Life Sciences & Diagnostics
How a leader in global life sciences and diagnostics resolved recruitment bottlenecks across its global portfolio companies by implementing centralized sourcing.
Location
Global
Industry
BioTech, Diagnostics, Life Sciences
Size
Parent corporation and its portfolio companies: <63,000
Length of Engagement
Over 10 years
Services
Centralized Sourcing, Full Cycle Recruiting Support
Roles
Various roles across multiple portfolio companies
The Company
A global leader in technology and manufacturing, operating a range of companies within industrial and healthcare sectors. The company’s portfolio businesses were suffering from recruitment inefficiencies, primarily due to the lack of an organized and effective sourcing system.
The Challenge
Recruiters at the company were overwhelmed with processing a high volume of applicants, managing day-to-day recruitment processes, and maintaining communication with hiring managers, HR teams, and internal stakeholders. This left little to no time for passive sourcing, leading to stagnation in pipeline development for strong, interested, and qualified candidates.
The IQTalent Solution
IQTalent proposed a straightforward yet effective two-pronged approach:
- Establish a Centralized Sourcing Hub: Function as a continuous, evergreen pipeline growth engine for frequently filled roles, ensuring a steady supply of qualified candidates.
- Form a Specialized “SWAT” Team: Assist in filling challenging positions by supporting internal recruiters, HR teams, and hiring managers with best-in-class sourcing strategies and the latest market insights.
This strategic initiative led to the development of a dedicated central sourcing team, which not only validated the concept but also facilitated the hiring, onboarding, and training of full-time sourcing professionals for the company.
Results
The centralized sourcing approach was a resounding success, demonstrating significant improvements in talent pipeline quality and recruitment efficiency. This success led to:
- The sustained support of the parent company and its portfolio companies for more than 10 years.
- Expansion of services to include full-cycle recruiting support for five other large portfolio companies experiencing growth or undergoing change management.
- Implementation of best practices in hiring that were essential for maintaining the high standards expected across the company’s diverse portfolio.
This initiative has witnessed continued success, providing over a decade of enduring support to the parent company and its portfolio companies.
