For many small companies and start-ups, there is a critical stage of business development (BD) that can make or break your business. During this phase, it makes sense to hire the best BD professional for your company, but many aren’t sure they can maintain the extra salary permanently. In these cases, interim talent is the perfect hiring option. With this concept, you are able to work with the top professionals you need, only for the time you need them… making your hiring decisions and salary obligations more flexible.
Here are five situations in which interim talent can help achieve business development goals within the life sciences industry:
1. Expanding into different markets.
2. Rebranding a company in transition.
3. Growing within special therapeutic areas.
4. Hunting for partners, mergers, and acquisitions.
5. Looking to gain specific assets for your portfolio.
When your company is looking to take great strides like those previously mentioned, interim talent is a solid stepping stone to help move things forward. This strategy also provides the option to hire the employee permanently after their interim assignment is completed.
Check out this real-life case study of how a business used this method in a time of need:
“A biotechnology company with a unique technology platform was looking to reposition and rebrand itself as a delivery platform company in the oncology space. With this corporate reset of priorities, the company needed assistance in executing these changes in the form of an Interim Vice President of Business Development. This role would aid in professionalizing the company and locating opportunities for partnerships and collaborations. If successful, the company would consider making the position permanent…” Read more.
This hiring concept is a growing trend in the life sciences community, especially to aid in unique situations like the example above. After all, we work in very unique and ever-changing industry, so shouldn’t our employment strategies reflect that? Many hiring executives and interim candidates believe so. Interested in hiring interim talent? Learn more or contact Ashton Tweed today.
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By Jim Rudman, CEO, Ashton Tweed See this article on LinkedIn. Life science leaders and entrepreneurs are familiar with...