Jobs for the Medical Technology industry have been on a continuous rise. The professional designation include surgical robotics, diagnosis, machine used in healthcare dialysis equipment, etc. Surgical robotics, for example, is an area within Med Tech that is undergoing rapid expansion. During 2018, the market share of surgical robots globally stood at $5.4 Billion, and as per Global Market Insights report, it is expected to hit $24 Billion by 2025 (with 24.4% CAGR). An aging population is a primary reason for such demand. Surgical robotics engineers earn in the range of $110k to $125k per year. With 5+ years of experience you can even look at $160k per year. While the numbers look promising, the organizations hiring Med Tech talent face several challenges. Which demands the need to hire an RPO to manage to hire.
What is RPO? Why choose RPO for hiring?
Organizations face a lot of stress regarding hiring and, more importantly, retaining Med Tech talent. With the improvements in workforce acquisition technologies, the challenges seem overwhelming for the small Human Resources staff. As the times change, catering to the present and future workforce’s expectations can be a challenge for the limited resourced HR department.
What services RPO provides
Recruitment Process Outsourcing benefits include the availability of knowledge, skills, experience, and technology to its clients.
- Reduction of work and responsibilities of the HR staff of the Medical Technology organization.
- Make up for skills shortfalls as well as manage off-peak man hour demand.
- As recruitment is their core competency, RPO provides with the latest innovation and technologies for Med Tech talent sourcing.
The Shortage of Talent in Field of Med Tech
Hiring full-time candidates for medical professional positions has been a challenge for organizations. These positions include surgical robotics, diagnosis, machine used in healthcare dialysis equipment, etc. A holistic approach is required to hire quality candidates. RPOs bring in tonnes of domain-specific experience and expertise in devising strategies and developing an innovative approach towards sourcing right-fit talent. RPO strategy has the talent marketplace visibility, which can not be acquired with internal HR Teams.
RPOs for Med Tech have the capacity to invest in the latest technologies like AI to develop innovative sourcing platforms. As they have their volumes justify the expenditures, healthcare organizations can leverage the technology quickly and efficiently. Predictive analysis is an in-built feature of AI, HR teams can use it to quickly pull out the best matching candidates from the talent pool.
RPOs Address Talent Retention Challenges
RPOs are experienced recruiting firms that have firsthand experience of handling talent for different industries. They have the expertise to cater to the job seekers’ changing needs. An internal recruiting team might not be well equipped to handle the changes in expectations. RPO act as a cost-effective partner when it comes to adapting to the changing marketplace. RPOs have agile teams that can take sudden spurts in hiring activities, thus bringing down the RPO costs. Such may be induced by opening a new location or a new department. And vice versa of this situation, when hiring comes to a freeze, can be handled easily by an agile RPO team.
When it comes to expectations of potential hires, internal recruiters find it hard to manage their expectations. The first contact with the candidate has a lasting effect on the candidate. HR staff should take note of the need to provide a positive hiring process experience. They also need to focus on building and fortifying a strong employer branding in the candidates’ minds. Thus, such inspired candidates can quickly turn into brand promoters and provide substantial word-of-mouth publicity to the company. RPO for Med Tech staffing companies use time-tested techniques to provide a smooth hiring process experience to candidates. RPO providers could run a process audit for the organization and thereby provide valuable feedback for improvement. Resultant being a streamlined hiring experience for the candidates.
An RPO for Med Tech industries could also bring in the latest hiring techniques employing the use of technology. Mobile Apps or websites for hiring, Social media interactions with potential candidates, online talent forums to provide an enticing yet personalized experience. RPOs could conduct phone interviews, pre-application tests, video interviews, etc.
Top RPO companies could provide the latest AI-powered Application Tracking Systems (ATS) to reduce the time and human error involved while sifting through the received applications. RPOs already have industry contacts to ensure that every job advertisement gets the maximum reach it deserves. AI-powered hiring tools could help draft a typical candidate profile which could be easily found in the overwhelming number of received applications. AI can help streamlining and automation of the scheduling process.
Medical Technology industries can leverage the USPs of RPOs discussed above to positively affect their recruitment teams’ challenges.