Every year we make multiple placements in Asia’s pharmaceutical industry in the in-demand areas of marketing, sales, clinical development, scientific information and quality assurance. The positions ranged from manager class right up to executive director.Recently we examined the details of these placements and this fruitful exercise has given us helpful insight into the most common, and perhaps, the best recruiting practices within the pharmaceutical industry.
One of the most interesting details was that salary played a smaller role in the ne-gation process then many may think. About 50% of candidates moved to a new company for about the same salary and a further 20% jumped ship for only a 10% increase.
Only 20% of candidates were given a significant bump in salary of 20% or more. About 70% of candidates, who decided to move, had done so before reflecting the change in the traditional workplace.
However, some candidates we meet still have their head in the sand regarding life- time employment and still believe the company will look after them forever.
One of the most common patterns was most hiring decisions are made after three meetings. About 40% of the placements were given at least a verbal offer after two meetings and another 30% after there second meeting.
Most recruiters will tell you that more meetings does not necessarily mean success. The longer the process the less likely the candidate will be hired. There is a definite bell curve when it comes to recruiting. More meetings mean red flags. Either the candidate is not really serious and is simply enjoying the interview ride or the client is not serious about filling the position or has doubts about the candidate. One of the parties is not able to face the music.
Approximately 60% of successful hires were first interviewed by the line manager. We advise clients to put their best foot forward at this crucial meeting and have the line manager explain the position and screen potential candidates.
Too often the message can get lost in translation from line manager to HR, a de-partment that often is able to give deep insights into character and psychology.
In the war for talent the most successful companies in Asia, such as GSK, Abbott and Boehringer all have line mangers in the trenches when it comes to hiring.
Who better can sell the company, position and career growth then the person who the new staffer will be reporting to?
About 70% of offers were first communicated though us. We have found that the best practice is to have a verbal offer communicated through the agent then followed by a formal offer.
When I was a rookie recruiter I remember getting one offer from UCB and plonking it down on the table in front of the marketing manager. He had one look at the bottom line and bolted for the door. There was no coming back, no second chance. His pride was hurt and my lack of finesse meant that I was back to square one in the search.
Any recruiter worth his or her salt should know exactly what the candidate will accept. It is much easier to package the offer verbally or through a well-worded email.
With 70% of offers presented through the agent, about 60% of these were rejected by the candidate and then re-negotiated.
The adjustments in the offer may have been starting date, housing allowance and an inclusion of a starting bonus.
With the spate of mergers and acquisitions likely to continue, pharma candidates will be likely to move more often and to more companies in the years ahead.
The war for talent is heating up in 2015.
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Morunda should be your choice of recruiting partner in Japan and Asia Pacific. Why? Because we live and breathe the pharmaceutical industry in Asia and the Pacific—we’re specialists!
- Morunda has completed over 400 managers to director-level placements since 2001.
- A cultural understanding of what it takes to secure top talent
Over one hundred thought leadership articles published.
- We hold regular seminars for candidates and clients alike with industry experts.
- We understand the market, not only today, but where it is heading in the next 12 to 18 months
