In the midst of the ever-evolving orthopedic business, the industry is experiencing a new and unique challenge—finding and hiring the best candidates amidst a sea of job-seekers. As the U.S. economy bounces back, the demand for jobs in this sector remains high, creating a complex recruitment landscape for employers, HR, and recruiters alike.
Recent data has revealed that the number of job openings in the orthopedic device industry has decreased by nearly 29% compared to 2022. This decline can be attributed to the fact that many orthopedic companies, after navigating through the challenges of the pandemic, have become more efficient and streamlined in their business operations. In other words, doing more with less people. Moreover, the cautious approach taken by these companies in the past year has led to a reduced demand for new employees as they prioritize stable growth.
On the other hand, the job-seeker activity has surged, reaching 25% above historical levels since the beginning of the year. As a retained recruiting in orthopedics, I am now bombarded with out-of-work people daily.
The orthopedic industry has seen layoffs across major companies, leading to an increased supply of job-seekers (read The Orthopedic industry paradox.). While remote positions have become scarce, many job-seekers still harbor hopes of finding such opportunities, despite the industry’s shift back to in-person roles. Additionally, some candidates have become more selective and are seeking positions in specific locations close to their family or friends, while others may have opted to stay out of the workforce for various personal reasons.
For orthopedic device companies with new job openings, it has become increasingly challenging to find the right candidate amid the increased competition and noise in the job market.
Here are some strategies to help orthopedic device companies attract and secure the best talent:
- Craft Compelling Job Descriptions: Use your job descriptions to share your company’s unique story and culture. Highlight the “Why” behind your organization, as this can resonate with potential candidates and increase the likelihood of finding the right fit.
- Optimize Internal Recruitment Processes: Streamline your internal recruitment procedures to ensure a seamless and efficient hiring process. This may involve establishing clear communication channels between departments, leveraging technology to automate certain tasks, and fostering collaboration between HR and hiring managers.
- Swift Screening and Interviewing: In today’s competitive job market, orthopedic companies must act quickly to identify and engage promising candidates. Lengthy and drawn-out interviewing processes can lead to the loss of top-tier candidates. Implement streamlined and efficient screening and interviewing techniques to secure the best talent promptly (read Timing Matters: Learn the Magic Window of Opportunity during the Hiring Process).
- Partner with a Trusted Industry Recruiters: For key openings that require a specialized skill set, consider enlisting the expertise of trusted industry recruiters. These professionals have the knowledge and connections to identify and attract top talent that may not be accessible through conventional channels.
By adopting these strategies and proactively addressing the challenges of the current job market, orthopedic device companies can successfully attract and recruit the best candidates to fuel their growth and innovation. In this highly competitive landscape, unlocking the potential of exceptional talent is the key to success and advancement in the industry.