If you’re searching for a new hire in the life science, biotechnology, or pharmaceutical industries, you know that finding the right fit can feel like an overwhelming task. Talent in these growing industries is in high demand, and competition is stiff.
Here’s the good news: you don’t need to navigate the hiring process alone, and you certainly don’t need to expend all your time and resources finding your new employee or executive. Instead, you can turn to a team of executive search consultants who specialize in your industry and understand your business’s unique challenges.
In this article, we’ll answer the question “What is an executive search consultant?” and explore how executive search consultants can add value to your business in the recruitment stage and beyond.
1. Executive search consultants give you a leg up in the competitive life sciences talent market
When you post a position on your own, you may struggle to find the perfect fit. If you’ve run into this issue, the first thing you should know is that the advertised position isn’t the problem, and neither is your company.
The hang-up is likely simply that your job posting is not reaching its full slate of potential applicants, many of whom include passive candidates. Passive candidates are those who aren’t actively looking for jobs and may not be staying on top of job boards to apply for posted positions. Rather, they would be interested in making a switch at the right time and for the right company if the opportunity presented itself.
An experienced and established executive search firm (like Cornerstone Search Group) has an expansive array of passive candidates in their network, and can typically call upon a plethora of candidates at any given time to introduce your open opportunity personally. Cornerstone’s relationships with employees and executives across the industry not only help us to make a tailored match for your position but also allow us to tap into resources that may be looking (albeit passively) for exactly what you are, too.
2. Executive search consultants can utilize tailored pre-hire assessments to make sure candidates’ skills line up with their resume
According to a study discussed in Forbes, 70 percent of workers admit to having falsified something on their resume, and 37 percent of workers admit that they “lie frequently” on their applications. When it comes to bringing on a new employee in the life science, biotechnology, or pharmaceutical industries, skills matter, and organizations cannot afford to make a hiring mistake.
An executive search firm can help you implement tailored pre-hire assessments that are unique to the required skills of each role. These assessments help employers collect information about a candidate beyond what they might uncover during the traditional interview process, ultimately allowing an employer to evaluate a candidate’s tangible aptitudes. Pre-hire assessments can also be used to learn about a candidate’s personality, ethical standpoints, decision-making abilities, and potential cultural fit within the organization.
3. Executive search consultants help you scale your team in a thoughtful and strategic way
If your organization operates in the life science, biotechnology, or pharmaceutical industries, your managers excel in those fields. Chances are, however, they’re not hiring experts—and that’s okay. Executive search consultants are, and they bring an entire career’s worth of experience and knowledge to each recruitment effort they undertake.
When you work with executive search consultants, the ultimate hiring decisions remain up to your company, and you always retain the final say. A search team simply helps you get there in a thoughtful way. While your functional internal teams focus on managing their projects and keeping up with their day-to-day tasks, your executive search team can work in the background.
Partnering with an executive search firm means you can rest assured that while you seek to fill just one (or a few) positions, your search partner is considering how these hires will help your entire organization scale in a thoughtful and strategic way. As organizations grow, the importance of talent quality and the interconnectedness of employees grows with it. At Cornerstone Search Group, we recognize that every hire matters—not just for filling an open role—but for setting the foundation for the future growth of your company.
4. Executive search consultants know where to source high-quality C-suite executives and other higher-ups
At Cornerstone Search Group, we believe that the choice you make for every hire matters, whether at the employee or executive level. However, the more senior the role is that you’re looking to fill, the higher the stakes are that the right decision is made. Hiring C-suite executives and individuals with deep industry experience requires a unique understanding of recruiting, hiring, and corporate culture fit—a specialized skill set within itself. When the stakes are high, it’s important to rely on experts.
While posting an open position on a job board may garner decent results, an executive search firm knows exactly how and where to source high-quality C-suite executives and other higher-ups who can drive organizational success for your business. Cornerstone has built our trusted recruiting process over twenty years within the life sciences space. During this time, we have developed an expansive network of relationships, allowing us to identify top talent with deep experience—talent that your competitors aren’t meeting during their recruitment efforts.
5. Partnering with an executive search group can help you implement your diversity and inclusion initiatives
According to McKinsey & Company, “Companies with diverse senior leadership outperform their competitors and are more successful at attracting top talent,” making the return on investment from your diversity and inclusion initiatives something to take seriously. If you’re considering getting started in or ramping up DEI in hiring, one of the most advantageous steps you can take is to partner with an executive search group that can help you approach your hiring needs in a thoughtful and sustainable way.
At Cornerstone, we hold the belief that diverse thoughts, ideas, and leaders drive companies to perform at their highest achievable level. This belief yields positive results for our clients: over 50% of the candidates that we help our clients hire come from diverse backgrounds.
Cornerstone Search Group: Your Next Best Hire is Here.
Cornerstone is proud to serve the diversity-rich life sciences industry and has done so for over 20 years. We’re eager to connect you with talent across the globe. Start a conversation with us today to learn more.
