In the life sciences industry, clinical trials can be both exciting and daunting to embark on. When approaching clinical trials your science is already down pat, so new professionals and expertise are often needed for the next phase of development for your product or service. Although these trials can span many years, different phases may require different types of assistance, whether you need clinical leaders, regulatory supervisors, etc. Fortunately, there is a hiring strategy that embraces your changing workforce: interim talent. This hiring approach can help your business get through the various stages of clinical trials without having to take on permanent employees and salaries.
Having pioneered the concept of interim talent for the life sciences industry, I have seen interim talent bring companies through clinical trials to success many times. Below are four real-life scenarios where interim clinical talent helped a company on a short-term basis with long-term consequences:
Sudden loss of talent.
A privately held biotechnology company suddenly needed to replace their Vice President of Clinical Development. With the volume of work piling up and not wanting the development of their technology to fall behind schedule, they searched for interim talent.
Need a leader with specific experience.
This client developed a novel drug delivery technology with huge market potential; however, they needed help to get their clinical trials under way. They chose to hire a highly experienced clinical operations leader with a background in their therapeutic area on an interim basis.
Transition due to merger or acquisition.
A pharmaceutical company specializing in orphan drug technologies was acquired by two larger companies in quick succession. With the employee turnover, they had lost a critical member of their due diligence team and needed to quickly fill the gaps while permanent hiring was put on hold.
Preparation for IPO or other fundraising.
This client needed an interim Chief Medical Officer to efficiently guide the company to a successful IPO. Before going public, the chosen individual would be required to prepare their clinical development strategy for FDA discussion, appoint a contract research organization, and lead the clinical trials.
These are just a few of the ways that interim clinical talent can be used to help your company. This hiring strategy allows for flexibility and innovation, which are always in high demand in the life sciences industry. Be creative with your hiring process and don’t let the burden of permanent employees and salaries hold you back from getting the specific and experienced talent that you need!
Looking for interim clinical talent? Contact me to discuss your needs.
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By Jim Rudman, CEO, Ashton Tweed See this article on LinkedIn. To find out if interim talent is a...