With an aging population in the U.S. and demand for a higher quality of life worldwide, the life science industry has become an area of great attention due in part to its potentially explosive growth.
Biotech, Cleantech, Medtech, Nanotech—theses definitions are changing with each new innovation that emerges from these sectors. What is in common is that as these evolving industries advance their technologies the demand for scarce expertise also continues to grow.
If you are running a life science organization, be it an early-stage startup or a more mature publicly traded organization, the need for subject matter experts across all functions will continue to grow as this sector of the economy advances into new technological territory.
As the world becomes flatter companies in the fields of biotechnology, biomedical technologies, life systems technologies, nutraceuticals, cosmeceuticals, food processing and biomedical devices are competing on an international scale. As a consequence the competition for leaders and industry specialists will only continue to grow and become more competitive.
When faced with filling an executive management opening for a life science organization the first decision is a "make vs. buy" choice. Larger organizations have the luxury of a deeper well of human resources to draw from and have had in place a succession plan to groom and develop internal candidates for when a key executive departs the firm.
For most other smaller technology based firms that run lean, the decision is clear that they must go into the market and "buy" the talent they need and do so quickly.
As you consider filling an open position in your organization there needs to be a compelling reason to use outside resources. The return on investment must be justified. When one considers the time of key internal personnel, the development of candidate sources, acquisition of technology tools to discover mine and aggregate information in addition to the time and labor intensive process of screening, interviewing and assessing industry specific skills, the in-house can be many tens of thousands of dollars. This is difficult to justify particularly for emerging or mid-sized firms that may only be doing a search of this type infrequently.
As you consider filling positions within your organization that requires expertise in the life science space we would invite you to call us to discuss your needs and methods to address them quickly and economically.
Please call us today at 847-221-2744 or reach out to us online here.