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The Biotechnology Executive Search Process

Welcome to the start of the inner workings of an executive search consultant in the world of biotech. Here I will share and expand on the trials and tribulations working in the exciting world of small biotech and how these companies work with search consultants.

There are two sides when a search firm works with a biotech company, the “client”, which is the company, and the “candidate”, the potential new hire for the client.

Search firms can be engaged in one of three ways:

  1. Retained Search, where the client pays the consulting search firm throughout the process, from engaging the firm to the hiring of the candidate, and all steps in between,  In this capacity, the retained firm is usually working exclusively on finding the right candidate.
  2. Contingency Search, where the client pays the consulting search firm when the candidate gets hired.  This process may or may not be exclusive to the search firm working on the role.
  3. Engagement/Priority Search, this search is a combination of both a Retained Search, and Contingency Search process.  This process is usually also exclusive to the engaged search firm.

The majority of the time, given the smaller companies will work with one, maybe two firms on one position, as engaging multiple firms can become overwhelming to the hiring manager/HR department.

If you have any questions, please don’t hesitate to ask me questions surrounding this.

Michael