Exploring the Different Types of Biotech Staffing Agencies
The California biotechnology industry houses some of the biggest biohubs in the nation, including the San Francisco Bay Area, Los Angeles, Orange County, and San Diego. Finding the right talent is like finding a needle in several haystacks, with universities and institutions throughout the Golden State attracting and contributing more talent to the industry. There are a handful of places you can turn to, such as online job boards, networking events, or biotech staffing agencies when looking for biotechnology talent. In this blog, we explore the different types of biotech staffing agencies and their cost structures to help you determine which biotech staffing agency might be best for your talent acquisition strategy.
Why do companies use biotech staffing agencies?
Working with biotech staffing agencies is a talent acquisition tool many life science and biotechnology companies utilize. Some benefits of working with biotech staffing agencies include cost savings, working with industry experts, improved employee satisfaction, and reaching a wider pool of qualified candidates. Many life science companies choose staffing agencies, and all sorts of companies can seek help from recruiters. Biotech staffing agencies can help life science companies find professionals for all departments like IT, administration, engineering, finance, research and development, clinical operations, or executive search. If you’re wondering, can my company work with biotech staffing agencies? The answer is yes!
Types of Biotech Staffing Agencies Based on Cost Structure
Here we explore the different types of biotech staffing agencies based on their cost and contract structures for finding life science talent.
Contingency Biotech Staffing Agencies
The first type of agency we’ll cover are contingency agencies. These biotech staffing agencies operate by getting their clients results before any payment occurs. Contingency agencies are paid their fees only when they place a candidate. This style of life science recruiting can work for many companies as a cost-effective option that ensures satisfaction with the incoming life science talent. This style of recruiting can also benefit companies that are seeking to fill several roles at once.
Retained Biotech Staffing Agencies
On the other hand, retained staffing agencies are paid upfront fees to perform a search. Contracts with these staffing agencies may also include payments throughout their talent search. Most often, these fees are to work exclusively with the staffing agency and their vetted pool of candidates. Typically more expensive than contingency agencies, this type of recruiter can be better for companies needing talent for specialized roles or senior positions.
Temporary Staffing Agencies
For job roles that are temporary, seasonal, or contract-based, temp agencies are your go-to. A biotech temp agency is skilled at providing quick turnarounds for your talent acquisition needs. These biotech staffing agencies are good options for companies that need highly qualified contractors for specific projects. Keep your short-term projects rolling with temporary workers that are vetted, prepared, and ready to work by partnering with a temp agency.
Hybrid Biotech Staffing Agencies
Hybrid agencies can provide a combination of life science talent search services. Whether your organization wants to contract or direct-hire professionals, hybrid agencies can operate under any pricing and talent search models we’ve discussed. This type of biotech agency is great to have in your pocket when you have a combination of talent needs. Depending on your budget, talent requirements, and timeline, hybrid staffing agencies can provide several biotech talent solutions.
Other Considerations for Biotech Staffing Agencies
On top of cost structure and talent search needs, there are a few other factors to examine when choosing a biotech staffing agency. We cover this in another article on our blog. In Top 10 Tips for Choosing a Biotech Recruiting Agency, we discuss these factors, including communication practices, talent pools, and industry experience. Weighing a biotech staffing agency’s experience in these components is vital for taking your talent acquisition strategy to the next level. Taking the time to vet an agency ensures that they’ll take the time to find you top-notch talent.
Choosing the Right Biotech Staffing Agency
The need for biotech talent also changes in an ever-evolving industry. Biotechnology is fast-paced and on a mission to make scientific and medical breakthroughs. Choosing the right biotech staffing agency goes beyond finding the right person for the job, but the right person for your organization’s visions. When there’s a lot on your plate, staffing agencies can help save time and money and help higher rates of employee satisfaction. If your company needs assistance, connect with one of our California life science recruiters to learn how we can help your organization with life science talent solutions.