Long-Term Solution
Biopharmaceutical Company Achieves Critical Hiring Objectives with Help of PrincetonOne’s Recruitment Process Outsourcing
The Client
The client, a biopharmaceutical company headquartered in San Diego , has been largely known in the biotechnology industry for its extensive and productive research and development program. The company’s cutting edge technology has been accessed by 11 of the world’s most successful pharmaceutical companies. These major pharmaceutical companies collaborate with the client for the discovery of compounds that could generate global revenues in excess of $1 billion.
The Challenge
While strongly focused in the co-promotion market, the client’s R&D team was also busy developing products to be marketed solely by the company. This prompted the U.S. Food and Drug Administration (FDA) approval of an oncology product, and the client was ready to launch it to the market immediately. In order to do this, the company needed to build a superior sales team of 38 people, all within a four-week period.
The Solution
PrincetonOne team members met with company executives to learn of the project’s short timelines, and immediately began customizing a talent acquisition plan. PrincetonOne served as a sourcing and qualifying agent for prospective employees in the establishment of the new sales force. In addition, PrincetonOne provided the client with the following:
| • | A customized recruitment process to serve as a solution for the company’s imperative staffing needs |
| • | Implementation of an ongoing corporate branding program to enhance the client’s position as an employer of choice |
| • | Expanded sourcing capabilities to attract qualified candidates |
| • | Efficient applicant management |
| • | A consistent and thorough assessment and phone interview process customized to meet the client’s standards and culture |
| • | Fully compliant process to meet EEOC/OFCCP standards |
| • | Management of sourcing and administrative activities |
| • | Accurate applicant tracking and relevant reporting |
| • | Enhanced sourcing, screening and interviewing capabilities to achieve the desired timelines |
| • | Complete coordination of all face-to-face interview logistics nationwide, including background and reference checks |
While a major concern of PrincetonOne was to meet the proposed deadlines, it was also imperative to find quality talent for the client that would have a lasting impact by staying on with the company long-term. According to the client’s director of human resources, “The new sales force made a major contribution in the commercial efforts of the company. From the group of 34 employees hired during this effort, only one person transitioned to other opportunities.”
Due to the project’s successful turnout, PrincetonOne and the client developed a partnership that allowed them to work together on other recruitment efforts.
Measurable Results
The overall project results were extremely successful, with a fill rate of 100 percent at launch. PrincetonOne was able to place 38 candidates within 30 days. In addition, the interview to offer ratio was less than 2 to 1. The client’s savings ended up being 42 percent less than what was typical of its in-house recruiting efforts. With PrincetonOne’s assistance, the client came in 9 percent under budget and met the pre-determined project timelines.
Performance Metrics Summary
| • | Number of positions: 38 |
| • | Number of positions filled: 38 |
| • | Fill rate: 100% |
| • | Candidates screened: 1,100 |
| • | Qualified candidates: 135 |
| • | Interview to offer ratio: 1.8 to 1 |
For further information, please contact:
Ryan Hoffman
Director of Business Development, PrincetonOne HirePursuit
(317) 352-3111
Ryan.Hoffman@PrincetonOne.com
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