The Medical Device

Job Market: 2014

How To Participate / Q&A

• Technical issues during presentation

• Email John@LegacyMedSearch.com

Phone 407-591-3033 or 3034

Meet me at…

http://medicaldeviceevents.com/

The Medical Device Job Market - 2014 3

The Medical Device Job Market - 2014 4

The Medical Device

Job Market: 2014

Definitions and Challenges

• Where is our Industry today?

Medical Device Job Market

• Where are we going in 2014?

Trends & Technologies

• Compensation and Technology

Things Steps to Consider

• What to do today to be an employer of choice (or how to work for one)

How to be a Employer/ee) of Choice

www.no2point3.com

8

Estimated Lay Offs

2000

1050

1000

770

700

600

595

450

427

300

275

200

170

143

141

140

139

54

Medtronic

Stryker

Boston Scientific

Smith & Nephew

Abbott Laboratories

Quest Diagnostics

Covidien

Zimmer

Kinetic Concepts (KCI)

St. Jude Medical

Welch Allyn

Hill-Rom

Roche Diagnostics

Accuray

Hologic

Analogic

Theragenics

C.R. Bard

Where are we now?

Medical Device Challenges

0% 10% 20% 30% 40% 50%

Changing regulatory environment

New product development

Access to capitol/credit/financing

Pricing pressures

Increased competition

Changing reinbursement environment

Employee retention recruiting

Other

Source: Emergo Group study conducted January, 2013 http://www.emergogroup.com/research/annual-medical-device-industry-survey

Negative Hiring Options

1 2 3

Reduce StaffPostpone

New Hires

Decrease

Compensation

4

Ask more

of Current

Employees

5

Leverage

Current

Resources

How to be an Employer of Choice

5 things to do today to be EoC

• Understand what your value proposition is to a potential employee (and tell your employees)

• Engage your talent pool through social media, your employees and corporate messaging

• Leverage your current employees to be ambassadors for your company

• Make engagement, position requirements clear and the process as painless for both interviewers and interviewees.

• Pay Well

Pay Well

General Management

The Medical Device Job Market - 2014 17

Product Development

The Medical Device Job Market - 2014 18

Regulatory/Legal Affairs

The Medical Device Job Market - 2014 19

R&D

The Medical Device Job Market - 2014 20

How much to pay?

Hiring Hire Top Talent

Value PropositionValue Proposition

1. Product

2. Compensation

3. People

1. Product

2. Compensation

3. People

Value Proposition

1. Product

2. Compensation

3. People

LeadershipLeadership

1. “Hire up”

2. “Hire right”

3. Empower your

team

1. “Hire up”

2. “Hire right”

3. Empower your

team

Leadership

1. “Hire up”

2. “Hire right”

3. Empower your

team

Hiring Process

1. Candidates

versus

Applicants

2. “A” Players are

seldom

“Applicants”

Drue DeAngelis

President

The DeAngelis Group

Have a Mobile Recruiting Strategy

*Source: IDC Research conducted March 2013 **Source: Mashable.com ***Source: ComScore

*Source: IDC Research conducted March 2013 **Source: Mashable.com ***Source: ComScore

70% of respondents use Facebookon their phone; and of this group, 61% use it each day

Source: “Mobile Marketer”Source: “Mobile Marketer”

Only 30% of PC searchers

react within an hour

Leverage Technology in the Interview Process

Source: https://www.pfizerline.com/uk/pfizer-products

“Digital detailing”

The Medical Device Job Market - 2014 33

Automate Reference Checks

Know your Value Proposition

36

What candidates want to know

Will I be respected?

Will I be encouraged?

Can I trust?

Do I have a sense of purpose?

Is this a place I can stay?

*Source:: Nobles Communications

Telling your Story

Above all, BE AUTHENTIC

Bake culture into your internal and external

communications

Mind every touch point

Beef up your branding to appeal to potential hires

Steps to take today to be an EoC

WebsiteWebsite

1. Join us

section?

2. Culture

3. Social Media

1. Join us

section?

2. Culture

3. Social Media

Website

1. Join us

section?

2. Culture

3. Social Media

Internal ReferralInternal Referral

1. Monetize

2. Advertise

3. Publicize

1. Monetize

2. Advertise

3. Publicize

Internal Referral

1. Monetize

2. Advertise

3. Publicize

Hiring Process

1. Job

Descriptions:

clear specs

2. Simplify

process

Brian Cole

Managing Partner

Kaye/Bassman International

The Medical Device Job Market - 2014 42

“About us”

The Medical Device Job Market - 2014 44

Source: Linkedin

Where to Find Quality Hires

5%

38%

32%

25%

0%

Traditionals

Boomers

Gen X

Millenials

Gen 2020

U.S. Workplace 2012

Source: Catylyst Study "Generations in the Work Place"CaCa Catalyst, 2012.

1%

22%

20%50%

7% Traditionals

Boomers

Gen X

Millenials

Gen 2020

U.S. Workplace 2020

Source: Catalyst. Catalyst Quick Take: Generations in the Workplace in the United States & Canada. New York: Catalyst, 2012.

New Healthcare Jobs

Healthcare titles that barely existed 10

years ago – or less

• EMR Certified Healthcare IT Specialist

• Product Security Officer

• Mobile App Developer

• Social Media Product Manager

• User Experience Designer

• Medical Coder / Reimbursement

5 things to do today to be EoC

• Understand what your value proposition is to a potential employee (and tell your employees)

• Engage your talent pool through social media, your employees and corporate messaging

• Leverage your current employees to be ambassadors for your company

• Make engagement, position requirements clear and the process as painless for both interviewers and interviewees.

• Pay Well

Thank you!