High-Growth Pharma Company Gains Market Momentum
June 25, 2020
With a new product launch on the horizon, this upstart drug developer understood the importance of capturing U.S. market share as quickly as possible following approvals. The company not only needed to add more sales, marketing, and corporate support resources, but it also needed to improve the caliber of candidate slates and quality of hires nationwide to accomplish its growth objectives.
The client had an existing RPO relationship but realized that its per-placement fee model would significantly increase its cost, and it was not delivering the quality of candidates desired. So, with their impending product launch creating a need for high-volume, accurate hiring, the company decided to use DoubleStar as its new RPO partner.
DoubleStar began by conducting an operational assessment to determine the company’s current state of readiness. Following the assessment, DoubleStar recommended several process and hiring practice changes; assigned an experienced project team including Recruiters, Researchers, and Support Specialists; and designated a senior leader to act as a strategic engagement manager during the first year.
DoubleStar also recommended the company create an internal project management role to lead the effort from their side. A system of metrics and results monitoring was developed and implemented, and DoubleStar co-presented the new solution at the company’s National Managers’ Meeting to roll out the process and train the managers in the new process, improved selection techniques, and the state of the pharmaceutical sales marketplace.
In partnership with our client, DoubleStar created the recruiting engine to fill over 250 positions annually—45 of them for managers and above, at a cost 50% lower than their previous partner. According to the client, DoubleStar candidates stayed longer (turnover reached historic lows) and reached 100% productivity in less time than before. Also, time to fill all open positions dropped to under 40 days, enabling the company to meet its expansion goals and exceed its revenue targets. This project was renewed for three years until the company was acquired by a larger firm, and the project came to its natural end.