The medical technology (med tech) industry is booming, with a quarter of the med tech market expected to grow 6 percent or more annually from 2022 to 2025. Alongside this fast-paced expansion, med tech recruitment is experiencing a surge in demand for specialized med tech talent. But, the downside to urgent med tech hiring is fierce competition for the best candidates. How can med tech recruiters be strategic in how they source candidates? This article will explore ways to solve med tech recruitment problems and help you find the medical technology talent you need.
Med Tech Recruitment: Consider Unconventional Talent
Gone are the days of hiring talent with only experience in one industry. In the past, hiring managers focused on a specific idea of the type of candidate they were looking for to fill a med tech role. But, keeping up with your competitors demands a holistic approach to hiring. Consider candidates with outside industry experience or those who may not have all the traditional med tech qualifications.
Why look outside your industry for new talent?
The answer is simple: by only considering candidates with med tech experience, you may miss out on the best possible applicants. In fact, research shows that employees with a diverse range of experiences and backgrounds can bring new perspectives and ideas to an organization, which can lead to innovation and growth. So, when recruiting for med tech roles, consider candidates with industry experience in various industries, such as healthcare, engineering, and software development.
Review Your Employee Compensations & Benefits
A major challenge in medical technology recruitment is that companies aren't offering enticing employee compensation and benefits packages. To stay competitive in the med tech recruitment market, it's important to regularly review your company's incentives, benefits, and compensation packages.
You can use salary data from online resources such as Glassdoor and Payscale to get an idea of the med tech salary landscape. One way to do this is to compare your company's med tech salaries with those of other companies in the industry. You can also survey employees to see if they feel they are being fairly compensated. Make adjustments based on the feedback you receive.
Keep An Eye on Your Competition
In the med tech recruitment industry, you're not just competing with other medical device companies for top talent but also with other industries looking to attract potential crossover talent. Your competitors may be outside the medical field altogether. How can this affect your med tech recruitment strategy?
This means it's critical to keep an eye on all tech markets and know how they're recruiting talent and what they're offering job candidates. As mentioned before, benefits and employee compensation packages are key in attracting med tech talent. But you should also keep an eye on other perks and incentives your competition offers, such as flexible work hours, remote working arrangements, and sign-on bonuses. An awareness of your competitors will help you anticipate med tech talent needs and adjust your recruitment strategy accordingly.
Leverage Med Tech Recruitment Technology
Med tech recruitment technology has made finding, connecting with, and hiring tech talent easier than ever. By leveraging new recruitment tech, you can efficiently source and screen med tech candidates and streamline your med tech and healthcare hiring process.
Research shows an estimated $24.6 billion will be spent on HR software by 2026. Companies across all industries recognize the value of recruitment technology and are investing in software to help them find and hire top talent. These technologies include SMS recruitment software, applicant tracking systems (ATS), chatbots, and others. Now, while technology cannot replace the human element of med tech recruitment, it can assist med tech recruiters in finding and hiring the best candidates.
Get Help from Med Tech Recruitment Experts
A top-performing medical device company is only as good as its med tech employees. So, if you're struggling to find and hire the most qualified med tech talent, don't hesitate to seek help from specialized med tech recruitment experts.
Recruitment firms specializing in med tech can provide you access to a pool of qualified and vetted job candidates. They can also help you assess your hiring needs, develop an effective med tech recruitment strategy, and implement recruitment best practices.
At Hire Velocity, we believe that medical recruiting should be customized for your unique environment. We have designed our healthcare recruiting solutions to address the unique challenges of different aspects of the healthcare industry. Contact us today to learn more.