How to fill an executive position in 63 days
In a tough labor market like Japan, filling senior-level positions doesn’t typically happen quickly.
At Morunda, we surveyed pharmaceutical companies and found that the average time to complete an executive search at all levels took 92 days, with candidates starting 30-60 days after receiving the offer letter. However, director-level positions took much longer to fill, with an average of 201 days.
You never want to be in the position of playing catch up. We see it time and time again. An executive resigns and five weeks have sped by without a single candidate being interviewed. Companies turn to us when they realize they have dropped the ball and no progress is being made.
Time is money in recruiting. A position remaining vacant can cause decreased productivity, too much load on existing employees, missed opportunities and growing recruitment expenses.
To make sure you’re filling positions quickly, here are 4 ways to prepare:
1. Always be in recruiting mode
You should always be on the lookout for potential candidates, even when you don’t have a position to fill. Keep in touch with these potential candidates and add them to a talent pipeline, so that as soon as an opportunity arises you will know who to call.
2. Leverage your networks
Recruitment in Japan takes an active approach. You need to have your finger on the pulse across the industry so that when the time comes to fill a position, you will have networks to turn to. This might look like connecting with local networking events and industry groups, or encouraging your existing employees to make referrals.
3. Speed up the interview process
Once you have identified potential candidates, you need to move quickly. Decide which key stakeholders need to be involved in the hiring process and get them involved from the outset. By making sure everyone is on the same page about the position requirements there will be less back-and-forward when making decisions and sending offers. Be open to video interviews and online skill assessments to help streamline the process.
4. Work with a recruitment agency
When you work with a team like Morunda you get not only executive search expertise, but also a comprehensive understanding of the pharmaceutical industry in Japan. By tapping into our pool of candidates, you will speed up your process significantly. Book a discovery session today and discover how to make smart (and quick!) hiring decisions.