Determining the right candidates by their values.
To grow a workforce, a company needs to determine what it values most. And to recruit talent that fits its culture, it can learn job candidates’ values through their social behavior, the same way it can learn about its customers. Regeneron develops medicines used to treat serious illnesses. When it recently launched a collaboration with Sanofi to develop medicine, the company suddenly needed to hire 350 employees, mostly in research and development, to meet its deadline. The challenge was finding them. The enormous demand for the skills of top scientists encourages these candidates to work with their employers for extensive periods—often for more than a decade, as they fulfill specific projects.
Working with the platform IBM Kenexa, Regeneron began to study its own culture. Regeneron used Kenexa to help it define the core values its scientists brought to their work, and found that its employees’ greatest emphasis was on discovery, innovation, pushing the envelope.
“The light bulb Kenexa helped us turn on was the importance of our culture in attracting and retaining good people,”
— Ross Grossman, Regeneron’s vice president of human resources.
Having determined its employment brand based on those values, Regeneron created the right recruiting and management tools to attract like-minded talent to its team. The results were soon felt: Regeneron achieved a turnover rate two-thirds lower than the industry average, and grew its employee base by 50 percent. With this additional brain-power in place, Regeneron met its Sanofi deadline ahead of schedule. And Science magazine recently voted Regeneron the best pharmaceutical company to work for.
Finding the right candidates means identifying the right traits.