This post was written by PharmaLogics Recruiting, a Small Business of the Year Honoree. Hear more from PharmaLogics Recruiting at Nailed It: A Conversation With Successful Business Leaders on Thursday, October 6.
Our mission at PharmaLogics Recruiting is to become the number one bio-pharmaceutical recruiting company in the world by placing top talent at companies devoted to the development of medicine that improves and saves lives. To us, this mission is not just a sentence on the wall of our office; it’s a way of life. It’s what we’re passionate about, it’s why we come to work every day, and it’s what drives us forward. We are not scientists. Therefore, we will not discover the next breakthrough therapy in gene mapping or find the cure to cancer. Instead, we will play our part and make this possible for others to do.
Our world of recruiting is dominated by companies who are “headhunting” with recruiters that have earned a reputation of poaching employed persons and stuffing them into jobs they may not be qualified for, in return for big fees that are often in excess of $50,000 per placement. We wanted to alter that perception and knew we could do better, so we did. PharmaLogics chooses to be paid by the hour for the work we actually do. By taking this approach our recruiters earn an income based on their ability to submit the best and most qualified candidates while providing an unmatched level of service throughout the entire recruitment process. Our results are clear: we provide great candidates, decrease the time to fill a position by 27%, and save our clients an average of 60% on recruiting costs compared to industry standards.
Last year, we placed over 250 people for a single Boston-based client who saved $2.5 million compared to what they would have paid a traditional recruiting firm at a 25% placement rate. Imagine what kind of research that organization can now fund with an extra $2.5 million dollars.
Here’s another scenario: a brilliant scientist (or two, or three) discovers what could be the cure for cancer, ALS, or Alzheimer’s. They start their own company which fumbles within a couple of years because they can’t get their product to market due to their inability to compete in the mega-hot bio-pharmaceutical candidate rich market (happens all of the time). Smaller organizations cannot typically take advantage of the services of recruiting firms due to cost forcing them to lose out on being able to attract the right people which for them, can be the difference between success and closure. Our Small Business Platform was designed for these organizations specifically. It is our most affordable platform offering lower hourly rates and is customizable to their differing needs.
Talent is the driver for R&D success. We don’t know science, but we know talent. We are dedicated and focused on improving the hiring process for bio-pharmaceutical organizations. By placing top talent at companies devoted to developing medicine, we play our small but important part in enabling others to improve and save lives.
This post is a part of a series of posts written by Small Business of the Year Honorees. Stay tuned for more insights from our honorees leading up to the October 6th event.