The Real Cost of An Empty Role in Life Sciences

Any recruitment process is bound to come with its fair share of challenges, which means that it’s often tempting to tackle the task in-house. Yet if the job of finding the right candidate isn’t handled well, then you could be doing your organisation a significant disservice, leaving your team at risk by having a key role left empty. This can have a significant impact on your business going forward, making the cost of recruitment soon seem a minor expense indeed.    

A Decline In Team Morale

  If your team is a person short for an important project, the obvious result is that everyone else will simply have to work harder if you hope to deliver on the promises your company has made to its clients. This need to cover the slack, including heavier workloads and longer hours, can soon result in a decline in morale amongst your current team, which can eventually lead to them suffering burn out or deciding to leave themselves.   In addition, depending on the nature of your open roles, there could be a skills or knowledge gap that will mean that the finished project might not be delivered to the standard you’d hoped for, or equally, the task of catching up on this expertise could mean that the project overruns.    

Risking Client Satisfaction

  The downsides of having an open role don’t end at the office door. When your team is missing a vital element, the quality of your work may suffer overall, which is unlikely to go unnoticed by your clients. Even if you are still able to deliver on the promises you have made to your clients, there’s a high chance that they will have picked up on the mood of your overstretched team. The result could be that these important clients end up feeling somewhat dissatisfied with the overall experience you provide. This clearly risks reputational damage, with clients less likely to return or to recommend your services to others.    

Fiscal Impact

  These are just the so-called “soft costs” of an empty role. Ultimately, you may well find that having an empty role in life sciences will have significant longer-term financial ramifications. With a key vacancy, your organisation will also be accruing hard financial costs caused by loss of revenue and the continued expense of marketing the vacant position. And, of course, attending to all of this will cost you in terms of that other valuable and finite resource: your time.   This means that it makes sense to address the critical “time to hire” metric from the outset in any life science recruitment process. The best way to achieve an optimum result is to partner with an expert. By working with a specialist such as Circle Life Sciences, you can be assured that you will be able to quickly fill your key vacancies with the ideal candidates, as we help you with every stage of the recruitment journey. From crafting the perfect job description and advert, to streamlining your interviews and perfecting your onboarding process, Circle Life Sciences can ensure that recruitment is a cost-effective undertaking for your business. Find out more today at www.circlelifesciences.com.