Get involved in the discussion! Click here to comment on this story
Intense competition, a constant stream of mergers & acquisitions, heavy regulation and pioneering technologies are all creating a challenging context for life science companies. An industry experiencing so much change requires innovative and forward-looking leadership. Finding the right kind of life science executive prepared to lead your firm through the challenges of change is no simple task. This is why you should put your trust in a specialized life science executive search firm like Borderless, with an exclusive international network of top talent.
The life sciences industry is presented with a mix of opportunities and challenges. According to Deloitte, global prescription drug sales are forecast to grow at an annual compound rate of 6.5% in the next five years, with worldwide sales expected to be US$1.06 trillion in 2022. At the same time, some companies are still struggling with patent expiries, estimated to be a US$194 billion risk for sales in 2022.
Flexible life science workforce solutions will play an incredibly important role in turning the industry’s challenges into opportunities. With 50% of biomedical researchers now being millennials, life sciences companies will need to put blended workforce strategies in place to attract qualified talent in the future, according to Accenture.
To stay on top of these many trends, your life sciences business should be looking for the right leadership talent. But trying to fill a top life sciences executive vacancy on your own will take up valuable time and internal resources, possibly even distracting your team from their business responsibilities. This is where a specialized life sciences executive recruiting firm can help, reaching out to a network of potential candidates that are not always readily identifiable in the market.
As a top life sciences executive search firm, we have built up a global network of contacts in Life Sciences at Borderless, giving us access to a far deeper pool of exceptional talent. We also have an in-depth knowledge of your sector, including executive search in the pharmaceutical, medical device, biotechnology, and biomedical fields, which is essential to finding the right candidates.
This priceless network for top life science executive search, combined with dedicated expertise in recruitment strategy and tactics, will optimize your chances of finding the right fit. In addition to that, top life science executive search firms conduct extensive research on all candidates, bringing far greater diversity in terms of candidates.
Selecting a life science executive search firm
There are a number of criteria you should consider in selecting the right life science executive search firm for your needs, including:
Working with a life science executive search firm that understands the sector and the specific position you are seeking to fill is vital. Check client references, review recent and relevant assignments, and consider the personal chemistry with the search consultant. Lastly, for a global industry like yours, make sure the reach of the life science executive search firms is global enough to attract the right type of candidate.