In my role as a serial networker (aka MedTech Recruiter), I am accustomed to senior MedTech leaders asking me what I am seeing / hearing in the employment market. Since the beginning of the COVID-19 Crisis, this has gone up exponentially.
As a result of millions of people now unemployed due to the COVID-19 pandemic and resulting shut down, there are now many, many more job applicants. The problem is that the overwhelming majority of those applicants simply do not have the unique skills and experience MedTech companies require. Further, the top performers that you are seeking (you know the ones that you lean on during good times and bad to make a real difference in your business), they are ever more embedded in their current companies and are not hunting around job boards.
I have also noted that the MedTech employment market is split into two camps. COVID-related businesses are busier than ever and vacancies or skills gaps on their team are even more glaring as employees work remotely. This may mean their life-saving solutions do not get to healthcare workers on the front lines. MedTech companies in the elective procedure spaces are staring down a dismal Q2 but know that those elective procedures are stockpiling. Leaders of these companies are worried about having the right talent in place to meet this future demand. As one MedTech leader stating to me, “If someone has PADs, it doesn’t go away just because of COVID”.