels.
This expanded market reach equates to added value to you when recruiting since you have the opportunity to draw talent in from a wider sphere than what could be done in the past.
This illustrates why getting your unique recruitment message clear and compelling is so important. Developing your distinctive message, making it persuasive and carrying that message to the marketplace, is a skill that a good medical device recruiter should be able to add value to that ensures a successful hiring outcome.
These elements save you time in the long run and improves the quality of the result. This contributes considerably to the long-term value and ROI of using a medical device recruiter.
JP Boyle & Associates is a leading medical device executive search firm with clients in the U.S., Europe, Asia and the Middle East.
