The in vitro diagnostics industry is one of the fastest growing in the U.S. With this increased competition for business comes an equally competitive market for talent. One of Yoh’s clients, an international leader in diagnostics with offices all across the U.S., was in dire need of a partner who could help it identify, vet, and onboard quality talent. With a prior talent partner that wasn’t the right fit for the company or its hiring managers, Yoh needed to step in and deliver immediate results from the onset of go-live.
With the complexity of the roles that needed to be filled and the relative size of the program needed, Yoh implemented a master vendor Managed Services Provider (MSP) program. Within a master vendor sourcing model, Yoh was able to provide its breadth of talent services and skilled recruitment program, while maintaining a small group of suppliers to fill any gaps and satisfy any supplier diversity requirements. In just a few short months, Yoh delivered quality talent across a litany of roles, including engineering, IT, accounting and finance, production and manufacturing techs, and clinical and scientific positions. The results have proven the process.
What clients receive with a master vendor MSP program from Yoh is not only full insight into their talent spend, but a significant reduction of that spend. In the first few months of the relationship, Yoh was able to cut costs by more than $145,000 without losing any existing employees, relationships, or quality of work. Hiring managers are seeking out Yoh to help them find talent and fill their gaps, resulting in candidates that better suit open roles and greatly improved work product overall.
$69 BILLION industry
315,000-PLUS industry workers in the U.S.
68% of diagnostics executives say finding talent is their top challenge
17 KEY BUSINESSES in the U.S. diagnostics market, according to the National Center for Biotechnology Information
Early identification of infectious diseases is now more important than ever. In vitro diagnostics can not only save individuals’ lives by finding health issues sooner, but it helps identify antibiotic resistance mechanisms, measure the quantity of a virus, guide and personalize treatment decisions, monitor the effectiveness of treatment, and determine the reaction of cells to a disease or infection. Advancements in diagnostics have made game-changing medical breakthroughs possible.
However,in vitro diagnostics is only as good as the people who make it happen. Today’s diagnostics companies are using sophisticated technologies combined with world-class talent to improve public health worldwide. With a market expected to grow to nearly $100 billion by the middle of the next decade, the competition for that talent is stronger than ever. Staying ahead requires a workforce solution that not only delivers talent, but delivers the best talent on time and at the right price.
For one in vitro diagnostics company with an international footprint and offices all across the continental U.S., it meant finding a talent partner who understands their business, has deep roots in the medical and technology industries, and could provide a customized managed services program (MSP) to manage and monitor all the company’s talent. Of course, no one is better suited to diagnose and cure complex talent ills than Yoh.
By the end of this diagnostics company’s relationship with its previous supplier, they realized they needed more than a talent vendor. Yoh was brought on to be a true talent partner – one who would work side-by-side with hiring managers to identify their gaps and deliver high quality candidates. With such a broad range of roles that needed to be filled in locations across the U.S., including everything from engineering and IT to accounting and finance to clinical scientific positions, the task wasn’t an easy one. At one point with its previous vendor, the client even began to think the talent to fill the roles they had simply wasn’t available. In fact, it just required Yoh’s deep roster of relationships with talent, understanding of their industry, and renowned process expertise to get the job done.
With Yoh as a master vendor, the company received all of the best parts of a Yoh-managed MSP program from a dedicated staffing supply line, while still satisfying supplier diversification requirements. And after an accelerated installation from our implementation team, Yoh was able to immediately deliver full visibility into workforce spending and identify where savings could be found. Yoh transitioned all contingent spend SOWs into the MSP program and now manages each aspect of the requisition management and staffing supply chain. Yoh’s change management process, combined with its best-in-class talent delivery, became the calming force that got everyone buying in right away — even those hiring managers that have had reservations about working with recruiters from past experience.
Early on in the relationship, for example, one of Yoh’s delivery experts spoke to a hiring manager about his knowledge on a particular piece of diagnostic equipment that identified genetic irregularities. Perhaps a throwaway conversation at the time, this demonstration of highly technical knowledge coming from a recruiter gave the client the confidence that Yoh knew their business inside and out and knew the exact type of person the company needed to fill its talent gaps.
Of course, reducing spend is the name of the game with most MSP programs, and Yoh delivered. After only a few months in a Yoh MSP, the client realized more than $145,000 in savings on its talent spend due to the transition of existing headcount to a lower mark-up. Rogue spending was brought into the program at the negotiated rates and each aspect of the client’s contingent workforce was accounted for and managed through Yoh.
After years of being handed the wrong resumes and failing to get the level of candidates they wanted, Yoh finally made the company market-competitive. Talent improved, and costs went down. With Yoh, it isn’t just a matter of being the go-to talent finders but providing peace of mind for the client to know that whatever their ask, whatever their challenge, Yoh will come up with a unique solution to the problem. It’s the Yoh way.