For the first time, Orthopedic companies have access to an abundant pool of talent. This is a real phenomenon caused by layoffs, downsizing and shedding of FTEs; however, most companies are not recognizing it.
There are 4 specific reasons why crazy talent is available during the pandemic.
#1 – Talented individuals are looking for meaning
The pandemic changed priorities for many people working in the orthopedic industry. Talented people, with the new perspective now want meaning.
People are looking for a career inside empowering cultures with innovative products. They want to engage in innovations that matter. More importantly, talented people don’t want to work for companies with bureaucratic structures or companies with “me too” products. If your orthopedic company has a great work culture and cutting edge innovation, you can tap into these superstars.
#2 – “A” Players are becoming free agents
Many orthopedic companies are in financial trouble, so they are starting to shed people. Individuals who are RIFed are usually the B and C players. However, “A” players are also being caught up in the lay offs and are becoming available every day.
#3 – Location doesn’t matter
The more progressive orthopedic companies are increasing the adoption of digital collaboration tools. This new way of conducting business gives companies access to the global pool of talent.
Companies used to ask, “Who is the best Regulatory Manager who wants to work in Philadelphia?”
Today, they are asking, “Who is the best Regulatory Manager?” We don’t care where they live.
#4 – Better talent at lower costs
Orthopedic companies with locations in expensive areas (West Coast, East Coast) can hire people with similar (or superior) talent in lower cost locations (Midwest, Southeast). This is called global arbitrage. It’s real and you can use it to get better talent for a lower spend.
Contact me if you want to tap into this talent pool.
